CM|Dec 05, 2025 08:28
After the upgrade of Fusaka, the skyrocketing blob base fee has received a lot of attention. Does it mean that ETH destruction will increase? I conducted an evaluation:
Firstly, after Dencun introduced blob, it is a relatively simple billing model that is only related to blob usage. When the demand is not filled, the supply of blob is greater than the demand, so there is no competition. At this time, the blob base fee will approach the algorithm's lower limit of 1 wei.
The biggest problem here is that it is not linked to the L1 base fee. L1 and L2 are somewhat decoupled economically and have been at the physical lower limit of 1 wei for a long time. Of course, if the demand for L2 is high, the blob base fee will still be considerable. Fundamentally, it is still due to the lack of ecological demand. However, from the perspective of algorithm design, the original approach was indeed too crude.
After Fusaka, EIP-7918 optimized the algorithm:
Linking the blob base fee to the L1 base fee will provide a guaranteed price, approximately equal to 1/16 of the L1 base fee. So theoretically, there will never be a price as low as 1 wei again. How much change will this have?
The gas quotes we often see in L1 are in gwei units, so even if L1 gas is only 0.1 gwei, taking 1/16 and converting it to blob base fee would still result in a huge improvement compared to 1 wei. (1 gwei=1 billion wei) Teacher Blue Fox's statement of 15 million times is not an exaggeration.
Here, there will be an increase in ETH burning compared to before.
But the purpose of EIP-7918 is not to make blob base fees more expensive, as this would mean losing competitiveness against third-party DAs such as EigenDA and Celestia, who are eyeing it. Its goal is to make this value more reasonable, so another change it has made is to increase the limit on the upward curve, which means that if there is an explosive growth in demand, the blob base fee will not suddenly spiral out of control and soar to a particularly high level.
Simply put, it means making the blob base fee algorithm more reasonable and stable, which is a reserve price+rate limit model:
(1) The blob base fee must not be lower than the reserve price linked to L1 base_fee.
(2) Use rate limit to prevent prices from getting out of control instantly.
How much improvement will there be?
Blockworks conducted a data backtesting: if EIP-7918 is enabled from June 1, 2025, the blob fee burn during the same period will be approximately 8 times higher. However, it should be noted that it refers to the "blob fee portion burn" of 8x, not the total ETH burn of 8x.
The problem here is that before the outbreak of L2, this "8-fold" growth actually went from very little to slightly acceptable.
Conclusion:
It can be clearly concluded that this change has improved ETH combustion, and its biggest contribution is to solve the original unreasonable pricing, change the phenomenon of L2 taking advantage of L1, and align the overall economy of Ethereum. But the scale of this combustion increase depends on the development of L2. Another research institution's prediction is that when L2 begins to take shape, it can burn an additional 200000 to 400000 ETH per year, with the core driving force being usage. We can be optimistic that the development of L2 in the future is not completely unrelated to Ethereum. Economically, they have begun to become a whole.
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