Blobs, MSTR and more: This is Ethereum’s broadband moment Blobs, MSTR, and other factors signal a significant moment for Ethereum in terms of growth and expansion.
The internet celebrated its 35th anniversary this week, and it was quite symbolic that Ethereum underwent its biggest upgrade to date just one day later. The Dencun hard fork of Ethereum proceeded smoothly on Wednesday. The arrival brought nine improvement proposals, with EIP-4844 centered around blobs being the most popular for memes. The internet experienced bandwidth issues for over a decade after Tim Bernes-Lee, who is also involved in NFTs, created the World Wide Web. Dial-up modems could only support around 50 kilobytes per second. The platforms that are commonplace today, such as YouTube, Spotify, Twitch, and TikTok, would have seemed impossible in the past, just like high-frequency trading on certain decentralized exchanges is currently. With the introduction of broadband in the early 2000s, internet speeds for consumers increased significantly to 512 kb/sec. Unimaginable concepts have transformed into immensely successful online businesses worth billions, completely changing the way our society functions and keeping us constantly connected to the internet. Fast forward two decades, traditional television is nearly obsolete, and streaming platforms have taken over. The blending of physical and digital worlds by AR headsets, supported by fast wireless technology, mirrors the vision of the web outlined by Bernes-Lee in 23. Just as broadband revolutionized the internet, blobs are now revolutionizing Ethereum by providing layer-2s with their own space to interact with the mainnet, reducing congestion and fees. This development has already led to significantly lower fees for users of layer-2s utilizing Dencun and blobs. For instance, Optimism and Base fees have significantly decreased to a fraction of a cent per transaction since the fork, compared to the previous rate of nearly $1. YouTube was launched in 2005, five years after the introduction of the first consumer broadband services. Justin. Tv, which came after Twitch, arrived two years later. It is possible that as more layer-2 platforms compete for space, layer-2 fees may increase over time. The full effects of Ethereum’s successful efforts to create a unified multi-chain ecosystem with the help of “blobband” may only be realized in the future, but the foundation has been established.