In one post Buterin recently presented two options for implementing the so-called “Multi-Way EIP-1559” on the blog. In it, he discussed Ethereum gas tariff markets with various resources, specifically referring to the use of Ethereum Virtual Machine (EVM), data locking, data witnessing and state size filling.

Now, according to Buterin, these resources are packaged in a “single multidimensional resource”.

According to the founder of Ethereum, the problem is that the current system does not effectively process the limit difference for various resources in the EVM, as transaction data plus calldata transaction only consume 3% of the amount of gas in a block. He added that some blocks can store 67 times more data than an average block.

Buterin mentioned two limits in EVM as a solution to the problem: burst power and continuous power. While Buterin describes burst capacity as performance that can be processed in “just one or a few blocks”, sustainable performance is one that can be comfortably supported over long periods of time.

With the multidimensional EIP-1559, Buterin proposed the introduction of “boom limit” and “sustain target”, in which the number of resources in a certain block would not exceed the burst limit maintenance target or, as a result, separate targeting EIPs -1559 targeting schemes to be used separately for each resource.

EIP-1559 reusable

EIP-1559 is one of the major updates to Ethereum in recent years. Launched in August as part of the London hard fork, it introduced a base fee on Ethereum transactions to make gas charges on the network more predictable (previously it used a bidding system). It is crucial that the basic fee is also burned, which makes the offer of ETH more scarce. After consolidating into proof-of-stake (POS), ETH could become a deflationary asset due to EIP-1559.

Buterin presented two options for introducing the multidimensional EIP-1559. With the first option, the gas prices for resources such as Calldata and storage usage are calculated by dividing the basic fee by a resource unit by the basic fee. The more difficult alternative would be to set a basic fee for the use of the resource at a price of, for example, 1 Gwei. In contrast to the first option, in this case there is no gas block limit, but a burst-per-resource limit. The priority fees will also vary as they are percentage, with block producers receiving a priority fee equal to the base fee multiplied by the stated percentage.

The Ethereum founder received mixed reactions to this proposal. “I think this would be a reasonable suggestion, although I can imagine it will be an important engineering task,” commented Oisin Kyne, Obel Network engineer. Karl Floesch of Optimism expressed concern about the “backward compatibility of the EVM” and thought the first option was more realistic, leading Buterin to agree that it was “a less risky change”.

In any case, it is unlikely that the change will be implemented on Ethereum anytime soon. The network is currently preparing the transition to PoS, which will be the most significant update to date. The Kintsugi testnet is expected to take place in the first half of this year and is now live. Then there will be sharding, so it may take some time to make further EIP-1559 adjustments.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page