A new method for inscribing data on Ethereum blobs is wreaking havoc on fees for the data-saving feature.
A viral new method for minting data to the Ethereum blockchain dubbed “BlobScriptions” is pushing up the price of Blob fees — the amount required for a blob to be included in an Ethereum block.
BlobScriptions were introduced on March 27 by a protocol called Ethscriptions, allowing users to inscribe data — from JPEGs to text — directly onto “blobs,” which were introduced to the Ethereum network as part of the network’s Dencun upgrade on March 13.
Less than five hours after the introduction of BlobScriptions, the gas fees for Blobs soared as high as 585 gwei — equivalent to roughly $18, according to data from Ultrasound.money.
