EIP-4844, also known as proto-danksharding, is a proposed upgrade to the Ethereum protocol that aims to improve scalability and reduce gas fees. It does this by introducing a new transaction type called a blob-carrying transaction. Blob-carrying transactions are like regular Ethereum transactions, but they also carry an extra piece of data called a blob. These blobs are considerably large (~125 kB) and cheaper than the current calldata — an immutable and read-only memory for storing transaction data.
EIP-4844 is a transitional upgrade that will ultimately lead to full danksharding in the future, thereby enabling Ethereum to manage the capacity for a global transaction network.
Here are some of the benefits of EIP-4844:
- Improved scalability: EIP-4844 can help to improve the scalability of the Ethereum network by offloading some of the processing and data storage requirements to the Layer 2 network. This can allow the Ethereum network to process more transactions per second and handle more data.
- Reduced costs: EIP-4844 can help to reduce the costs of using the Ethereum network by reducing the amount of gas that is required to process transactions. This can make the Ethereum network more affordable to use for a wider range of users.
- Improved security: EIP-4844 can help to improve the security of the Ethereum network by offloading some of the processing and data storage requirements to the Layer 2 network. This can make it more difficult for attackers to exploit vulnerabilities in the Ethereum network.
EIP-4844 is still under development, but it has the potential to significantly improve the scalability, performance, and security of the Ethereum network. This could make Ethereum a more widely adopted and used blockchain platform.
Here are some of the drawbacks of EIP-4844:
- Complexity: EIP-4844 is a complex upgrade, and it will require a significant amount of work to implement.
- Security: There are some security concerns associated with EIP-4844, such as the potential for malicious actors to exploit vulnerabilities in the blob format.
- Compatibility: EIP-4844 is not backward-compatible, which means that it will not be possible to use older versions of Ethereum software with the upgraded network.
Overall, EIP-4844 is a promising upgrade that has the potential to significantly improve the scalability, performance, and security of the Ethereum network. However, there are some challenges that will need to be addressed before the upgrade can be implemented.