There is a new term in the crypto land — blobspace.
Before understanding blobspace, let’s first do a quick refresher on data availability. Check out Episode 88 of the podcast.
Data availability is about making the L2 block data available on the L1s. For Optimistic rollups — to build fraud proofs. For ZK Rollups — to know the state transitions.
How do we make data available? By posting it on the L1 chain. Currently it is being posted as a hack — utilising the CALLDATA field in Ethereum transaction format. But that is inefficient and expensive.
To improve data availability on Ethereum, an update is planned to introduce posting of data blobs on the L1. This would make data availability cheaper and more efficient for rollups.
The data blobs posted by L2s with their transaction data have their own dedicated space inside the blocks. This space is logically separate from the L1 transaction data and is informally called as blobspace.
Episode 102 - What is Blobspace?