Vitalik Buterin Proposes New Ethereum Gas Fee Model for Call Data
Table of contents
Current Gas Fee Structure
Currently, Ethereum transactions incur two types of gas fees: one for transaction execution, which covers the computational effort required to execute a transaction, and another for storage, which is the cost of storing data in “blobs.”
Proposed Changes
Buterin's EIP 7706 introduces a third type of gas fee solely for call data. This change means that the Ethereum blockchain will allocate a unique charge to data transferred during transactions, distinct from the costs of executing contract code or storing data. The new model will add a transaction type that provides max_basefee and priority_fee as a vector, offering values for execution gas, blob gas, and call data gas.
Unified Gas Fee Management
Buterin suggests a unified approach to managing all three types of gas fees. The dynamic model proposed will modify fees simultaneously, aiming to reduce the overall costs associated with data-heavy transactions that are not computationally intensive. He notes, “the theoretical max call data size of a block would be greatly reduced, while basic economic analysis suggests that on average, call data would become considerably cheaper.”
Addressing Scalability and Cost Issues
The Ethereum network has long struggled with high gas fees, which was one of the main motivations behind transitioning from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism to enhance scalability and reduce costs. Despite this, the expected improvements in scalability have not fully materialized, making proposals like EIP 7706 crucial for the network's evolution.
If accepted, EIP 7706 could significantly lower transaction costs for data-heavy operations, making the Ethereum network more efficient and cost-effective for users. This proposal highlights Ethereum's continuous efforts to address scalability and cost challenges, ensuring the network remains competitive and user-friendly.