Vitalik will cut costs

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Vitalik Buterin, the founder of Ethereum (ETH), proposed to the community to reduce gas storage costs.

Vitalik demonstrates critical thinking

According to Vitalik Buterin, the memory loading mechanisms currently used to limit resource consumption by the Ethereum Virtual Machine (EVM) are effective. However, he considers them too complex and inefficient. Vitalik attributes several significant shortcomings to them, including:

  • There is no exact formula for determining the theoretical maximum memory consumption allocated to each object.
  • Inconsistent management of memory prices
  • Payments for storage expansion, while their use does not require additional resources
  • Poor optimization of the maximum memory that legitimate applications can use compared to the memory of cybercriminals.

In effect, they will severely punish network users and those who are not guilty enough of denial-of-service attacks. All the reasons Vitalik wants the established system to be overhauled. To this end, he has put forward proposals for alternative models that might be better suited to the task at hand.

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Suggested solutions to improve Ethereum fees

The first method is to limit the total memory consumption of all request frames by gas size equivalency. So a transaction with gas in X bytes gets X bytes of memory. Also, there is no longer a fee for memory expansion on Ethereum.

The second tip is to limit the maximum memory size to 30 million bytes regardless of gas. This means that each transaction has 30 million bytes to complete. However, this approach poses a significant security risk because hackers also have access to the same amount of resources.

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The third option aims to limit the theoretical maximum storage as a function of gas. The new equation looks like this: total bytes

At the moment, the reaction of the community is not very pronounced. However, according to Twitter scores, the news appears to be well received by many.

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