Hello HODLers!
Brief update on the Ethereum Gas Fees topic.
Everybody knows that the Ethereum team is looking for the best Ethereum Improvement Proposal to put an end to the problem of high gas price without excessively damaging the returns of miners.
In recent days we talked about the Ethereum Proposal 1558, which should take place in July and would lead to a significant reduction in gas fees, but the miners strongly opposed it, even threatening strikes.
As we learn from Cointelegraph.com, the next upgrade that will be implemented on the Ethereum blockchain is the Berlin Upgrade, which will take place on April 14th. This upgrade includes 4 Ethereum Improvement Proposals:
EIP-2565: it seeks to reduce the cost of the ModExp precompile, which will help with calculating the gas cost;
EIP-2929: a proposal that will “increase” certain gas costs;
EIP-2718: it introduces a new transaction module;
EIP-2930: it includes a transaction type with optional access lists.
The problem is that the Berlin upgrade is not sufficient to obtain a substantial lowering of the cost of transactions on Ethereum, as reiterated by Maxim Blagov, CEO of Enjin, and by Winston, a moderator for yield farming aggregator Harvest Finance.
The upcoming Berlin update may help in reducing gas fees temporarily but deep structural changes will need to be made in order to lower the Ethereum Gas Fees.
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