CandleFocus Ethereum (ETH) Gas Cost to Plummet by Four Times: Vitalik Buterin's Unexpected Statement
2024-10-24
Author: Content Editor
Ethereum co-founder, Vitalik Buterin, has proposed several changes to address the issue of high gas prices on the Ethereum network during times of high demand. His proposed adjustments include lowering gas costs for Ethereum Virtual Machine opcodes, reducing log gas costs, and implementing a precompile gas cost reduction. These changes aim to increase the overall throughput of the network and make smart contract execution more economical. By enhancing gas efficiency, Ethereum could better support decentralized finance applications, manage larger transaction volumes, and improve the user experience. Despite the positive impact of these changes, Ethereum's supply growth rate remains positive and the network continues to burn ETH. These proposed optimizations come at a time when Ethereum's gas fees are already relatively low.
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