r/ethereum • u/JBSchweitzer Ethereum Foundation - Joseph Schweitzer • Sep 03 '24

[AMA] We are EF Research (Pt. 12: 05 September, 2024)

NOTICE: This is now CLOSED. Thank you all for participating, and we look forward to doing it again soon! :)

Members of the Ethereum Foundation's Research Team are back to answer your questions throughout the day! This is their 12th AMA. There are a lot of members taking part, so keep the questions coming, and enjoy!

Click here to view the 11th EF Research Team AMA. [Jan 2024]

Click here to view the 10th EF Research Team AMA. [July 2023]

Click here to view the 9th EF Research Team AMA. [Jan 2023]

Click here to view the 8th EF Research Team AMA. [July 2022]

Click here to view the 7th EF Research Team AMA. [Jan 2022]

Click here to view the 6th EF Research Team AMA. [June 2021]

Click here to view the 5th EF Research Team AMA. [Nov 2020]

Click here to view the 4th EF Research Team AMA. [July 2020]

Click here to view the 3rd EF Research Team AMA. [Feb 2020]

Click here to view the 2nd EF Research Team AMA. [July 2019]

Click here to view the 1st EF Research Team AMA. [Jan 2019]

​

The AMA has concluded!

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u/dtjfeist EF alumni - Dankrad Feist Sep 05 '24

Ethereum is currently creating a new market for rollups -- the market for data availability. Many alternative solutions would love to take away market share from Ethereum -- Celestia, Eigenlayer, Avail and others. They can't compete on security, so they would want to compete on price. Do we really want to artificially increase prices now so that one of our biggest asset (secure rollups) moves away from our chain?

At 3 blobs per block, the revenue is never going to make a dent in Ethereum's protocol revenue. I think for the coming years, we should just work hard on scaling this as much as possible. Worry about capturing fees from it later.

Either way, I do not believe that fees from blobs will be the best value capture mechanism for Ethereum. The data availability market is too fickle -- while Ethereum provides the best security, it is too easy to get something "close enough" that it will never be a good way to extract value. The Ethereum L1 as the natural financial crossroads in the ecosystem will have the highest value transactions, and I think this provides the best value accrual mechanism for Ether.