Ethereum Set to Speed Up with New Proposal to Reduce Block Times

A new proposal could significantly increase the speed and efficiency of the Ethereum blockchain by reducing block times. Ethereum Improvement Proposal (EIP) 7781, introduced by Ben Adams on October 5, aims to cut block times from 12 seconds to 8 seconds. This change would not only reduce processing time by 33%, but also boost Ethereum’s data capacity by 50%, enhancing overall network performance.

Enhancing Network Efficiency and Reducing Fees

The proposed reduction in block times is designed to improve Ethereum’s scalability and throughput. One key focus of EIP-7781 is optimizing rollup latency, which would increase the capacity of temporary data structures known as “blobs.” These improvements could lead to lower transaction fees on Ethereum’s layer-2 networks, benefiting users who rely on these solutions for faster and cheaper transactions.

Justin Drake, a researcher with the Ethereum Foundation, voiced his support for the proposal, highlighting its potential to improve decentralized exchanges like Uniswap. Drake stated that “reducing block times would improve decentralized exchanges like Uniswap by making them around 22% more efficient.” He also noted that it could save $100 million annually by reducing arbitrage between centralized and decentralized exchanges, which would improve the overall user experience.

While the proposal brings many benefits, there are concerns regarding its impact on smaller, independent stakers. Shorter block times could increase hardware requirements, making it more challenging for solo stakers to keep up with the blockchain. Adam Cochran, from Cinnehaim Ventures, expressed cautious optimism, urging additional testing to ensure the proposal does not create barriers for home-based stakers.

Despite these concerns, EIP-7781 represents a significant step toward improving Ethereum’s core infrastructure. If implemented, it would align with broader efforts to scale the network and improve efficiency at its base layer.