Vitalik Buterin – the famous Ethereum (ETH) co-founder – introduced a new Ethereum Improvement Proposal, with the aim of reducing the platform’s network fees by 100 times.
Sharding is a type of technology that divides nodes into groups, and then verifies transactions in parallel with each other. The workload will be distributed in such a way that each node is not responsible for the transaction processing of the entire network.
Ethereum is often severely congested, resulting in users paying large fees while completing transactions. So sharding will help increase the transaction throughput of a blockchain. This new sharding solution is expected to take a considerable amount of time before implementation begins.
The new solution is called EIP-4844 or Proto-Danksharding. This is a new type of sharding process that focuses on “multi-blob transactions” that the EVM cannot handle. If implemented, Proto-danksharding will replace danksharding, a process of orchestrating Ethereum into a single, available and unified data layer.
Besides, Ethereum also executes many different projects to increase the scalability of this blockchain. Optimism, a Layer 2 Ethereum solution, announced on March 18 that it has raised $150 million in a Series B funding round led by Andreessen Horowitz (a16z) and Paradigm. Currently, Optimism is valued at $1.65 billion, and is one of the projects being pushed to implement proto-danksharding.
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