Ethereum co-founder Vitalik Buterin has posted a new EIP-4488 improvement proposal for Ethereum. It will reduce transaction fees, but it can harm second-tier solutions.
In his proposal, Buterin notes that at the first level of Ethereum, transaction fees are extremely high, and there is still a long way to the introduction of sharding, which will solve this problem. Transaction fees in second-tier solutions are also often high. For example, the commission in an Arbitrum solution can exceed $ 10. And while this is significantly less than the main network commissions, it is still too much.
To partially solve this problem, the co-founder of Ethereum proposed to reduce the amount of gas required for transactions from roll-up-based solutions. If now the commission per calldata byte in such transactions is 16 units, then in EIP-4488 it is reduced to 3 units. This will increase the number of operations carried out using second-tier solutions.
Buterin also proposes to be the first to conduct the smallest transactions in order to fit the maximum number of transactions into a block. At the same time, transactions from second-tier solutions are always distinguished by a large volume.
As the community representatives noted, during times of increased network load, for example, with large NFT sales, transactions from second-tier solutions will be constantly delayed. Of course, this is solved by increasing commissions, but then there will be practically no benefit from using second-tier solutions. On the other hand, during normal times, commissions for such transactions will drop fivefold.
Note that if EIP-4488 is approved, Ethereum will face a new hard fork with fairly large-scale changes. In this case, old clients will not be able to work on the network after the upgrade.
At the end of October, it was reported that since the end of June, the commission in ETH increased by 2,293% and reached $ 51.45. At the time of publication, this figure is $ 45.
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