Core developer of Ethereum, Barnaby Mono, proposed reducing the block creation time in the network from 12 seconds to 6 seconds as part of the Ethereum Improvement Proposal (EIP-7782), planned to be included in the major update "Glastonbury" scheduled for late 2026. The goal is to enhance transaction speed and improve user experience across the network.
Key points:
1. Increased service price:
- Reducing block time will enhance the economic value of the Ethereum network as a settlement layer, improving the efficiency of decentralized finance (DeFi) and reducing opportunities for price manipulation (MEV).
2. Benefits for users and DeFi:
- Faster transactions and more frequent updates of data in wallets and decentralized applications (DApps).
- Improving liquidity of decentralized exchanges (DEXs) and reducing trading fees.
3. Potential challenges:
- Some validators may struggle to keep up with the faster timing, especially those with slow internet connections.
- Increased demand for bandwidth and the need for intensive testing to avoid network instability.
4. Technical changes:
- Reducing sub-process times:
- Block proposal time: from 4 to 3 seconds.
- Attestation time: from 4 to 1.5 seconds.
- Aggregation time: from 4 to 1.5 seconds.
5. Current context:
- U.S. Ethereum ETF funds have seen net inflows exceeding $4 billion, contributing to a 7% rise in ETH price to $2,411.91.
Summary:
The proposal is a bold step to enhance Ethereum's performance, but it needs careful assessment of the technical impacts before implementation in 2026.