Lowering ETH Gas Costs: Vitalik Buterin Offers a Solution

Vitalik Buterin, co-founder of Ethereum (ETH), has proposed a new solution to reduce gas costs that are currently too high. He wants the transaction invocation data in the block to be limited. In this way, the overall cost of gas on the ETH network will be significantly reduced.

problem solving

“A short-term solution is required to further reduce pooling costs and drive an ecosystem-wide transaction toward cumulative-based Ethereum.” This is the statement made by Mr. Buterin at the Ethereum Magicians forum, EIP-4488. Hence he remembers that gas costs are a major concern not only for traders, but also for network builders.

Although the contractor mentioned an alternative by which the gas cost parameters could be lowered without adding an additional block size limit, it plans There is a security problem. According to him, such a process “It will increase the maximum block size to 10 million bytes and push ethereum’s P2P network layer to unprecedented levels of effort.” The result is that we can see a network ‘break’.

Mr. Buterin also took the opportunity to advise the community. “Equal Rethinking the historical opposition It limits multidimensional resources and sees it as a practical way to achieve moderate scalability gains while maintaining security.”

Well discussed solution

If Mr. Buterin’s proposal is accepted, it will require its implementation network upgrade. This will undoubtedly lead to new gas pricing for the ETH ecosystem. But what does promotion mean?

The upgrade assumes that miners comply with a new rule. In the name of this rule, it will be impossible to add new transactions to a block when the total size of the connection data reaches a maximum. “The worst-case scenario is a long-term theoretical maximum of about 1,262,861 bytes per 12-second period, or about 3.0 terabytes per year,” refers to the proposal.

At the moment, although the file De Vitalik Patrine’s suggestion Seems in practical theory, it is still hotly debated by the community. Some offer other solutions. On the other hand, others have raised new concerns regarding Sales congestion of non-redeemable tokens (NFT). This situation may force users to make up for the shortfall in uptime gas by paying a higher total fee.

The rising cost of gas on the Ethereum (ETH) network is a concern for many people. In fact, this has led to the migration of Ethereum (ETH) users to networks that are easy to deal with. Concerned about this, Ethereum co-founder Vitalik Buterin has suggested a new solution, but it is far from unanimous.

TCT writing

Behind the public signature “TCT Editorial Staff” are young journalists and authors with specific profiles who wish to remain anonymous because they participate in the ecosystem with certain commitments.