Ethereum co-founder Vitallic Butlerin and Developer Enders Aloeson have introduced EP-7999, a proposal to streamline the transaction fee structure of Etreum.
On Tuesday, the proposal attempts to set up an integrated multidimensional fee market, allowing users to talk at a single total maximum fee for many results.
The proposal, if adopted, will eliminate the requirement of estability and manage multiple fees components when the transaction is submitted and users are allowed to specify an all-encouncy maximum fee, allowing them to pay for transition, which makes it simple and more estimated.
The proposal has been described as a way to simplify fee management to users, by specifying a single maximum fee accident transactions resources, to improving capital and user experience. ”
This is further under community review and discussion of potential equipment.
Atherium problem with gas fees for a long time
The gas fee of the atherium has been a frequent challenge since the rapid growth of the network in 2017, when the cost of decentralized applications (DAPP) and early coin prasad (ICOS) has increased.
The situation spoiled the 2021 DEFI summer and NFT boom when conscious gas fee often except $ 50 per transaction.
In response, Etreum implemented the EP-1559 upgrade in August 2021, which introduced a base and aims to stabilize the fees. Although it has helped in moderate fees spikes, the period of high union has still resulted in unstable and sometimes prohibitory gas costs.
To reduce the burden more, 2 scaling solutions such as optimism and mediation gained popularity, processing the transactions to low fees. However, the main fees of the atherium resumed a Kankrir, inspiring efforts to conclude at Dankun upgrade in March 2024.
Impact of Dencun: Gas fees fall because the contestants get land
The DENCun upgrade implemented on March 13, 2024, especially for 2 questions for long, intrauded nine Etreum Improment proposals (EPS) for low transactions costs and low transactions costs.
Within a year, the average gas fee for general transactions dropped 95%, from about $ 86 to $ 0.39, according to the data from Ethrakain. The native token value of the atherium fell more than 50%, reflecting broad market challenges.
Etharium still remains a top blockchain by transaction fee revenue in 2024, earning $ 2.48 billion, 2023 has increased by 3% in 2023.
In the same year, Tron’s fees grew to more than $ 2.15 billion, which increased the most driving by Stabechoin transactions, and Solna’s fee increased by 2,838% to $ 750 million between spikes in network activity.
In the last 365 days, for data from token terminals, the revenue of the atherium generated from fees in this writing is $ 757.4 million.
