Blocknative

@blocknative

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How do gas fees work on the Superchain?? The latest edition of our 101 gas guides with @optimism 👇 https://www.blocknative.com/blog/optimism-101-how-gas-works-on-optimism

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There’s a disconnect between the desire for efficient blockchain markets and the lack of efficient gas fee pricing. You can’t have one without the other.

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Gas is a fact of life in the blockchain ecosystem. No matter who you are or what you do, you must deal with gas. And it is vastly more complex than most of the industry understands. Most people don't really know how gas works. You might understand one area of it really well, but many other aspects matter. How would you describe gas in one sentence?

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Blocknative is all-in on gas. That means: gas estimation, gas prediction, gas optimization, and gas decisioning. See you at the pump ⛽.

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If you and your team could use help navigating the increasingly complex world of gas, DM us – our team at Blocknative is building the tooling and infrastructure you need so that your users do not get lost or left behind.

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As we move forward, we believe it is important for researchers, developers, and L2’s to consider these realities when analyzing network health and designing scaling solutions.

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When we look at average blockspace utilization by builder, “All Other Builders” blocks declined 20%. The target block space of 15MM gas used appears to be out of reach for self-built blocks and the ‘challenger’ builders that are not in the top four.

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Just tried comparing my flight delay to a stuck transaction. Time to touch grass

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Interesting article @blocknative. Private transactions are causing the base fee to be volatile & detached from the actual demand for blockspace. This could be an issue if we want to build markets more efficient than tradfi www.blocknative.com/blog/how-self-built-blocks-unintentionally-introduce-base-fee-volatility

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We invite the community to review our initial findings and provide feedback. The blob marketplace is only getting more saturated and we welcome more research to help EIP 4844 reach its full potential. https://www.blocknative.com/blog/june-20th-blob-contention-event-retrospective

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The Blob market is still in its early days and every L2 had different approaches on how to handle this event. Some L2s switched to calldata ( Optimism and Arbitrum) while others halted settlement to the L1 altogether (Scroll).

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Due to the dynamics of the Blob market - low block builder inclusion and the mechanisms for issuing replacement blobs - there was a rapid increase in the price of blob data.

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It is not lost to us that as we publish this retrospective post we are seeing another blob contention event (less than a week later) with the Blast airdrop.

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This inversion took only ~100 blocks - 20 minutes - for the entire market blob market to flip completely. It appears that the spark was due to an increase in activity on @arbitrum from their LayerZero airdrop - which backed up the blob mempool.

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During this inversion event, L2s incurred an estimated overpayment of ~166 ETH (approximately $550,000 USD).

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On Thursday, June 20, 2024, the Blob Base Fee spiked to 8,000 GWEI making blobdata more expensive than calldata for the second time since the Dencun upgrade.

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Last week we saw a 2nd blob inversion event where L2s incurred an overpayment of ~166 ETH. The team at Blocknative dug into the data to help understand what happened and why it happened. 🧵👇 https://www.blocknative.com/blog/june-20th-blob-contention-event-retrospective

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👉Add Web3 Onboard to your dapp Integrate Web3 Onboard in 5 minutes using our quick start guide here: https://www.blocknative.com/coinbase-wallet-integration . You’ll instantly gain access to over 80 software and hardware wallets, gas prediction, and more. And all of this in time for @coinbase onchain summer 🤓

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👉Dapps that are using Web3 Onboard Want to add Coinbase Smart Wallet to your setup? Follow the instructions here: https://onboard.blocknative.com/docs/wallets/coinbase

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.@coinbasewallet x Blocknative Enjoy the magic of Coinbase’s smart wallet with the ease of Web3 Onboard: 🔵WAGMI & EIP-6963 support 🔵Open-source, framework-agnostic 🔵Multi-wallet, multi-chain support 🔵Gas Estimation 🔵User-centric design https://onboard.blocknative.com/docs/wallets/coinbase

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