According to Cointelegraph: Ethereum co-founder Vitalik Buterin has endorsed a new Ethereum Improvement Proposal (EIP-7732), designed to enhance the speed and efficiency of the Ethereum blockchain. This proposal addresses the growing demand for quicker transaction confirmations by overhauling the block validation process.
What is EIP-7732?
EIP-7732 introduces the Enshrined Proposer-Builder Separation (EPBS), a method that divides block creation into two distinct roles: the consensus proposer and the execution proposer. The consensus proposer selects the execution proposer, who is responsible for producing a valid block. This block must contain crucial information, such as a payment or block hash.
A committee of validators, known as the Payload Timeliness Committee (PTC), ensures that the execution proposer submits the promised block on time. This separation is intended to reduce the computational burden on validators and streamline the process.
Why EIP-7732 Matters
The primary goal of EIP-7732 is to increase the efficiency and speed of the Ethereum network by dividing the consensus and execution tasks. Currently, validators are required to perform both roles within a limited timeframe, leading to potential inefficiencies and delays. By separating these tasks, validators can focus on consensus validation immediately and defer execution validation, improving overall network performance without compromising security.
Additionally, the proposal suggests a trust-free exchange between builders and proposers, which guarantees payment and the inclusion of valid blocks, eliminating the need for middleware.
Vitalik Buterin’s Vision for a Faster Ethereum
Vitalik Buterin has consistently emphasized the importance of faster transaction confirmation times for a better blockchain user experience. In a recent post dated June 30, Buterin highlighted the need for speed, stating, “One of the important properties of a good blockchain user experience is fast transaction confirmation times.”
Due to EIP-1559's transaction fee revamp and consistent block times post-merge, Ethereum has already seen transaction confirmation times reduced to 5-20 seconds. However, certain applications require even faster speeds than the current 12-second Gasper consensus mechanism can provide.
EIP-7732 promises to reduce these times further, though it may require another hard fork with backwards-incompatible changes.
With EIP-7732 under discussion, the Ethereum community looks forward to potentially faster transaction speeds and enhanced network efficiency. This proposal reflects Vitalik Buterin’s ongoing commitment to improving Ethereum’s performance and user experience.
