Ethereum Developers Propose EIP-7732 to Boost Blockchain Efficiency

Ethereum Developers Propose EIP-7732 to Revolutionize Block Validation and Speed Up Blockchain

Ethereum developers have unveiled a new Ethereum Improvement Proposal (EIP-7732) that aims to transform the block validation process and significantly enhance the speed and efficiency of the Ethereum blockchain. This proposal is a crucial step in addressing the increasing demand for efficiency within the Ethereum network, aligning with co-founder Vitalik Buterin's ongoing efforts to achieve faster transaction confirmation times.

EIP-7732 introduces groundbreaking changes to the block validation process, aiming to bolster the blockchain's security and performance by bifurcating the process into distinct consensus and execution phases. This innovative approach, known as Enshrined Proposer-Builder Separation (EPBS), seeks to streamline and optimize the blockchain's functionality, catering to the growing needs of its user base.

At the heart of EIP-7732 is the EPBS mechanism, which separates block creation into two primary roles: the consensus proposer and the execution proposer. The consensus proposer is tasked with selecting the execution proposer, who then commits to producing a valid block that contains crucial information, such as a payment or block hash, for the consensus proposer.

A specialized group of validators, termed the Payload Timeliness Committee (PTC), is responsible for ensuring that the execution proposer submits the committed block within the stipulated timeframe. This separation of duties is designed to reduce the computational load on validators, thereby increasing the network's efficiency and speed.

Why EIP-7732 Matters

The proposal is a response to the current inefficiencies within the Ethereum blockchain, where validators are required to perform both consensus and execution tasks within a limited timeframe. This dual responsibility can lead to potential delays and inefficiencies. By enabling validators to concentrate on immediate consensus validation and defer execution validation, EIP-7732 aims to mitigate these issues without compromising network performance or security.

Additionally, the proposal advocates for a trust-free exchange between builders and proposers, ensuring payment and the inclusion of valid blocks without the need for middleware. This aspect is crucial in simplifying the block validation process and enhancing the overall user experience on the Ethereum network.

Celebrity-Inspired Meme Coins Propel Pump.fun to Revenue Supremacy Over Ethereum

In a related development, celebrity-inspired meme coins have catapulted token launchpad Pump.fun to unprecedented revenue heights, surpassing the Ethereum blockchain's daily earnings for the first time. This surge, fueled by the popularity of these quirky digital assets, has positioned Pump.fun as the highest revenue-generating blockchain platform, according to DefiLlama data.

On a record-setting day, Pump.fun amassed $2 million in daily revenue, eclipsing Ethereum's $1.91 million. This milestone highlights the platform's explosive growth and its appeal to crypto enthusiasts seeking the next big trend. Data from Dune Analytics shed some light on this rapid expansion, revealing that 11,528 tokens were deployed on Pump.fun in a single day, bringing the cumulative total to an impressive 1,199,685 tokens. The platform's cumulative revenue has now reached $50.9 million.

Ethereum Whale Faces Liquidation Threat Amid Market Turmoil

Meanwhile, the crypto market is in a state of heightened volatility, and a significant Ethereum (ETH) whale is on the verge of liquidation, according to analytics X account @lookonchain. This whale, who has taken a substantial long position on ETH, stands to lose over $30 million in borrowed crypto if the Ethereum price continues to decline.

Data from @lookonchain reveals that this whale deposited 12,374 ETH into the Compound protocol, leveraging this deposit to borrow $31.4 million in stablecoins. The precarious nature of this position lies in the fact that if Ethereum's price dips to $2,984, the whale's long positions will be forcibly liquidated. Over the past 24 hours, the leading altcoin's price has dropped below this threshold.

As the market watches the price of Ethereum with bated breath, another significant player has entered the fray. A different whale recently acquired 9,425 ETH, amounting to slightly more than $30 million, through a fresh wallet. This whale's aggressive buying spree didn't stop at Ethereum; they also purchased a variety of other cryptocurrencies, including BNB, MATIC, LINK, AVAX, and popular meme coins like Shiba Inu, Dogecoin, Pepe Coin, and Floki. In total, this whale withdrew an astounding $120 million worth of altcoins from Binance, making Ethereum the largest single purchase in their portfolio.