In true degen vogue, it took lower than 13 minutes after the launch of Ethereum’s Dencun improve for somebody to add your complete Bee Film script on the mainnet — costing solely round $14.
Ethereum developer Dan Cline claims he was the primary to add the full-length script on the blockchain, profiting from a brand new improve that goals to vastly scale back charges on Ethereum layer 2s.
“I did not get the primary blob, however so far as I can inform I DID get the primary BEE MOVIE on mainnet,” wrote Cline in a March 13 publish to X.
Blobscan information exhibits that the script was uploaded at 2:08 pm UTC on March 13, simply 13 minutes after the Dencun improve went stay. The transaction value a complete of $13.88, based on information from Etherscan.
Additionally known as EIP-4844 or “proto-danksharding,” blobs had been launched as a core function of Ethereum’s Dencun improve in a bid to cut back transaction prices on layer-2 networks by a big margin.
Alongside a number of different enhancements, the Dencun improve permits for layer 2s to make use of blobs as a substitute of a calldata perform for briefly storing information whereas executing transactions, leading to cheaper finish prices for customers.
Cline’s Bee Film script will solely exist on the Ethereum community for one more few weeks, as Blobs are “pruned” after roughly 18 days — the period of time required for a layer 2 to retrieve the information contained inside.
Mason Corridor, an engineer and funding accomplice at crypto enterprise capital agency a16z reported doing the identical factor lower than an hour later, reporting it value him $5 to execute.
On the time of publication, three Ethereum layer-2 networks — Starknet, ZkSync, Optimism and Base — have carried out blobs on their networks, per Dune Analytics information.
In a March 14 publish to X, Base lead developer Jesse Pollak introduced that the combination of blobs on the Base community had seen transaction charges fall from round $0.31 to near-zero.
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Over 2,000 blobs have been posted on Ethereum’s Beacon Chain, with Starknet accounting for 74% of all blobs submitted because the Dencun improve was rolled out on the Ethereum mainnet on March 13.
Outdoors of EIP-4844, the Dencun improve incorporates one other eight EIPs designed to enhance a wide selection of features on the community, together with consensus, execution, and information prices.
This contains EIP-1153, which introduces a “transient storage” system to additional scale back charges, in addition to EIP-4788, which will increase transparency by storing the basis of every Beacon Chain block in a wise contract that may be queried by purposes.
Builders anticipate the information supplied by EIP-4788 for use in new options for bridges and staking swimming pools.
The discount in charges on swaps and transactions on Ethereum layer 2s will solely kick in as soon as the networks start integrating EIP-4844 on the networks.
On the time of publication, swap charges on the biggest layer-2 community, Arbitrum, are nonetheless operating round $1.16, whereas swap charges on Polygon stand at $1.46, per L2 Charges information.
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