Coinbase supports EIP-4844 release on Ethereum

Coinbase supports EIP-4844 release on Ethereum

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by dapp_writer005

4 years ago

Cryptocurrency exchange Coinbase starts cooperation with Ethereum Foundation and Optimism solutions. This integration will help to complete the update process for the Ethereum improvement proposal - EIP-4844. As a result, developers want to reduce gas fees by several times and increase the speed of transactions. Including, it is a question of reduction of a payment for operations in rollup-solutions. Also, Coinbase is conducting an EIP-4844 test for further work with cryptocurrency.

According to Brian Armstrong, director of Coinbase, scalability will add new use cases for cryptocurrencies.

Coinbase is supporting the release of the EIP-4844 update and believes it will help to attract more customers through enhanced security, ease of use and profitable transactions. Moreover, it contributes to the development of Web3.

The crypto exchange has already allocated a number of resources to test the EIP-4844 mechanism. At the moment, the team has a work plan and releases for Ethereum clients Prysm and Geth. Also, preparations are underway for the launch of the test network Devnet v1.

EIP-4844 regulates fees by adding a new transaction type for Ethereum. This system is compatible with previous versions and does not require additional settings.

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