Ethereum

Rescue

Time

<p>The co-founder of Ethereum, Vitalik Buterin, recently addressed the thorny issue of transaction fees on layers 1 and 2 of the network. In the face of increasing congestion, he proposes innovative approaches to balance costs and maintain the attractiveness of the crypto ecosystem.</p>
<h2 id="h-buterin-vise-une-approche-equilibree-pour-les-frais-l1-l2">Buterin aims for a balanced approach to L1/L2 fees</h2>
<p>The co-founder of Ethereum, Vitalik Buterin, addressed the issue of transaction fees on layers 1 and 2 of the network. As <a href="https://www.cointribune.com/en/crypto-ethereum-is-nearing-its-limits-vitalik-sounds-the-alarm/" target="_blank" rel="noopener noreferrer nofollow">the blockchain nears its technical limits</a>, Buterin outlines paths to maintain a balanced and accessible ecosystem.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Buterin <a href="https://u.today/ethereums-vitalik-buterin-indicates-new-ways-to-solve-l1l2-fees-issues" target="_blank" rel="noopener noreferrer nofollow">highlights the importance of a balanced fee structure between</a> Ethereum’s layers 1 and 2. According to him, it is essential to maintain reliable and non-zero fees at both levels, while ensuring a low variance in the ratio between them. This approach aims to avoid unpredictable fluctuations that could destabilize the ecosystem and ensure an optimal user experience.</p>
<p>The challenge is multidimensional, affecting the economic, technological, and cultural aspects of the network. Buterin emphasizes the need to preserve a sense of unity within the Ethereum community, despite the growing diversity of layer 2 solutions.</p>
<p>This cohesion involves not only technical interoperability but also sharing common values and an aligned economic vision for the entire ecosystem.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://coinbase-consumer.sjv.io/c/2801338/552039/9251" target="_blank" rel="noopener noreferrer nofollow">Discover the Coinbase platform and buy your first cryptos</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-ethereum-des-solutions-concretes-en-perspective">Ethereum, concrete solutions in sight</h2>
<p>To address these challenges, Buterin highlights two promising paths. The first is EIP-7762, a protocol enhancement aimed at making “blob” fees more predictable. Launched at the end of August 2024, this proposal builds on the advances of EIP-4844 to optimize block pricing.</p>
<p>The second path concerns “<em>fee-based rollups</em>“. These innovative Layer 2 solutions would align their economic rules with those of the main network, promoting better integration. Buterin also mentions other fee-sharing models as “interesting starting points” to solve the complex pricing equation.</p>
<p>These reflections come in a context of sharply rising fees on Ethereum. After several months of decline, <a href="https://www.cointribune.com/en/crypto-transaction-fees-are-skyrocketing-on-ethereum/" target="_blank" rel="noopener noreferrer nofollow">transaction costs have tripled in the last 30 days</a>, reaching an average of $2.25 per operation. This situation underscores the urgency of finding sustainable solutions to ensure the long-term accessibility and efficiency of the network.</p>
<p>By proposing these avenues, Vitalik Buterin once again demonstrates his desire to evolve the <a href="https://www.cointribune.com/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum network</a> in the face of the challenges of its massive adoption. Time will tell if these approaches will sustainably solve the fee issue, a crucial challenge for the future of crypto.</p>

Vitalik Buterin Launches A Rescue Plan For The Ethereum Crypto.

Table of Contents

Cointribune EN

Other articles published on Oct 13, 2024

Dogecoin Price Prediction: DOGE Faces Critical Resistance as This Altcoin Rival Strikes for a 700...

Shiba Inu Coin And Cutoshi (CUTO) Market Dominance Grows Expert Analysis On Recent Gains!

Missed Solana’s Success? 5 Cryptos You Should Buy Now for Comparable High Gains

Top Upcoming Tokens to Unlock Today: Pendle, GMX Leads Others

Gold Rush for Everyone: Earn $MST in the MintSwap Mining Program!

'Bitcoin' search volume drops to a yearly low, while 'memecoin' surges

Join our free newsletter for daily crypto updates!