Vitalik Buterin, the co-founder of Ethereum (ETH), has recently unveiled a new proposal that introduces a network improvement protocol called EIP-7706. This protocol focuses on a novel gas model specifically designed for transaction call data. Currently, ETH-based transactions have two types of gas fees: one for transaction execution and another for storage.
EIP-7706 aims to introduce a third form of gas exclusively for call data, suggesting that the blockchain will impose a charge on data transferred during transactions. According to the official document, Buterin’s gas model proposal will add a new transaction type that provides max_basefee and priority_fee as a vector. This new type will offer values for execution gas, blob gas, and calldata gas. The proposal also suggests modifying the base rate adjustment mechanism to be consistent across all three types of gas.
The document justifies the proposal by stating that increasing the Ethereum gas limit, reducing the cost of calling data, or expanding the EIP-4844 blob count before technologies like PeerDAS become available face significant opposition. This is due to concerns about the already large theoretical maximum size of an Ethereum block and the potential risks associated with further increasing it.
Additionally, the proposed EIP introduces a new transaction type that encompasses the three types of maximum base fees and priority fees as a vector. This change allows for the same code paths to handle all three types of gas. The base rate adjustment rules will also be simplified and aligned for all three gas types, using the same approach currently employed for run gas and blobs. This ensures that the latest EIP-4844 base rate adjustment algorithm’s strong mathematical properties cover all three gas types.
It is important to note that Vitalik Buterin, along with developers Ansgar Dietrichs, Barnabe Monnot, and Davide Crapis, recently introduced another proposal called “multidimensional gas.” This concept aims to revolutionize how gas fees are calculated on the Ethereum network. Unlike the current one-dimensional gas system, which cannot differentiate between different types of computational resources used in transactions, the multidimensional gas proposal seeks to address this inefficiency.
Please keep in mind that the opinions expressed in this article, whether by the author or individuals mentioned, are solely for informational purposes and should not be considered as financial, investment, or any other form of advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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