🔍 Blockchain Industry | The Cancun Upgrade and Blobs
· Definition: Blobs have a separate fee market. The blob base fee adjusts automatically based on the difference between usage and the target, and is also burned.
· How to understand it: Layer 2 networks only need to ensure that, during the period when verification is needed, anyone can access the transaction data to check the results. The mainnet does not need to store this data permanently.
· In practice: When demand for blobs surges, blob fees will rise too, so Layer 2 transaction fees aren’t always that cheap.
$ETH 2370.94（-2.47%）
· Definition: Blobs have a separate fee market. The blob base fee adjusts automatically based on the difference between usage and the target, and is also burned.
· How to understand it: Layer 2 networks only need to ensure that, during the period when verification is needed, anyone can access the transaction data to check the results. The mainnet does not need to store this data permanently.
· In practice: When demand for blobs surges, blob fees will rise too, so Layer 2 transaction fees aren’t always that cheap.
$ETH 2370.94（-2.47%）