Vitalik proposes new ‘multidimensional’ Ethereum fee structure
Ethereum co-founder Vitalik Buterin has put his thinking cap on again in an attempt to improve the current fee structure for the network.
The proposal titled “Multidimensional EIP-1559” was laid out in a blog post on Jan. 5 in which Buterin noted that different resources in the Ethereum Virtual Machine (EVM) have different demands in terms of gas usage.
He added that there are different limits for short-term “burst” capacity as opposed to “sustained” capacity within the EVM citing examples of block data storage, witness data storage, and block state size changes.
The problem is that channeling all the different resources into a single one leads to “very sub-optimal gas costs” when these limits are misaligned, he added.
Buterin outlined his fairly complicated proposed changes with a lot of technical math, but in a nutshell, the proposal offered two potential solutions using “multidimensional” pricing.
The first option would calculate the gas cost for resources such as call data and storage by dividing the base fee for each unit of resource by the total base fee. The base fee is a fixed-per-block network fee included in the EIP-1559 algorithm.
The second more complex option sets a base fee for using resources but includes burst limits on each resource. There would also be “priority fees” which are set as a percentage and calculated by multiplying the percentage by the base fee.
He stated that the drawback to the multidimensional fee structure is that “block builders would not be able to simply accept transactions in high-to-low order of fee-per-gas.” They would have to balance the dimensions and solve additional mathematical problems.
Related:Ethereum supply flips briefly into deflation as gas fees spike
It remains to be seen
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