The next big Ethereum upgrade may reduce the price of gas

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Vitalik Buterin has offered a new EIP-4488 protocol aimed at eliminating transaction costs

The next big Ethereum upgrade may reduce the price of gas

03.12.2021 - 13:30

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What’s new? Vitalik Buterin has introduced the Ethereum Improvement Protocol (EIP) to help stabilize gas prices.

Link to the protocol

How does Buterin comment on it? The Ethereum co-founder is concerned about the rising fees. He states that he is going “to reduce the gas cost for Calldata transactions and add a cap on the amount of the shared transaction data per block.” He says the new EIP-4488 upgrade will help reduce the load on the network, improve security and protect the blockchain from the so-called “ultimate strength.”

What do the Ethereum developers say about this? Buterin's new offer has drawn criticism from the blockchain developers. They argue that the new network upgrade may lead to a drop in the rollup transactions, resulting in users paying even more.

“The additional restrictions may require an even higher fee to outperform other rollups competing in the same space as Calldata.”

Author:

Editorial GetBlock Magazine

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