Ethereum Fusaka Upgrade Sparks Significant Increase in Blob Base Fee

According to PANews, Liquid Capital founder Yi Lihua stated on the X platform that the Ethereum Fusaka upgrade has led to a 15 million-fold increase in the blob base fee. The primary reason for this surge is the introduction of a 'minimum mechanism' for blob fees under EIP-7918. Previously, blob fees had no minimum limit and were often stuck at 1 wei, which is nearly free. This situation resulted in nodes bearing the costs of KZG verification without reasonable compensation. Following the upgrade, blob fees must be at least 1/15.258 of the L1 execution base fee, directly aligning with actual network costs. This design ensures that prices reflect real resource consumption, preventing Layer 2 from using network resources without compensation. It also allows price fluctuations to regulate blob traffic and prevent congestion, while PeerDAS technology enhances blob storage capacity. Additionally, blob fees are now part of the ETH burning mechanism. It is estimated that this could lead to an eightfold increase in ETH burning, potentially contributing 30-50% of the total burn by 2026, depending on the growth of Layer 2 transaction volumes.