News05 May 2022

Vitalik and the gas standard

Share

Vitalik "Our Ethereum Hero" Buterin has expressed his opinion on the cost of transactions on L2 networks. He believes that life will be beautiful when a transaction costs no more than $0.05. Oh, Vitalik, good words!

At the moment, a transaction on the Ethereum network will cost about $3, and a swap will cost $16.

L2 is a bit better: $0.02 on Metis and $0.14 for swap.

In short, Vitalik is asleep and looking forward to lower commissions and has high hopes for proto-dunksharing or EIP-4844.

Moni educational:

Proto-danksharding will enable a new type of transaction, dubbed the "transaction carrying large binary objects", which contains an additional 125KB of data (large binary objects) that cannot be accessed by the Ethereum Virtual Machine (EVM).

The general idea is that this will help significantly scale the network in the short term while reducing congestion and competition for gas usage, thereby lowering gas charges.

Share

Join 25,000+ crypto founders, speculators and researchers.

Another Stuff