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Jayeharrill.eth
@ferns
I don't think people fully grasp how incredible the Dencun hardfork is. It's another step towards Ethereum truly being money and a store of value. Let me explain.
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Jayeharrill.eth
@ferns
With Blob data being now posted temporarily to the beacon chain allowing rollups to move where they post their verifications, the initial unlock is cheaper fees as rollups gobble up less and less calldata from a smart contract that is very expensive.
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Jayeharrill.eth
@ferns
But this blob data also has a floating price, and to do this the base fee is now algorithmically adjusting in real-time to network usage. This creates a future looking pricing model or index of which blob costs can be predicted and anticipated.
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Jayeharrill.eth
@ferns
But this is just the start. Currently, there is both the beacon chain that handles consensus and execution nodes running the EVM. It's not totally clear what the Ethereum roadmap will be as things shake out, but if Dencun is setting a precedent of moving DA to the beacon chain and changing the base fee... what is next?
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Jayeharrill.eth
@ferns
Well Ethereum currently burns used Ethereum dropping the supply, but this happens after execution, not as a part of block/slot propagation meaning that the network costs-in the expense of running the network before it reduces supply. But as supply decreases, there is a slow upward pressure on Eth price.
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Jayeharrill.eth
@ferns
If we see more algorithmic pricing in future upgrades, combined with the upward price pressure of Eth and the downward pressure of efficiency gains... and the eventual complete reduction of Bitcoin price shocks from mining fee halvings...
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