Ethereum stunners are putting bee movies on blobs for up to $5.
In true decadent fashion, it took less than 13 minutes after the Ethereum Dencun update was launched for someone to upload the entire bee movie script to the network – at a cost of only about $14.
Ethereum developer Dan Klein claims to be the first to install a full-length script on the Blockchain with a new update that aims to significantly reduce fees on Ethereum Layer 2s.
“I didn't find the first bib movie, but as far as I can tell I found the first bee movie on the mainnet,” Kline wrote in a March 13 post to X.
Uploading a bee movie script is a long-running joke outside of crypto circles, which usually involves a competition to seed a full-length script on new networks and blockchain-related activities. The trend stems from the Big Bee movie meme, which involves posting the entire length of the script on social media whenever possible.
Blobscan data shows that the script was uploaded at 2:08 pm UTC on March 13, 13 minutes after Denkun's update went live. According to data from Eterscan, the transaction cost a total of $13.88.
Also known as EIP-4844 or “proto-danksharding”, Blobs is proposed as a key feature of the Ethereum Dencun update to reduce transaction costs on layer-2 networks by a significant margin.
Alongside several other improvements, Denkun's update allows it to use blobs instead of calling data functions to temporarily store data while executing transactions, resulting in cheaper end-user costs.
Since Blobs are “cut” after approximately 18 days, the Cline Bee Movie script will only live on the Ethereum network for another few weeks – the amount of time it takes to mine the data in Layer 2.
Mason Hall, an engineer and investment partner at crypto venture capital firm a16z, reported doing the same thing less than an hour later, reporting that it cost him $5 to execute.
At the time of publication, three Ethereum layer-2 networks – Starknet, ZkSync, Optimism and Base – have implemented spikes in their networks based on data from Dune Analytics.
In a March 14 post for X, Base lead developer Jesse Pollak announced that the integration of blobs on the Base network has seen transaction fees drop from $0.31 to close to zero.
Related: Industry veterans share praise, skepticism, as Ethereum Dencun update goes live
More than 2,000 blobs have been posted on Ethereum's Beacon Chain, with Starknet accounting for 74 percent of all blobs submitted since Denkun's update to the Ethereum mainnet on March 13.
In addition to EIP-4844, Denkun's upgrade includes eight other EIPs designed to improve various functions on the network, including interoperability, performance, and data costs.
This includes the EIP-1153 “Transitional Storage” system to further reduce fees and the EIP-4788 by storing the root of each Beacon Chain block in a smart contract that can be requested by applications.
Developers expect the information provided by EIP-4788 to be used in new features for bridges and containers.
The reduction in transaction and transaction fees on Ethereum layer 2 will only begin after networks start integrating EIP-4844 on their networks.
At the time of publication, interchange fees still run around $1.16 on the largest Layer-2 network, Arbitrum, while interchange fees on Polygon stand at $1.46 per L2 fees data.
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