EIP-7781 is the latest proposal to improve the overall performance of the Ethereum network. The proposal aims to reduce the slot time (block time) from 12 seconds to 8 seconds. So what is EIP-7781, and how will it impact the Ethereum network and developers?
The Context for EIP-7781
Currently, Ethereum uses a Proof-of-Stake (PoS) consensus mechanism with a slot time (block time) of 12 seconds. Despite significant improvements after The Merge, it has not kept pace with the growth of the application layer, with users and developers demanding more from Ethereum:
- Demand for speed and scalability: With the explosion of DeFi applications, NFTs, and Layer 2 solutions, Ethereum is facing tremendous pressure on scalability and transaction processing speed. Users want faster transaction confirmations, while developers need a platform that can handle the increasing transaction volume without sacrificing performance.
- Limitations of increasing block size or blob count: A direct solution to increase transaction throughput is to increase the gas limit or the number of blobs. However, these options come with certain trade-offs, requiring higher bandwidth and potentially hindering network communication. Increasing the block size can also lead to centralization, as only powerful nodes can participate in the network.
EIP-7781 emerges in this context, proposing to reduce the slot time to 8 seconds, aiming to increase transaction throughput by an additional 33% without increasing the block size or the number of blobs.
What is EIP-7781?
EIP-7781 proposes reducing the slot time (block time) from 12 seconds to 8 seconds by changing the SECONDS_PER_SLOT parameter in Ethereum’s PoS consensus protocol from 12 to 8. It maintains the current block and blob sizes to help the network distribute the load more evenly over time.
Furthermore, EIP-7781 also requires the implementation of EIP-7623 (adjusting calldata costs) and EIP-7778 (eliminating gas “smuggling” via refunds) to ensure network stability and efficiency with the higher block rate.
Benefits of EIP-7781
EIP-7781 offers two main benefits:
- Increases overall Ethereum network performance by 33%: Reducing the slot time from 12 seconds to 8 seconds equates to a 33% increase in network performance. This allows for more computational resources and blobs to be utilized within the same timeframe.
- Improves user experience: Reducing slot time also means significantly faster transaction confirmation times, which will generally enhance the user experience on the Ethereum Mainnet. Users will feel their transactions are processed more quickly than before.
In addition, the higher performance and lower latency that EIP-7781 brings also directly and positively impact Layer 2 solutions built on Ethereum. Layer 2s will have more computational resources and blobs to improve user experience and keep transaction fees low for users on their platforms.
Trade-offs Surrounding EIP-7781
The benefits of EIP-7781 come with certain trade-offs for the Ethereum network.
Increased Network Pressure
Although the block size remains unchanged, increasing the block frequency can lead to higher overall bandwidth requirements. Nodes with limited bandwidth may have difficulty keeping up with the network, leading to the risk of being dropped from the network.
In addition, shortening the slot time means validators have less time to prepare and propagate blocks. This could lead to an increased risk of missing attestation or block proposal opportunities.
Network Stability
Alongside the views supporting EIP-7781, concerns about network stability have also been raised. For example, shorter block propagation times could increase the risk of forks or re-orgs, affecting network stability. This needs careful consideration.
Impact on Participants with Low Bandwidth
Another issue to consider is whether reducing the slot time increases pressure on those with weak network connections. They may not be able to meet the new requirements, impacting the decentralization of the network.
State and History Growth
Creating more blocks in a given timeframe leads to faster state growth, putting pressure on storage and processing. The increased number of blocks also increases the size of the history that nodes must store, requiring higher storage capacity. With EIP-4444 not yet implemented, historical data growth remains a significant concern.
