• Vitalik Buterin’s EIP-7706 proposes a new gas class for calldata, refining Ethereum’s fee structure.
• The proposal targets transaction costs by introducing specific fees for data transmission, separate from execution and storage.
• Approval will see a reduction in fees for data-heavy transactions.

Ethereum co-founder Vitalik Buterin has submitted a new Ethereum Improvement Proposal (EIP), dubbed EIP-7706, to manage transaction costs within its network. Buterin noted that the proposal will introduce another gas class for transaction call data.

Recall that two primary types of gas govern Ethereum transactions. The first oversees execution, which includes computational tasks during transaction processing. Meanwhile, the second gas handles storage, accounting for the costs of storing data in “blobs.” However, Buterin’s recent suggestion seeks to add a third gas category, mainly targeting calldata. 

In Ethereum, calldata refers to the segment that carries data sent to smart contracts when transactions are executed. By introducing a dedicated gas type for calldata, the Ethereum network would assign specific costs to the data transmitted in transactions. These costs…

The post Vitalik Buterin Introduces EIP-7706, Proposing New Calldata Gas for Ethereum appeared first on Coin Edition.

• Vitalik Buterin’s EIP-7706 proposes a new gas class for calldata, refining Ethereum’s fee structure.
• The proposal targets transaction costs by introducing specific fees for data transmission, separate from execution and storage.
• Approval will see a reduction in fees for data-heavy transactions.

Ethereum co-founder Vitalik Buterin has submitted a new Ethereum Improvement Proposal (EIP), dubbed EIP-7706, to manage transaction costs within its network. Buterin noted that the proposal will introduce another gas class for transaction call data.

Recall that two primary types of gas govern Ethereum transactions. The first oversees execution, which includes computational tasks during transaction processing. Meanwhile, the second gas handles storage, accounting for the costs of storing data in “blobs.” However, Buterin’s recent suggestion seeks to add a third gas category, mainly targeting calldata. 

In Ethereum, calldata refers to the segment that carries data sent to smart contracts when transactions are executed. By introducing a dedicated gas type for calldata, the Ethereum network would assign specific costs to the data transmitted in transactions. These costs…

The post Vitalik Buterin Introduces EIP-7706, Proposing New Calldata Gas for Ethereum appeared first on Coin Edition.