On Wednesday morning, the Ethscriptions website created a way to mint inscriptions on EIP-4844 blobs, the cost-saving packets introduced in Ethereum’s recent Dencun upgrade, Blockworks reported. Like other blockchains that have received the inscription treatment, so-called BlobScriptions have significantly driven up the price of block space (or, in this case, blobspace). Since Dencun, the base fee for a blob (i.e. the minimum gas price required for a blob to be included in the next Ethereum block) has been one wei, an Ethereum-denominated price equivalent to a fraction of $0.01 USD part. Today, the blob base fee climbed above 500 gwei, according to ultrasound.money. 1 gwei is equivalent to 1 billion wei. At press time, the blob cost is about 6 gwei, a 60 trillion percent increase since Dencun compared to the cost of a blob of one wei. 6 gwei is about $0.20. It’s worth noting that despite the significant increase in blob fees, they are still lower than Ethereum’s first layer gas price, which is around 37 gwei. However, at the price of one wei, the blob space is effectively "free," Blocknative CEO Matt Cutler told Blockworks in a text message. “But the current base fee for Blobs is calculated in Gwei, which is far from free.” Inscriptions have experienced a resurgence in popularity on Bitcoin in recent months, providing a low-cost way to embed artwork or potential tokens on the blockchain. method. In the case of BlobScriptions, there are now many images and tokens inscribed on blobs. However, it is important to note that blob data is only retained by Ethereum nodes for approximately 18 days to allow the second layer to verify transactions. So after 18 days, BlobScriptions will disappear from Ethereum. However, BlobScriptions will still be stored in the indexer of the creator protocol's Ethscriptions, co-founder Tom Lehman said on X.