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When is EIP-4844, and why is it considered the biggest game changer for Ethereum?
August 08, 2023
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  • Ethereum protocol’s proposed upgrade EIP-4844 is expected to go live in Q4 2023.
  • EIP-4844 is known as proto-danksharding, its objective is to reduce fees by introducing a new transaction type.
  • Ethereum developers tried to reduce transaction fees through the past few upgrades.

EIP-4844, Ethereum blockchain’s proposed upgrade, is lined up for Q4 2023. Its primary feature is called proto-danksharding. Proto-danksharding has two key objectives for the Ethereum blockchain:

  • Reducing transaction fees
  • Increasing transaction throughput 

The Ethereum Improvement Proposal (EIP) aims to achieve these objectives through the introduction of “blobs” of data, a new transaction type on the ETH blockchain. 

What are EIPs and why are they important?

EIPs specify new features or processes that improve the Ethereum blockchain. The proposal defines technical specifications, and they are considered key for the community of developers to propose, debate and adapt changes to continuously improve the ETH blockchain.

 

EIPs are a vehicle of governance on the Ethereum blockchain. While anyone is free to propose an improvement, stakeholders in the community determine if it should be adopted or included in a network upgrade.

The Ethereum blockchain has faced a key challenge since its launch – the spike in transaction fees on the network. To address this issue, several solutions and EIPs have been proposed. EIP-4844 or proto-danksharding is set to address this as one of its key objectives. 

What is EIP-4844?

EIP-4844, better known as proto-danksharding, is named after Ethereum researchers Proto Lambda and Dankrad Feist.

Sharding is another name for partitioning a database into smaller data segments. In simple terms, it's like cutting a pizza into slices. A pizza can be consumed more effectively and with higher efficiency when cut into slices, and the same can be applied to specific data segments.

There are several unique features in addition to segmenting data. While the Ethereum base layer processes around 15 TPS and layer 2 rollups take the number to 100, danksharding is predicted to eventually increase Ethereum’s throughput to 100,000.

The Ethereum blockchain is headed in the direction of a full “danksharding,” and EIP-4844 is the first step. It would increase the throughput from 100 to 1,000. While it is scheduled to occur in Q4 2023, delays are anticipated.

EIP-4844 is considered a game changer for this reason

EIP-4844 introduces blob-carrying transactions. These are similar to regular transactions with added pieces of information. Ethereum contributor Ben Edgington has summarized EIP-4844 as an improvement that “bolts blobs onto blocks.”

In the first look it may be perceived as an increase in blocksize, which is counterintuitive to increasing efficiency. However, blobspace is different from blockspace, and blobs are not visible to the Ethereum Virtual Machine. They do not occupy space on the base layer of the blockchain. Blobs are visible for a short period of time, and the space occupied by them is relatively cheaper when compared to blocks. 

The scaling and cost-saving benefits of sharding comes from EIP-4844, making it a game changer improvement for the Ethereum blockchain.

The Ethereum blockchain’s future roadmap is centered on “rollups,” and EIP-4844 is a part of the same. Users will experience the difference post implementation of EIP-4844, as ETH transactions become faster and fees become relatively cheaper. This is likely to boost the competitiveness of the Ethereum blockchain.

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US Dept of Commerce to publish GDP data on blockchain

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While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

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