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- Ethereum co-founder proposed a new limit on the total transaction calldata in a block
- Vitalik Buterin showed concerns about the rising transaction fees on Layer-1 blockchain for rollups and the considerable amount of time to implement and deploy sharding
- The gas costs parameters could be decreased without further adding a limit to the block size
Ethereum is the second most popular cryptocurrency that will soon shift to the Proof-of-Stake mechanism. Vitalik Buterin, the co-founder of the crypto project has recently proposed a new limit on the total transaction calldata in a block. According to Buterin such limit will help reduce the overall transaction calldata gas fee over the Ether network. Indeed, Buterin’s decrease-cost-and-cap proposal aims to minimize the unprecedented levels of strain and risk breaking the network.
Vitalik Buterin concerns Ethereum high gas fees
Vitalik Buterin has recently shared a post on the Ethereum Magicians forum, EIP-4488. The post showed concerns about the rising transaction fees on Layer-1 blockchain for rollups and the considerable amount of time to implement and deploy sharding. Following such notable issues, Buterin highlighted a short-term solution to further cut costs for rollups. Moreover, the solution will also incentivize an ecosystem-wide transition to a rollup-centric Ether.
Why buterin issue a decrease-cost-and-cap proposal?
Notably, as The Ether co-founder was explaining an alternative wherein the gas costs parameters could be decreased without further adding a limit to the block size, Buterin foresees a security concern in decreasing the calldata gas fee from 16 to 3. He further explained that such measures would increase the maximum block size to 10 million bytes and push the network’s Peer-to-Peer networking layer to unprecedented levels of strain. Such levels will ultimately bring risks of breaking the blockchain.
Following such concerns, Buterin published a decrease-cost-and-cap proposal. Indeed, the proposal aims to achieve the goal of minimizing the unprecedented levels of strain and risk breaking the network. Moreover, the proposal believes that 1.5 megabytes will be sufficient while preventing most of the security risk.
According to Buterin, It is worth rethinking the historical opposition to multi-dimensional resource limits and considering them as a pragmatic way to achieve moderate scalability gains. Indeed, such measures will also retain the security of the blockchain.
Implementation requires a scheduled upgrade
If the Ethereum community accepts the change proposal, the implementation will require a scheduled network upgrade. Such upgrade will ultimately result in a backward-incompatible gas repricing for the Ether ecosystem. Such upgrade will also mean that miners will have to comply with the new rules that will help prevent the addition of new transactions into a block when the total calldata size reaches the maximum.
According to the proposal, a worst case scenario would be a theoretical long-run maximum of ~1,262,861 bytes per 12 sec slot, or ~3 Terabyte per year. However, the community has continued to discuss other options like implementation of a soft limit. Others also raised concerns regarding the congestion during Non-Fungible Token (NFT) sales. Such implementation may require NFT owners to compensate for the lack of execution gas by paying a higher total fee.
