Making Ethereum’s rewards efficient
The first component of the proposal or base rate (BASEFEE) will be adjusted according to the level of congestion in the Ethereum network. To achieve this, it is proposed to increase the gas capacity supported by the network by 50%. Therefore, Ethereum’s network would increase from the current limit of 8 million gas to 16 million. In addition, the adjustment will make the fluctuation of base rates predictable and allow users’ wallets to automatically modify rates without the need for manual manipulation. Miners will receive a 0.5 gwei tip.The miners will keep this tip which is the second component of the proposal or premium rate.
The system works according to the demand for block space and the urgency of the user making the transaction. Users adjust the rate in relation to the time they want the transaction to be approved with bids (gas prices). Miners choose the transactions with the highest bids and receive the specified reward. In other words, for a transaction to be approved quickly, the user must set a rate that is attractive to miners in the network.
Buterin and Conner’s proposal is to divide the transaction fees into two components, a basic fee and a premium fee. The proposal seeks to eliminate sources of inefficiency in Ethereum’s economy: avoid unnecessary delays for users, avoid the mismatch between the volatility of transaction fees and increase the stability of Ethereum’s blockchain.
作者 : Reynaldo