Vitalik Buterin Shares New Sharding Proposal – What You Should Know About EIP-4844

Ahead of the much-anticipated Ethereum migration from Proof of Work (PoW) to Proof of Stake (PoS), the Ethereum Foundation announced the successful merge on the ‘Kiln’ testnet.

With sharding, an important aspect of the PoS network, Vitalik Buterin, Ethereum’s co-founder, has taken to Twitter to share ideas for EIP-4844, where he introduced a new concept called “Proto-danksharding”

Buterin Proposes New Updates in EIP-4844

The Proto-Danksharding proposed by Buterin will replace the “merged fee market,” in which one proposer on the network chooses all transactions, and all data fits into that slot instead of separate proposers for every shard.

Buterin’s solution in EIP-4844 can be an interim variant as it includes the implementation of some danksharding elements. However, at the same time, pro-danksharding is expected to lead to increased data usage as it requires a much greater block size.

As a fix to this drawback, Vitalik Buterin also included a function in his proposal that auto-deletes blob data every 30 days. Doing so will prevent the network from having excessive data and memory storage requirements.

On the Flipside

  • Since implementing EIP-1559 during the ‘London‘ Hardfork, over two million Ether tokens (worth approximately $5.7 billion) have been burnt.

Why You Should Care

The EIP-4844 proposal is one of many updates put forth by Buterin seeking to bring tremendous changes to the Ethereum network as it evolves into a PoS model.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).