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Ethereum

Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed

October 7, 2022 - Around 2 mins mins to read
Cryptocurrency exchange Coinbase said that it is collaborating with the Ethereum Foundation and the Optimism teams to expedite the EIP-4844 update. The planned proto-danksharding or EIP-4844 update will lower gas fees and speed up transactions on Ethereum Layer-2 rollups. In fact, Coinbase is devoting technical resources and testing the EIP-4844 in order to accelerate cryptocurrency acceptance.
Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed
Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed 3

CEO of Coinbase, Brian Armstrong tweeted:

Coinbase declared public support and contributions to the impending EIP-4844 update in a press release on October 7. The improvement will boost Layer-2 rollups by 10-100 times, increasing transaction throughput and lowering transaction prices.

Due to greater security, convenience of use, and faster and cheaper transactions, Coinbase believes the EIP-4844 will entice people into the ecosystem. Furthermore, it will facilitate institutional acceptance and growth of Web3.

Furthermore, the crypto exchange allocated technical resources to EIP-4844 testing. So far, the united team has completed a detailed specification for the execution and consensus clients, released Ethereum clients Prysm and Geth, prepared for the KZG ceremony, and published Devnet v1.

Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed
Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed 4

EIP-4844 lowers costs by introducing a new transaction type to Ethereum that allows “blobs” of data in the beacon node for a limited duration. It is forward-compatible and uses little disk space.

In reality, anybody can contribute to and support the EIP-4844 for the next “Surge” advancements, including a roll-up, an exchange, or interested people.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Brian Armstrong

Coinbase

Devnet v1

EIP-4844

Ethereum Foundation

gas fees

Layer-2

optimism

Web3

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Ethereum

Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed

Cryptocurrency exchange Coinbase said that it is collaborating with the Ethereum Foundation and the Optimism teams to expedite the EIP-4844 update. The planned proto-danksharding or EIP-4844 update will lower gas fees and speed up transactions on Ethereum Layer-2 rollups. In fact, Coinbase is devoting technical resources and testing the EIP-4844 in order to accelerate cryptocurrency acceptance.
Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed
Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed 7

CEO of Coinbase, Brian Armstrong tweeted:

Coinbase declared public support and contributions to the impending EIP-4844 update in a press release on October 7. The improvement will boost Layer-2 rollups by 10-100 times, increasing transaction throughput and lowering transaction prices.

Due to greater security, convenience of use, and faster and cheaper transactions, Coinbase believes the EIP-4844 will entice people into the ecosystem. Furthermore, it will facilitate institutional acceptance and growth of Web3.

Furthermore, the crypto exchange allocated technical resources to EIP-4844 testing. So far, the united team has completed a detailed specification for the execution and consensus clients, released Ethereum clients Prysm and Geth, prepared for the KZG ceremony, and published Devnet v1.

Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed
Coinbase Supports EIP-4844 Update To Reduce Gas Fees And Increase Transaction Speed 8

EIP-4844 lowers costs by introducing a new transaction type to Ethereum that allows “blobs” of data in the beacon node for a limited duration. It is forward-compatible and uses little disk space.

In reality, anybody can contribute to and support the EIP-4844 for the next “Surge” advancements, including a roll-up, an exchange, or interested people.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News