Ethereum developers introduced a new Ethereum Improvement Proposal (EIP) called EIP-7732, aiming to overhaul the block validation process and speed up the blockchain network. The proposal brings significant changes to block validation to enhance the blockchain network’s security and performance by separating the process into consensus and execution. EIP-7732 responds to the increasing demand for efficiency in the Ethereum network and follows Ethereum co-founder Vitalik Buterin’s efforts for faster transaction confirmation times.
Ethereum Ecosystem Continues to Develop
The core element of EIP-7732 is the Enshrined Proposer-Builder Separation (EPBS) solution, which splits block creation into a consensus proposer and an execution proposer. The consensus proposer selects the execution proposer, who then promises to produce a valid block containing crucial information like payment or block hash for the proposer.
A group of validators known as the Payload Timeliness Committee (PTC) ensures that the execution proposer sends the promised block on time. By separating the consensus and execution layers, EIP-7732 aims to increase network efficiency and speed while reducing the computational load on validators.
Ethereum network requires validators to perform consensus and execution roles within a short timeframe, potentially leading to inefficiencies and delays. EPBS will allow validators to focus on instant consensus validation and defer execution validation to a later time without compromising network performance and security.
Details on the Subject
The proposed solution also suggests a trustless exchange between developers and proposers, guaranteeing payment and ensuring the inclusion of valid blocks, eliminating the need for middleware. According to Buterin’s post on June 30, one of the key features of a good blockchain user experience is fast transaction confirmation times.
EIP-1559’s transaction fee overhaul and fixed block times post-Merge have reduced transaction confirmation on Ethereum to 5-20 seconds. Although comparable to credit card transactions, some applications require significantly higher speeds, which is very different from the current 12-second Gasper consensus mechanism.
With the discussion of EIP-7732 and the promise of proposed changes, higher transaction speeds may be imminent, but this could come at the cost of another hard fork process with backward-incompatible changes.
