Vitalik Buterin Proposes Important Changes for ETH: What Will Happen If They Are Accepted?

Vitalik Buterin is attracting attention with a radical proposal to reform the fee system of the network. Buterin wants to introduce a new system that he calls the "multi-dimensional fee model" to address the limitations in the current fee structure of Ethereum and to enhance the long-term scalability of the network. In his proposal, co-authored with researcher Anders Elowsson, Buterin suggests implementing a unique maximum fee cap of (max_fee) across all resources, instead of requiring users to set individual fee limits for each network resource, such as computing, storage, and data resources, when sending transactions. This structure would allow for dynamic fee allocation, enabling more efficient resource utilization. Network traffic on the Ethereum blockchain has decreased recently, and gas fees have been below 1 Gwei for an extended period. This low-demand environment further highlights the shortcomings of the current fee structure. The new system proposed by Buterin promises a sustainable and stable fee architecture that can respond more flexibly to these fluctuations. The main components of the new model include: Unique fee update mechanism A comprehensive reference pricing method Includes a gas compensation system to ensure cost stability. Currently, the Ethereum network handles general transactions (EIP-1559) and blob data transactions (EIP-4844) through separate systems. Buterin's proposal aims to integrate these two systems into a multi-dimensional fee model, providing a consistent approach in an environment where resource usage is becoming increasingly diverse. The first phase of the new system will start with the calldata component, significantly affecting the transaction throughput. It will then be expanded to other resources in the Ethereum Virtual Machine (EVM). The proposed model will be gradually implemented, ensuring backward compatibility to avoid disrupting the current user experience.