Blockchain Industry | What are blobs, and how can they make Layer 2 cheaper?
Blobs have their own fee market: the blob base fee automatically rises or falls based on the difference between usage and the target, and it is also burned.
“Proto-Danksharding” is an early version of full Danksharding: it first establishes the transaction format and fee mechanism for blobs, with capacity to be expanded gradually later.
When Layer 2 networks submit blob data to the mainnet, the blob fees are also settled in $ETH .
Don’t rush into placing an order just because everyone around you is doing it.
#ETH
Blobs have their own fee market: the blob base fee automatically rises or falls based on the difference between usage and the target, and it is also burned.
“Proto-Danksharding” is an early version of full Danksharding: it first establishes the transaction format and fee mechanism for blobs, with capacity to be expanded gradually later.
When Layer 2 networks submit blob data to the mainnet, the blob fees are also settled in $ETH .
Don’t rush into placing an order just because everyone around you is doing it.
#ETH