Coinbase joins the Ethereum Foundation with expectations of decreasing the cost and speed of ETH transactions.

Crypto exchange Coinbase announced collaborating with the Ethereum Foundation and Optimism teams to hasten the EIP-4844 upgrade. The planned proto-danksharding or EIP-4844 upgrade will lower gas fees and boost transaction speed on the Ethereum Layer-2 rollups. In fact, Coinbase is committing engineering resources and testing the EIP-4844 to further push crypto acceptance.

Coinbase Support EIP-4844 Upgrade for Ethereum Scalability
Coinbase in a press statement on October 7 announced public support and contributions to the impending EIP-4844 update. The improvement will grow Layer-2 rollups to boost transaction throughput and cut transaction fees by 10-100 times.

Coinbase believes the EIP-4844 will draw people into the ecosystem due to better security, ease of use, and faster and cheaper transactions. Moreover, it will enable institutional acceptance and advancements to Web3.

Coinbase is working with the Ethereum Foundation and Optimism teams to hasten the EIP-4844 upgrade. Moreover, the crypto exchange focused engineering resources for testing the EIP-4844. Until now, the united team has a full specification for the execution and consensus clients, releases for the Ethereum clients Prysm and Geth, preparations for the KZG ceremony, and deployed Devnet v1.

EIP-4844 minimizes fees with a new transaction type to Ethereum that accepts “blobs” of data in the beacon node for a brief amount of time. It is forward-compatible and keeps disk use to a minimum.

In reality, anyone including a rollup, an exchange, or interested individuals can contribute and support the EIP-4844 for the upcoming “Surge” advancements.

Ethereum (ETH) Price After the Upgrade
Ethereum (ETH) price is most likely to climb higher with the EIP-4844 update due to increasing retail and institutional use. The enhanced transaction speed and reduced cost will aid businesses and the larger ecosystem. Also, managing a high number of transactions through Layer-2 rollups is an ideal strategy.

At the time of writing, the ETH price is trading over the $1,350 barrier, continuing sideways trend from the start of the month.

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