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Buterin proposed to limit the size of fees in the Ethereum network
Ethereum creator Vitalik Buterin and developer Anders Ehlosson suggested capping the transaction fee on the ETH network.
They proposed to create a "unified multidimensional fee market" to limit the maximum allowable fee for various operations in the blockchain. If the initiative by programmers called EIP-7999 is implemented, there will be no need to calculate multiple components of the fee. Instead, a maximum fee size for any operations will be used, which will simplify the transaction process and make it more predictable.
EIP-7999 will change the process of interaction between smart contracts and the fee market, allowing tokens like Shiba Inu to be integrated into a unified fee system. The maximum fee will cover gas costs and expenses related to the operation of smart contract transactions, commented one of the members of the SHIB army on Buterin's proposal.
It is clear that Vitalik and Anders' proposal aims to control the amount of fees, which significantly increases with the growing load on the blockchain. For example, on July 17, the average fee for processing a transfer reached $2.82, while even in the Bitcoin network, it cost $1.73 to execute a transaction.
Change in the average fee size for transactions on the Ethereum network
High fees for commission hinder the development of the ETH blockchain and reduce its competitiveness. In cryptocurrency networks competing with Ethereum, you have to pay much less. For example, in the Solana blockchain (SOL), the average fee is $0.0036, while in Cardano (ADA) it is $0.12.