Ethereum Rollups Will Be 5X Cheaper, Meet EIP4488! - CryptoTicker

While the debate rages on around increasing block sizes and reducing block times to provide a band-aid level urgent fix for L1 scaling, Ethereum developers are considering more medium to long-term solutions. Ethereum rollups are the standard when it comes to L2 scaling solutions. Now it appears that they are about to 5 times cheaper, thanks to a new Ethereum Improvement Proposal EIP-4488 penned by the cofounder Vitalik Buterin himself along with Ansgar Dietrichs – research and development engineer at ConsenSys on Nov 23.

EIP-4488 notes that even though Ethereum rollups would eventually benefit from the sharding technology which will add ~1-2 MB dedicated for rollups to the blockchain, however, that is still years away. In the meanwhile, considering the high fees of the Ethereum base layer, EIP-4488 can be employed for immediate relief by reducing calldata gas cost and limiting total calldata in a block, thereby resulting in cheaper transactions on the Ethereum rollups L2s.

The Ethereum rollups enhancing EIP-4488 might be implemented in Q1 2022 before the Merge and will be a hard fork, meaning that it’s backward incompatible. It’s understood that EIP4488 will increase chain bloat, raising the storage requirements of chain history. However, EIP-4444 is being discussed to restrict the availability of historical data beyond one year as it doesn’t have much use on the peer-to-peer layer, though some sources will still store this data for record-keeping purposes.

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