Similar to the early stages of bitcoin Ordinals, ethereum users are creating signups with the help of 'blobs', which were introduced to the network as part of its Dencun update on March 13.
This week saw the highest share of signups among all blob releases, surpassing usage on ethereum Layer 2 networks.
ethereum Spots Spark Flurry of Activity
According to Dune Analytics data from pseudonymous user 'Hildobby', 2,437 blob enrollments were published. Recorded on March 27, which, interestingly, accounted for almost 23% of daily blob posts. This level of activity even overshadowed prominent ethereum Layer 2 options like Arbitrum, Optimism, Base, and Linea.
The concept of bearer blob transactions was first introduced with EIP-4844. It was a crucial upgrade within ethereum that aimed to reduce transaction fees, particularly on Layer 2 networks, while also improving scalability through Proto-Danksharding.
Like bitcoin Ordinals, where data is associated with the smallest unit of btc, blobs essentially allow data to be included in ethereum transactions. This is done without compromising block processing time and aligns with ethereum's ongoing efforts to optimize transaction costs on Layer 2 networks, a goal highlighted by the introduction of EIP-4844.
Enter 'BlobScriptions'
Another advancement for the ethereum ecosystem came in the form of 'BlobScriptions', which was inserted by the Ethscriptions protocol on March 27. BlobScriptions allow users to directly write different forms of data into blobs, from JPEG files to text. This approach has sparked a flurry of activity.
In fact, BlobScriptions witnessed a surge in popularity within hours of its introduction, driving blob rates to unprecedented levels. Gas rates for blobs soared above 500 gwei, according to data of “ultra-solid money,” indicating increased demand for this new method of data storage.
Despite the initial fee increase, BlobScriptions has attracted strong adoption, recording over 4,500 signups since its introduction. Users are taking advantage of this technology to create small pieces of text and images in blobs.
It is important to note that blob data is stored on ethereum nodes for approximately 18 days, after which it is removed from the network. However, the Ethscriptions indexer guarantees indefinite storage of data in an attempt to reduce data retention concerns.
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