{"id":"eip-7516","version":1,"language":"en","title":"EIP-7516","hidden":false,"content":"**EIP-7516** is an [Ethereum Improvement Proposal](https://iq.wiki/wiki/ethereum-improvement-proposal-eip) allowing [smart contracts](https://iq.wiki/wiki/smart-contract) to access the current base fee for data blobs on-chain directly. EIP-7516 helps [rollup](https://iq.wiki/wiki/rollup) contracts to manage and predict their data [blob](https://iq.wiki/wiki/blobs) costs more effectively.[\\[1\\]](#cite-id-l1x0prm7kw)  \n$$widget0 [YOUTUBE@VID](VUita9Yl9gY)$$  \n  \n# Overview  \n  \nEIP-7516 “BLOBBASEFEE opcode” Introduces the opcode BLOBBASEFEE, which is the same as the BASEFEE opcode associated with the EIP-3198 protocol, except that BLOBBASEFEE returns the basic fee for a Blob according to the [EIP-4844 ](https://iq.wiki/wiki/eip-4844)protocol included in the current Cancún upgrade.[\\[4\\]](#cite-id-0v49rct808de)  \n  \nAs the blob market fluctuates via the dynamic pricing model,[ layer 2](https://iq.wiki/wiki/layer-2) contracts will need near real-time pricing information of the [blob](https://iq.wiki/wiki/blobs) market to ensure proper accounting. Alongside [EIP-4844](https://iq.wiki/wiki/eip-4844), the corresponding EIP-7516 will ship to create the opcode BLOBBASEFEE, which rollups and layer 2s will utilize to query the current blob base-fee from the block header.[\\[3\\]](#cite-id-95ys8n8d04c)  \n  \nEIP-7516 is an improvement directly related to [proto-danksharding](https://iq.wiki/wiki/eip-4844), introducing the BLOBBASEFEE opcode to enable[ smart contracts ](https://iq.wiki/wiki/smart-contract)to programmatically access the current blob base fee. This feature is particularly useful for contracts dealing with large data [blobs](https://iq.wiki/wiki/blobs), as it allows them to account for the blob gas price in a trustless manner. The cost is identical to the BASEFEE opcode's cost, reflecting the simplicity of making available data that is already in the header.[\\[1\\]](#cite-id-l1x0prm7kw)  \n  \n# Authors  \n  \n* Carl Beekhuizen","summary":"EIP-7516 is an Ethereum Improvement Proposal enabling smart contracts to directly access the base fee for data blobs on-chain for efficient cost management.","categories":[{"id":"defi","title":"defi"}],"promoted":0,"tags":[{"id":"Ethereum"},{"id":"Blockchains"},{"id":"Glossary"}],"metadata":[{"id":"references","value":"[{\"id\":\"l1x0prm7kw\",\"url\":\"https://blog.thirdweb.com/dencun-upgrade-ethereum/#:~:text=EIP%2D7516%20introduces%20the%20BLOBBASEFEE,data%20blob%20costs%20more%20effectively.\",\"description\":\"Thirdweb - What is the Dencun Upgrade on Ethereum?\",\"timestamp\":1712973557093},{\"id\":\"cwmhrop1x0h\",\"url\":\"https://eips.ethereum.org/EIPS/eip-7516\",\"description\":\"Ethereum Improvement Proposals - EIP-7516: BLOBBASEFEE instruction\",\"timestamp\":1712974153598},{\"id\":\"95ys8n8d04c\",\"url\":\"https://consensys.io/blog/ethereum-evolved-dencun-upgrade-part-5-eip-4844\",\"description\":\"Consensys - Ethereum Evolved: Dencun Upgrade Part 5, EIP-4844\",\"timestamp\":1712974829153},{\"id\":\"0v49rct808de\",\"url\":\"https://medium.com/@lollipop3labs/eip7516-with-blobbasefee-opcode-f7976bbc991b\",\"description\":\"Medium - EIP7516 with Blobbasefee opcode\",\"timestamp\":1712975312173}]"},{"id":"website","value":"https://eips.ethereum.org/EIPS/eip-7516"},{"id":"youtube_profile","value":"https://www.youtube.com/watch?v=VUita9Yl9gY&list=PL4cwHXAawZxpnKFDl1KzGOKqwux5JaLlv"},{"id":"medium_profile","value":"https://medium.com/@lollipop3labs/eip7516-with-blobbasefee-opcode-f7976bbc991b"}],"user":{"id":"0xF8bD29570D276c593125205A714D2623B311D2ce"},"author":{"id":""},"media":[{"name":"VUita9Yl9gY","size":0,"id":"https://www.youtube.com/watch?v=VUita9Yl9gY","source":"YOUTUBE"}],"views":0,"events":[],"linkedWikis":{"founders":[],"blockchains":[],"speakers":[]},"images":[{"id":"QmYkCn9k8ZgQJxchqAad7wFgJ3tbDVtkieRjzaSPfTZ7aq","type":"image/jpeg, image/png"}]}