Ethereum developers won’t solve high fees problem anytime soon

Ethereum developers won’t solve high fees problem anytime soon

On Friday, all Ethereum development teams participated in discussions on how to optimize gas use. Despite a number of possible solutions, they all need testing and agreement.

Starting in June, due to the increased activity of users of decentralized projects, transaction fees on the Ethereum network began to grow rapidly, reaching a record high of $ 16 in September. This jump not only affects users, but also reduces the overall efficiency of the platform.

To resolve the issue, the developers held a meeting to consider various Ethereum Improvement Proposals (EIP), which may affect gas consumption and cost. An important proposal considered was EIP-2711, which will allow one account to pay the commission of other users, generate transaction packages that are guaranteed to be executed in the order of departure and set an automatic time limit for transactions that have entered the mempool.

These changes can result in gas savings and cancellation of failed transactions. However, this proposal is at the preliminary consideration stage, and so far there are no decisions on it.

The teams also raised the issue of using gas tokens, which, during the issuance process, can artificially inflate the value of Gwei. Although, according to the calculations of the researchers, their emission is about 2% of the total gas volume, but due to the negative impact, the developers want to find a way to limit the negative effect or completely ban their release.

The developers further discussed the recently proposed EIP-2929 by Vitalik Buterin and Martin Svende, which also increases gas costs for some storage operations. In parallel, this mechanism increases the level of network security against DoS attacks and ultimately will reduce the cost of other transactions. However, due to a number of complex changes that may follow the implementation of the protocol, the developers decided to postpone the discussion of the issue in order to study the possible consequences in more detail.

Although the meeting considered various options for resolving high gas costs, they all need more in-depth study and testing. These mechanisms can be added not earlier than the next Berlin hard fork, so in the near future the situation with the commission will depend only on the network load.

, Shutterstock

Ethereum developers won’t solve high fees problem anytime soon

Leave a Comment