Vitalik Buterin Launches A Rescue Plan For The Ethereum Crypto.

The co-founder of Ethereum, Vitalik Buterin, recently addressed the thorny issue of transaction fees on layers 1 and 2 of the network. In the face of increasing congestion, he proposes innovative approaches to balance costs and maintain the attractiveness of the crypto ecosystem.

Buterin aims for a balanced approach to L1/L2 fees

The co-founder of Ethereum, Vitalik Buterin, addressed the issue of transaction fees on layers 1 and 2 of the network. As the blockchain nears its technical limits, Buterin outlines paths to maintain a balanced and accessible ecosystem.

Buterin highlights the importance of a balanced fee structure between Ethereum’s layers 1 and 2. According to him, it is essential to maintain reliable and non-zero fees at both levels, while ensuring a low variance in the ratio between them. This approach aims to avoid unpredictable fluctuations that could destabilize the ecosystem and ensure an optimal user experience.

The challenge is multidimensional, affecting the economic, technological, and cultural aspects of the network. Buterin emphasizes the need to preserve a sense of unity within the Ethereum community, despite the growing diversity of layer 2 solutions.

This cohesion involves not only technical interoperability but also sharing common values and an aligned economic vision for the entire ecosystem.

Ethereum, concrete solutions in sight

To address these challenges, Buterin highlights two promising paths. The first is EIP-7762, a protocol enhancement aimed at making “blob” fees more predictable. Launched at the end of August 2024, this proposal builds on the advances of EIP-4844 to optimize block pricing.

The second path concerns “fee-based rollups“. These innovative Layer 2 solutions would align their economic rules with those of the main network, promoting better integration. Buterin also mentions other fee-sharing models as “interesting starting points” to solve the complex pricing equation.

These reflections come in a context of sharply rising fees on Ethereum. After several months of decline, transaction costs have tripled in the last 30 days, reaching an average of $2.25 per operation. This situation underscores the urgency of finding sustainable solutions to ensure the long-term accessibility and efficiency of the network.

By proposing these avenues, Vitalik Buterin once again demonstrates his desire to evolve the Ethereum network in the face of the challenges of its massive adoption. Time will tell if these approaches will sustainably solve the fee issue, a crucial challenge for the future of crypto.