TL; DR
Full story
Last week, Vitalik Buterin (i.e. ‘ETHdaddy’) wrote an article entitled: Multidimensional gas prices
(And no, it’s not about how cheap California gas prices are in different dimensions…)
It proposes a new way to structure Ethereum’s gas fees (also called transaction fees).
The premise is this:
Multidimensional gas on Ethereum would distinguish between different categories of effort required to complete different types of transactions.
For example, different gas fees may be charged for transactions involving Ethereum NFTs, compared to crypto transactions for ETH.
Some people on Twitter have said that this sounds eerily similar to Solana’s ‘local cost markets’ solution, where gas rates are charged on a per-account, project-by-project basis – meaning that if there is a huge demand for a particular NFT, gas rates will only increase for those they want to buy that NFT, not all transactions on the blockchain.
But here’s our opinion in a nutshell:
Learning from other blockchain projects, taking the good parts and leaving the bad out, is a winning formula.
(Web2 companies literally do it all the time!)
As long as innovation continues, we will accept it.
Happy Monday!