According to PANews, data from Dune Analytics shows that Ethereum blobs are being used to create inscriptions, similar to Ordinal on Bitcoin, and usage has reached a new record. Dune Analytics platform user Hildobby reported that on March 27, there were 2,437 blob inscriptions, accounting for 22.8% of the total blobs released that day. This is the highest usage rate among other Ethereum Layer 2 solutions, such as Arbitrum, Optimism, Base, and Linea.
In addition, the increase in the number of blob inscriptions coincided with a surge in fees on Base, which at one point reached $300 before dropping to around $30. Ethereum's slot utilization rate is also declining, possibly due to blobs causing an increase in block size.
Hildobby wrote on the Dune Analytics website: 'Inscriptions on the EVM chain are data embeddings in transaction call data, similar to Ordinal on Bitcoin, designed to mimic the diversity of smart contract-based ERC-20 and NFTs. However, inscriptions go against the design decisions of the EVM, with gas costs being the only benefit, but at the expense of indexing, incompatibility, and integration challenges.'