Meme Web3
@web3memee
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My post from 1.5 years about "assessing demand drivers for ETH" had the line "Needless to say, we’ll need to wait for EIP-4844 to assess this."
Now that EIP-4844 is out for half a year, it's indeed time to do so. As such, I'd downgrade the significance of "L2 fee burns" from 2/10 to 1/10. While it's very likely demand for blobspace is gradually going up, supply is up even more with PeerDAS imminent, plus full sharding & Nielsen's Law making blob count up only. Cross-L2 interoperability has also been much less required than anticipated, as most users are happy to stick to their chosen L2, or bridge between only occasionally
So, why was I (mildly) wrong? I did not fully understand the concept of strict global consensus then, which I only wrote about in depth later in 2023. With a better grasp of the true demand landscape for blobspace, the 1/10 is obvious
Also, this is great for Ethereum/ETH in the same way as building public roads
https://polynya.mirror.xyz/GPC26Y_rlwCyPpj_N3HeW_izY1-pIVwKW5bjuPNrGeQ 27 replies
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