Ethereum 
$2,522In the face of strong competition from Solana, Vitalik Buterin, one of the founders of , has proposed a new gas fee regulation aimed at improving transaction efficiency on the Ethereum network. According to Buterin’s plan, this regulation will increase Ethereum’s transactions per second (TPS) by approximately 1.5 times.
Vitalik Buterin’s Gas Fee Regulation
Buterin predicts a significant decrease in gas costs for Ethereum Virtual Machine (EVM) transactions. Specifically, he suggested reducing the gas costs of opcodes in the range 2-5 to 1, and those in the range 6-10 to 2. He also brought forward a four-fold reduction in gas costs of log transactions. Gas costs for pre-compiled contracts will also be reduced, except for those planned for retirement. These steps will increase transaction throughput without degrading network performance.
Buterin says: “I recommend deep but selective cuts. “We can achieve 1.5x transaction capacity by reducing gas costs for certain opcodes and log operations.”
The Verge Upgrade and Effects
Buterin also talked about Ethereum’s upcoming upgrade called “The Verge.” This upgrade will reduce the hardware requirements needed to run nodes and allow more devices, even smartphones and watches, to be able to access the Ethereum network.
Solana blockchain surpassing Ethereum in gas fee revenues was a remarkable development in the industry. The recent AI meme coin craze on the Solana network is seen as one of the reasons for this increase. Ethereum aims to increase its competitiveness with these innovations.
With The Verge upgrade, verification processes on Ethereum will become more efficient. Thus, mobile wallets or small devices will be able to make transactions without having to fully verify the blockchain. This will encourage more people to participate in Ethereum by making the network easier to use.
Vitalik Buterin’s gas fee regulations and the upcoming The Verge upgrade aim to increase Ethereum’s transaction capacity and remain competitive. These moves by Ethereum will improve the user experience while increasing the efficiency of the network.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
