Ethereum developers have introduced EIP-7732, a new Ethereum Improvement Proposal designed to enhance the block validation process and accelerate the blockchain. The proposal aims to boost security and performance by separating block validation into consensus and execution stages.
EIP-7732 addresses the increasing demand for efficiency on the Ethereum blockchain and aligns with Ethereum co-founder Vitalik Buterin’s initiative to achieve faster transaction confirmation times.
The core element of EIP-7732 is its Enshrined Proposer-Builder Separation (EPBS), which divides block creation into two roles: the consensus proposer and the execution proposer.
The consensus proposer selects the execution proposer, who then commits to producing a valid block containing critical information, such as a payment or block hash, for the consensus proposer.
A group of validators, referred to as the Payload Timeliness Committee (PTC), ensures that the execution proposer submits the promised block promptly.
Why it matters
EIP-7732 aims to enhance network efficiency and speed by reducing the computational load on validators through the separation of the consensus and execution layers.
Currently, the Ethereum blockchain requires validators to handle both consensus and execution tasks within a short timeframe, which can lead to inefficiencies and delays.
EPBS (Execution Payload Block Scheduling) would allow validators to immediately focus on validating consensus while deferring the execution validation to a later time. This approach maintains network performance and security without compromising either.
Additionally, the proposed solution introduces a trust-free exchange between builders and proposers. This guarantees the payment and inclusion of valid blocks, eliminating the need for middleware.
Vitalik’s Push for a Faster Ethereum
According to a June 30 post by Buterin, fast transaction confirmation times are crucial for a good blockchain user experience.
Thanks to EIP-1559’s overhaul of transaction fees and consistent block times post-Merge, Ethereum now achieves transaction confirmations in just 5-20 seconds.
While this rivals credit card transaction speeds, certain applications demand even faster performance, contrasting with the current 12-second Gasper consensus mechanism.
The ongoing discussion around EIP-7732 suggests potential changes that could further accelerate transaction speeds, albeit requiring another hard fork with backward-incompatible adjustments.