EIP-7732: Splits validator tasks and creates a TTX for Ethereum foundation and upgrade validation. He described the amendments to the Ethereum Improvement Proposal (EIP) 7732 to Revamp Block Validation for Blockchain Efficiency.
The proposal also brings significant changes to block validation which can improve the existing blockchain mechanism by providing the separation of consensus and execution layers.
It conforms to Vitalik Buterin’s new direction that has stemmed from the increased demand for Ethereum platform efficiency, as epitomized by EIP-7732 that seeks to attempt at shortening the time taken in the confirmation of transactions.
Specific Provisions of the Proposal
EIP-7732 Devoted to Ensuring Proper Implementation of Enshrined Proposer-Builder Separation (EPBS) For Enhancing Blockchain Transactions.
In the course of the EPBS process of EIP-7732, the consensus proposer selects the execution proposer pledging to create a valid block with important information including payments or block hashes among others.
A group of validators known as the Payload Timeliness Committee (PTC) confirms the block was submitted by the execution proposer as agreed-upon.
Understanding the Significance: Why It Matters
By separating validator responsibilities and the load with EIP-7732, Ethereum plans to traverse the consensus layer and execution layer, thus helping to increase the Ethereum network speed and performance.
This separation is necessary to consider due to their performance within tight timeframes, which is possibly simultaneously typical for the Ethereum blockchain.
It means that the validators of the EPBS can focus on the consensus validation while ignoring the execution validation effectively, without making any compromise on the stability or the speed of the network.
The solution allows for a seamless flow of transaction where the builder and proposer do not need to entrust their payments or block inclusion on any form of middleware.
Vitalik’s Motivation for Stepping on the Gas on Ethereum
In a post dated June 30th,
“One of the important properties of a good blockchain user experience is fast transaction confirmation times.“
But after EIP 1559 that set new transaction fees and with constant block intervals post Merge Ethereum provides confirmation in transactions in 5-20 seconds.
With regard to transactions we already have credit card transaction like speed in Ethereum, but there are applications that require even more speed than the current 12 second Gasper consensus imparts.
Since EIP-7732 is still a work in progress with the proposed changes suggesting that future implementations will run faster transactions and to attain this, there might be a need to perform another DAO hard fork where the changes will be incompatible with the previous version.
