A new Ethereum Improvement Proposal, EIP-7732, is introduced by Ethereum developers to tackle inefficiencies within the network. This proposal aims to enhance the speed and efficiency of the blockchain by revolutionizing the block validation process. EIP-7732 proposes a unique approach called Enshrined Proposer-Builder Separation (EPBS) to partition block validation tasks into consensus and execution phases. The consensus proposer is responsible for selecting the execution proposer, optimizing the blockchain's functionality to adapt to the expanding user base.
The Ethereum network has long struggled with delays and inefficiencies due to validators handling both consensus and execution tasks. The proposed upgrade offered by EIP-7732 allows validators to focus solely on immediate consensus validation, delegating execution validation tasks. This strategy aims to improve network performance and security while promoting trust-free exchanges between builders and proposers, streamlining the block validation process for a better user experience.
Founder of Ethereum, Vitalik Buterin accentuates the importance of swift transaction confirmations for blockchain users. Post the successful implementation of EIP-1559, there has been a significant reduction in transaction confirmation times to 5-20 seconds.
The Ethereum blockchain faces a challenge as Pump.fun, a token launchpad built on Solana, outperforms Ethereum in daily revenue, generating $2 million compared to Ethereum's $1.91 million. Pump.fun's success is attributed to Solana's lower transaction costs. Concurrently, Ethereum's native token ETH experiences a decline in value amidst market fluctuations, plummeting from $3.5k to $2.8k within a week.
Market volatility poses risks for a prominent Ethereum whale holding substantial leveraged positions in ETH. A whale risks liquidation if the price of ETH falls below $2,984. Another whale makes sizeable investments in ETH and various cryptocurrencies, withdrawing $120 million from Binance with Ethereum being the major purchase in the portfolio.
