A new way of inscribing data on the Ethereum network is sending the price of the network’s newest data-saving feature dubbed “blobs” surging.
A viral new method for minting data to the Ethereum blockchain dubbed “BlobScriptions” is pushing up the price of Blob fees — the amount required for a blob to be included in an Ethereum block.on March 27 by a protocol called Ethscriptions, allowing users to inscribe data — from JPEGs to text — directly onto “blobs,” which were introduced to the Ethereum network as part of the network’s
Less than five hours after the introduction of BlobScriptions, the gas fees for Blobs soared as high as 585 gwei — equivalent to roughly $18, according to This was a far cry from the average gas price for minting data on a blob before BlobScriptions, which averaged around one wei, equivalent to a tiny fraction of $0.01.However, Blob fees have since fallen considerably from its newly notched high. At the time of publication, blob fees are running at 35.8 gwei, equivalent to $1.20, per Coinbrain conversion
In a March 27 post to X, Ethscriptions founder Tom Lehman — who goes by the alias Middlemarch — noted the spiking cost of “blobspace,” and urged users to mint BlobScriptions via the official blobscriptionMuch in a similar way to the early days of Bitcoin Ordinals, Ethereum users are opting to mint small pieces of text and seemingly random assortments of images to blobs, with the most recent activity on blobscription.io showing hundreds of new images added in the last few hours.
Transaction fees on Ethereum L2s fell drastically following the Dencun upgrade, with swap fees on Arbitrum plunging from around $1.25 to below $0.02, while Polygon fees fell by a similar amount.on an Ethereum blob less than 15 minutes after the upgrade went live all for less than $13 in ETH gas fees.
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