Blobs are the spaces inside the Ethereum blocks which enable validators to record individual transactions into them.
These transactions are then rolled up as a bundle and their summary is recorded on the Ethereum blockchain.
This is opposed to the previous norm which recorded each single transaction. The life time of a blob is around 3 months on the Ethereum Blockchain.
Blobs were introduced on the Ethereum Blockchain through the Dencun Upgrade on 13 March 2024.
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Blobs vs Call Data
Call Data is the empty space on an Ethereum block which is used by Optimistic Rollups. These empty spaces are used to record individual transactions. Then all these transactions are rolled up and their summary is validated.
Unlike Call Data which stays on the Ethereum Blockchain and makes it bulky, Blobs are deleted three months after their creation which keeps the Blockchain lightweight in the long run.