Ethereum co-founder Vitalik Blerin and developer Anders Eloyson introduced EIP-7999, a proposal to streamline the Ethereum transaction fees structure.
Released on Tuesday, the proposal looking In order to establish a single multidimensional fee market, allowing users to specify a single combined -joint maximum fee for many resources.
The proposal, if adopted, will eliminate the need to estimate and manage many fee components when submitting transactions and letting users define an all covering the maximum fee, making the payment for payment for transactions simpler and more predictable.
The proposal is described as a way to “simplify fee management by letting users define a single Max fee in many transaction sources, improving capital efficiency and user experience.”
It is under community analysis and discussion in advance of potential implementation.
Ethereum’s prolonged problem with gas fees
Ethereum gas fees have become a continuous challenge from the rapid growth of the network in 2017, when a flow to decentralized applications (DAPPS) and initial coin offering (ICOs) led to increased congestion and increased transaction costs.
The situation deteriorated during the 2021 Defi Tag -Its and NFT Boom, when the average gas fee often exceeds $ 50 per transaction.
In response, Ethereum implemented the EIP-1559 upgrade in August 2021, which introduced a base burn burn and aimed at stabilizing the fees. Although it helped moderate fee spikes, high congestion periods still resulted in PABAGU -new and sometimes prohibited gas costs.
To further ease the burden, layer 2 scaling solutions such as optimism and arbitrum have gained popularity, processing offchain transactions on lower fees. However, Ethereum Mainnet fees have remained a concern, which motivates ongoing development efforts that end with Dencun upgrading in March 2024.
Dencun’s impact: Gas fees fell as competitors get
The Dencun upgrade, implemented on March 13, 2024, introduced nine Ethereum (EIP) improvement measures to improve scalability and lower transaction costs, especially for layer-2 solutions.
Within a year, the average gas fees for standard transactions dropped by 95%, from about $ 86 to $ 0.39, according to Ethercan data. Ethereum’s native price token fell to 50%, reflecting the broader challenges in the market.
The Ethereum remained the leading blockchain by revenue in the transaction fee in 2024, which earned $ 2.48 billion, a 3% increase over 2023. However, the revenue of the fee was a change of PABAGU -new after Dencun, while competitors had landed.
In the same year, Tron’s fees were more than double to $ 2.15 billion, driven primarily through Stablecoin transactions, and Solana’s fees rose to 2,838% to $ 750 million in the middle of a network activity spike.
According to In data from the token terminal, in the last 365 days, the Ethereum income generated by the fees stands at $ 757.4 million in this writing.
