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Ethereum Developers Discuss Network Upgrade Proposals To Address Climbing Gas Fees
Summary: Ethereum Core Developers hosted a phone call on Friday, September 4 to discuss network upgrade proposals as transaction fees have continued to climb to new heights, as reported by Cointelegraph. Independent Ethereum researcher Alexey Akhunov commented on the existence of gas tokens which allow network users to store gas when prices are low and use them ...
Ethereum Core Developers hosted a phone call on Friday, September 4 to discuss network upgrade proposals as transaction fees have continued to climb to new heights, as reported by Cointelegraph.
Independent Ethereum researcher Alexey Akhunov commented on the existence of gas tokens which allow network users to store gas when prices are low and use them when prices jump. He argued that these tokens could push prices higher than usual.
He added that the mempool is filled with transactions bidding a certain price to mint new tokens. Because gas bidding orders cannot easily be cancelled leaving prices to remain artificially high.
Another point of discussion was a proposal supported by Ethereum co-founder Vitalik Buterin which would increase gas prices for certain storage operations on the network.
While many proposals were discussed the implementation of any of them is likely a long way off leaving the Ethereum gas market to continue operating as usual.
By Emily Mason
Tags: Ethereum,Ethereum Core Developers,Gas Fees
Link: Ethereum Developers Discuss Network Upgrade Proposals To Address Climbing Gas Fees [Copy]
