The Protocol: Vitalik Buterin’s Latest Proposal – Transaction Gas Cap
CoinDesk’s Protocol weekly wrap-up covers significant developments in cryptocurrency technology. This week’s key highlights include a new Ethereum proposal, a decentralized messaging protocol, a partnership between Volkswagen and Hivemapper, and layoffs at Eigen Labs.
Vitalik Buterin’s EIP-7983 proposes a 16.7 million gas cap for Ethereum transactions, aiming to improve network stability and efficiency. This addresses challenges caused by transactions consuming almost all available gas in a block.
Jack Dorsey’s Bitchat whitepaper details an offline, encrypted messaging protocol using Bluetooth Low Energy (BLE) to create a mesh network for resilient communication, even in censored environments. The decentralized, peer-to-peer nature echoes Bitcoin’s design.
Volkswagen’s autonomous driving subsidiary, ADMT, is partnering with Solana-based Hivemapper to utilize its crowdsourced mapping data for improving the precision of its self-driving technology. This collaboration showcases the growing adoption of decentralized physical infrastructure networks (DePIN).
Eigen Labs, the developer of EigenLayer, has laid off 25% of its staff to focus on building EigenCloud, a verifiable alternative to existing cloud services. This restructuring follows criticism and a decrease in total value locked.
Other notable news includes Bit Digital’s significant ETH holdings after swapping Bitcoin and a capital raise, totaling over 100,000 ETH. Donald Trump’s Media & Technology Group filed for a crypto ETF tracking BTC, ETH, SOL, XRP, and CRO.
Regulatory updates include a judge’s ruling to exclude discussion of OFAC sanctions against Tornado Cash in the Roman Storm trial. The Department of Justice charged two individuals involved in the OmegaPro Ponzi scheme, which defrauded investors of over $650 million.
Upcoming events include the Web3 Summit in Berlin (July 16-18), Korea Blockchain Week in Seoul (Sept. 22-28), Token2049 in Singapore (Oct. 1-2), and many more throughout the year, culminating with Consensus in Hong Kong (Feb. 10-12, 2026) and Miami (May 5-7, 2026).
