Related papers: Impact of EIP-4844 on Ethereum: Consensus Security…
As a key enabler of Web3, Ethereum has long faced scalability challenges. The recent EIP-4844 upgrade aims to alleviate the scalability issue by introducing the ''blob'', a new data structure for Layer-2 rollups that enables off-chain…
Ethereum has adopted a rollup-centric roadmap to scale by making rollups (layer 2 scaling solutions) the primary method for handling transactions. The first significant step towards this goal was EIP-4844, which introduced blob transactions…
The introduction of blobs through EIP-4844 has significantly reduced the Data Availability (DA) costs for rollups on Ethereum. However, due to the fixed size of blobs at 128 KB, rollups with low data throughput face a dilemma: they either…
We study the economics of the Ethereum improvement proposal 4844 and its effect on rollups' data posting strategies. Rollups' cost consists of two parts: data posting and delay. In the new proposal, the data posting cost corresponds to a…
A transaction fee mechanism (TFM) is an essential component of a blockchain protocol. However, a systematic evaluation of the real-world impact of TFMs is still absent. Using rich data from the Ethereum blockchain, the mempool, and…
Ethereum Improvement Proposal (EIP) 1559 was recently implemented to transform Ethereum's transaction fee market. EIP-1559 utilizes an algorithmic update rule with a constant learning rate to estimate a base fee. The base fee reflects…
Proto-Danksharding, proposed in Ethereum Improvement Proposal 4844 (EIP-4844), aims to incrementally improve the scalability of the Ethereum blockchain by introducing a new type of transaction known as blob-carrying transactions. These…
Participation in permissionless blockchains results in competition over system resources, which needs to be controlled with fees. Ethereum's current fee mechanism is implemented via a first-price auction that results in unpredictable fees…
EIP-1559 is a proposal to make several tightly coupled additions to Ethereum's transaction fee mechanism, including variable-size blocks and a burned base fee that rises and falls with demand. This report assesses the game-theoretic…
Late 2023 witnessed significant user activity on EVM chains, resulting in a surge in transaction activity and putting many rollups into the first live test. While some rollups performed well, some others experienced downtime during this…
In 2021 Ethereum adjusted the transaction pricing mechanism by implementing EIP-1559, which introduces the base fee - a network fee that is burned and dynamically adjusts to the network demand. The authors of the Ethereum Improvement…
Modern public blockchains like Ethereum rely on p2p networks to run distributed and censorship-resistant applications. With its wide adoption, it operates as a highly critical public ledger. On its transition to become more scalable and…
Ethereum's transaction pool (mempool) dynamics and fee market efficiency critically affect transaction inclusion, validator workload, and overall network performance. This research empirically analyzes gas price variations, mempool…
The Ethereum Improvement Proposal 3675 (EIP-3675) marks a significant shift, transitioning from a Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism. This transition resulted in a staggering 99.95% decrease in energy…
Blockchain systems come with the promise of being inclusive for a variety of decentralized applications (DApps) that can serve different purposes and have different urgency requirements. Despite this, the transaction fee mechanisms…
On September 15, 2022, the Ethereum network adopted a proof-of-stake (PoS) consensus mechanism. We study the impact on the network and competing platforms in a two month event window around the Beacon chain merge. We find that the…
As transaction fees skyrocket today, blockchains become increasingly expensive, hurting their adoption in broader applications. This work tackles the saving of transaction fees for economic blockchain applications. The key insight is that…
EIP-1559 is a new proposed pricing mechanism for the Ethereum protocol developed to bring stability to fluctuating gas prices. To properly understand this as a stochastic process, it is necessary to develop the mathematical foundations to…
Transaction fee markets are essential components of blockchain economies, as they resolve the inherent scarcity in the number of transactions that can be added to each block. In early blockchain protocols, this scarcity was resolved through…
Ethereum is undergoing significant changes to its architecture as it evolves. These changes include its switch to PoS consensus and the introduction of significant infrastructural changes that do not require a change to the core protocol,…