Vitalik Buterin Proposes EIP-7706: A New Approach to Ethereum Gas Fees

The post Vitalik Buterin Proposes EIP-7706: A New Approach to Ethereum Gas Fees appeared first on Coinpedia Fintech News

As per a recent post of Wu blockchain on X, Vitalik Buterin has created a new EIP-7706 Draft that adds a new type of gas for transaction call data. A new transaction type that provides max base fee and priority fee as a vector, giving value for execution gas, blob gas, and calldata gas. The base fee adjustment needs to be modified to use the same mechanism for the three types of gas. This simplifies the base fee adjustment rules and ensures that the stronger mathematical properties of the new EIP- 4844 base fee adjustment algorithm cover all three types of gases.