The Writing is on the Wall: Analyzing the Boom of Inscriptions and its Impact on EVM-compatible Blockchains
Fuente:
arXiv
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| Autori principali: | , , , |
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| Natura: | Preprint |
| Pubblicazione: |
2024
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| _version_ | 1866917981283418112 |
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| author | Messias, Johnnatan Gogol, Krzysztof Silva, Maria Inês Livshits, Benjamin |
| author_facet | Messias, Johnnatan Gogol, Krzysztof Silva, Maria Inês Livshits, Benjamin |
| contents | This paper examines inscription-related transactions on Ethereum and major EVM-compatible rollups, assessing their impact on scalability during transaction surges. Our results show that, on certain days, inscriptions accounted for nearly 90% of transactions on Arbitrum and ZKsync Era, while 53% on Ethereum, with 99% of these inscriptions involving meme coin minting. Furthermore, we show that ZKsync and Arbitrum saw lower median gas fees during these surges. ZKsync Era, a ZK-rollup, showed a greater fee reduction than the optimistic rollups studied -- Arbitrum, Base, and Optimism. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2405_15288 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | The Writing is on the Wall: Analyzing the Boom of Inscriptions and its Impact on EVM-compatible Blockchains Messias, Johnnatan Gogol, Krzysztof Silva, Maria Inês Livshits, Benjamin Cryptography and Security This paper examines inscription-related transactions on Ethereum and major EVM-compatible rollups, assessing their impact on scalability during transaction surges. Our results show that, on certain days, inscriptions accounted for nearly 90% of transactions on Arbitrum and ZKsync Era, while 53% on Ethereum, with 99% of these inscriptions involving meme coin minting. Furthermore, we show that ZKsync and Arbitrum saw lower median gas fees during these surges. ZKsync Era, a ZK-rollup, showed a greater fee reduction than the optimistic rollups studied -- Arbitrum, Base, and Optimism. |
| title | The Writing is on the Wall: Analyzing the Boom of Inscriptions and its Impact on EVM-compatible Blockchains |
| topic | Cryptography and Security |
| url | https://arxiv.org/abs/2405.15288 |