EF conducted a Reddit Ask Me Anything (AMA) event covering essential network scaling issues, security matters, and Layer 1 revenue generation.
The Reddit discussion occurred while community members were apprehensive about Pectra’s upgrade as leaders changed hands at the EBDS.
Petra upgrade and network enhancements
During the AMA, EF researcher Justin Drake provided insights into the Pectra upgrade, which is expected to roll out in the coming months. The upgrade will increase the number of “blob” transactions per block from three to six, which Drake believes will significantly reduce blob transaction fees. To ensure the update’s security, the foundation has launched a $2 million bug bounty program, running until March 24.
Ethereum’s scaling strategy remains a top priority, with researchers discussing the challenges posed by its growing data layer. Drake and co-researcher Dankrad Feist dismissed concerns about EigenLayer’s alternative data availability solution affecting Ethereum’s revenue. They emphasized that multiple approaches, including blobs and EigenDA, can coexist and contribute to the network’s expansion.
Economic strategy and security concerns
Vitalik Buterin responded to concerns regarding Ethereum’s economic model, defending the foundation’s decision to take a share of revenue from Layer 2 solutions and native roll-ups. He also warned about the risks associated with staking providers, wallets, and custody services, urging the adoption of interoperability standards to safeguard Ethereum’s decentralization.
EIP-7762 received attention during the discussion which proposed an increase for blob transaction base fees. Several community members support the proposed fee increase according to EF researcher Barnabé Monnot although he worries that these changes might introduce complicated fee policies like taxation systems. According to Buterin fees should primarily remain low so the network can achieve greater adoption while sustaining its economic expansion.
Leadership transition and community response
The AMA occurred as Ethereum faced increased scrutiny over its leadership and competition from rival blockchains like Solana. Calls for new leadership have intensified recently, with criticism that the foundation has not done enough to support developers. Executive Director Aya Miyaguchi decided to transition into a different role as president of the Switzerland-based nonprofit organization controlling Ethereum.
According to Miyaguchi’s published statement the foundation supported its commitment to maintain objective credibility for partner institutions. Under Miyaguchi’s leadership Ethereum moved to proof-of-stake consensus during 2022 which resulted in a 99% decrease of its carbon emissions. The Ethereum platform dedicates its funding toward scaling improvements and interoperability enhancements with chosen engineering tools instead of performing deadline-driven experimental tests.