The implementation of EIP-4844, also known as 4844/blobs, on Optimism has significantly reduced transaction costs, marking a notable advancement in Ethereum's scalability and efficiency. Users have reported drastic reductions in fees, with Synthetix Perps gas costs dropping from $3 to $0.14 cents, and other transactions seeing fees as low as $0.01 or even $0.0004, highlighting an 800x cost savings. This development has made Optimism cheaper for transactions than Solana, emphasizing the potential of Layer 2 solutions (L2s) like rollups in enhancing Ethereum's performance and user experience. The community has expressed enthusiasm for the cost savings, the potential for increased adoption, and onboarding of new users to the Ethereum network, declaring that 'Scalable Ethereum has arrived' and 'Long live Rollups.'
Just did my first 10 transactions on @Optimism post-blobs. All had transaction fees of $0.01 or less. Scalable Ethereum has arrived.
And after blobs it's officially cheaper to tx on Optimism than Solana. Long live Rollups. Long Live Ethereumโ๏ธ๐ผ https://t.co/5hk47resMM https://t.co/bs4yPSHlZK
And some of y'all doubted L2s ๐คจ Check out the 800x cost savings on Optimism! Can't wait to see the savings on Arbitrum tomorrow! https://t.co/jGH5udwctQ
Crazy reduction in fees thanks to 4844/blobs And remember, this is only the beginning! https://t.co/H22HHJpcJZ
EIP-4844 is now live on @Optimism, slashing Synthetix Perps gas costs from $3 to just 0.14 cents! Congrats to everyone who made this happen. This is how we'll onboard the next wave of users onchain and scale Ethereum!
Optimism just enabled 4844 a few min ago. From $0.32 to $0.0004 for a transaction! Will rise over time as blob congestion picks up; but looks incredible to see how cheap we can make Ethereum! https://t.co/2XmErvWbms