Ethereum Foundation Researchers Discuss Blob Fee Mechanism

According to BlockBeats, on September 5, Ethereum Foundation core researcher Davide Crapis addressed a question during the 12th Ethereum Foundation AMA regarding whether the target average for blobs should be lowered to ensure fee price discovery if the target is not met. Crapis responded that the target should not be lowered. He explained that the mechanism is designed to price congestion, so if there is no congestion, it is acceptable for prices to remain low. However, he noted that current demand being far below the target value affects price discovery during congestion. Crapis emphasized the importance of price discovery and suggested that making the mechanism more effective through short-term changes, such as increasing the minimum fee (while keeping it very low) or altering the update speed, could be beneficial. Another core researcher, Dankrad Feist, commented on the same issue, stating that Ethereum is currently creating a new market for rollups, specifically the data availability (DA) market. He mentioned that many alternative solutions, such as Celestia, Eigenlayer, and Avail, aim to capture market share from Ethereum. These alternatives cannot compete on security, so they aim to compete on price. Feist asserted that the revenue from three blobs per block will never significantly impact Ethereum's protocol revenue. He believes that in the coming years, efforts should be made to scale as much as possible. Regardless of the approach, Feist does not consider blob fees to be the best value capture mechanism for Ethereum.