The Ethereum upgrade, EIP-4844, also known as proto-danksharding, aimed at reducing gas fees, is a great driving force for Synthetix Network (SNX), Optimism (OP), and Borroe ($ROE).
Ethereum Upgrade Fueling $ROE Demand
The Ethereum Improvement Proposal (EIP) is a protocol that allows improvements to be introduced to Ethereum. Developers use EIPs to propose new features and solutions for the Ethereum protocol.
Transaction fees on layer 1 are high, and there is a need for a significant reduction. While some networks provide lower fees than Ethereum’s L1, they remain too expensive for many users. Data sharding seemed like the long-term solution, but implementing and deploying would take much time.
EIP-4844 makes a difference by providing a stop-gap solution for support by implementing the transaction format that would be used, though not actually sharding the transactions.
The data from the transaction format is part of the beacon chain and is downloaded by the consensus nodes. EIP-
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