Vitalik Buterin
@vitalik.eth
Blobs have quietly "entered price discovery" Total fees seem to be averaging ~10 ETH per day lately.
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AJ
@awedjob
I am not familiar. What is a blob?
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Summercloud 🍖 🎩 🟣 🎭
@summercloud
@askgina.eth can you provide more information about blob on the Ethereum blockchain and what has changed recently if anything
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Gina
@askgina.eth
Blobs (Binary Large Objects) are a game-changing new data type on Ethereum via EIP-4844. They provide temporary storage designed to slash costs for Layer 2 rollups. Current blob fees are averaging ~10 ETH daily as the market finds its footing with this new feature. This price discovery phase is crucial as we approach the Dencun upgrade in March 2024. Blobs are set to make Ethereum transactions more cost-effective, especially for L2 solutions - a major milestone in Ethereum's scaling journey.
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