Vitalik Buterin proposes a “multidimensional” EIP-1559 to solve the high GAS fees on the Ethereum network – DiarioBitcoin

For Angel Di Matteo @shadowargel

Buterin’s proposal proposes to solve the high rates of GAS by operations in the network, although it contemplates two alternatives that vary in complexity to address this aspect.

***

The lead developer and co-founder of Ethereum, Vitalik Buterin, presented a new proposal for future update for the Blockchain of the project, which substantially improves the changes implemented during the EIP-1559 and would address the problem of high tariffs GAS associated with operations through the network.

Buterin propone un EIP-1559 multidimensional

The update proposed by Buterin would be called EIP-1559 “multidimensional” which proposes to address the problems in commission margins by differentiating between the different types of uses and operations that run through the network, highlighting the use of the Ethereum Virtual Machine (EVM), block data, token data, and state size fill, data that is grouped into a “Unique multidimensional resource”.

Faced with the problem that the current system does not handle the differences in the limits for the various resources present in the EVM efficiently, Buterin explained that the transaction and its data would only consume 3% of the GAS present in a block, so some of these could contain 67 times more information than an average block.

In response, the lead developer of Ethereum proposed two alternatives that could be considered for the EIP-1559 multidimensional:

  • The first option contemplates that the price of gas is calculated by dividing the base rate of a resource unit by the free rate. This is the easiest alternative to implement.
  • For its part, the other option is a bit more complex and involves establishing base rates for the use of resources at a price. Here there would be no limit of GAS associated with the block but there are usage limits for each resource, so priority rates would also be modified based on percentages.

The importance of EIP-1559

In August 2021 a new update was launched for the network of Ethereum, which contemplated the EIP-1559 in response to problems in calculating rates of GAS for operations, this being one of the problems that most affects network users interested in operating the different use cases available there.

One of the greatest benefits that this brought with it was the introduction of a burning system for part of the commissions associated with the blocks, with which new deflationary properties were introduced for the digital currency, with days in which it was destroyed more. ETH from which it was produced.

However, this did not improve the problems with the high GAS, so one of the solutions that are demanded in the short term is a cut in them in order to make transactions via the network viable. Although there are second layer solutions and work is being done on the so-called Rollups, There are still no native solutions that provide an answer to this problem.

The proposal recently presented by Buterin has had mixed receptivity. On the one hand, there are those who consider this a reasonable suggestion that would involve a lot of work for developers, while others are concerned about the compatibility problems that this could bring to previous versions of the EVM.

It only remains to wait

While the developers continue to work on it, it seems that for now we just have to wait and see if some of these or other proposals come to place to solve the problems of consumption of GAS by the network.

Now all eyes are on changing the consensus algorithm for the network of Ethereum, which will soon migrate to Proof-of-Stake after the implementation of The Merge, which is expected to occur during the first half of 2022. We will see if this solves the problems associated with transactions, or if more proposed changes are needed within the roadmap for this to see the light.


Recommended reading


Fountain: CryptoBriefing, Ethresear

Version by Angel Di Matteo / Daily bitcoin

Picture of Unsplash

We would like to thank the author of this write-up for this remarkable content

Vitalik Buterin proposes a “multidimensional” EIP-1559 to solve the high GAS fees on the Ethereum network – DiarioBitcoin

First Media Marketing