Ethereum Devs Assess Reducing Data Transfer Cost 5x, EIP-4488 Becomes Possibl...
The second leading crypto asset ethereum has been dealing with high fees since the end of June and today the average ethereum transaction fee is between $5 and $34 per transfer. While there’s been a lot of complaints about ether gas costs this year, Ethereum founder Vitalik Buterin has recommended an Ethereum Improvement Proposal (EIP) that aims to decrease transaction costs by five times. Ethereum developer Tim Beiko discussed the idea as well, and talked about possible “challenges” both long and short term. Moving Ether, Transferring an ERC20, and Swapping....
Related News
Buterin issued a decrease-cost-and-cap proposal, which aims to achieve most of the benefits of the decrease Ethereum (ETH) co-founder Vitalik Buterin has proposed a new limit on the total transaction calldata in a block to decrease the overall transaction calldata gas cost over the ETH network. Buterin’s post on the Ethereum Magicians forum, EIP-4488, highlights concerns regarding high transaction fees on Layer-1 blockchains for rollups and the considerable amount of time to implement and deploy data sharding:“Hence, a short-term solution to further cut costs for rollups, and to....
Traditional enterprise storage is dying. It’s becoming less and less viable for companies to create and maintain traditional data centers that have a fixed cost of operation, despite varying amounts of storage actually being used. Add on the fact that these data centers need proprietary systems to protect, backup and maintain assets, and it’s easy to see....
With just over two weeks until The Merge, Ethereum network fees have reduced significantly as the average ethereum transfer fee has dropped to 0.00092 ether or $1.37 per transaction on August 28. Median-sized fees have slid to 0.00036 ether or $0.544 per transfer, and etherscan.io’s gas tracking tool notes a priority fee will cost 11 gwei or $0.34 to get a transaction confirmed in roughly 30 seconds.
Ethereum’s Onchain Transfer Cost Remains Low, L2 Transfer and Swap Fees Are Still Cheaper
On August 16, the Ethereum Foundation updated a previously published blog....
According to an announcement from Ripple’s core development team Ripplex, developers have introduced the first step toward Ethereum Virtual Machine (EVM) compatibility with the XRP-based sidechain XRPL. The XRPL is now live on Devnet and developers can “assess available technologies,” alongside deploying “existing Solidity apps on the EVM sidechain.”
Ripple Core Developers and Peersyst Reveal First Phase of the EVM Sidechain XRPL
On Monday, October 17, Ripplex announced the introduction of the XRP-based and EVM-compatible side chain XRPL.....
Purse.io CTO Chris Jeffery has stated Ethereum “is not learning from history” while ignoring the threats to its stability that Bitcoin solved many years ago. Learning From Bitcoin’s Mistakes. In a blog post, the developer requested Ethereum’s developers to “learn from the mistakes, just like bitcoin did.” The post was made in the wake of the DAO hack, in....