Buterin makes new scalability proposals.
Ethereum’s Vitalik Buterin Makes New Scalability Proposals To Adjust Gas Costs As The Network Searches For Short-Term Solutions To Scalability Concerns
Ethereum founder Vitalik Buterin has made new suggestions to solve efficiency concerns with how memory consumption is limited on the Ethereum Virtual Machine (EVM).
Proposals to adjust memory gas costs
EthMag thread for discussion: https://t.co/GcZSsoI4gd
— vitalik.eth (@VitalikButerin) July 23, 2022
“Currently, we limit the memory consumption of the EVM in two ways: a quadratic memory expansion cost and a de-facto call stack depth limit enforced with the EIP-150 ’63/64 rule’,” the Ethereum founder writes in his post. “These mechanisms are reasonably effective at their desired goal, but are both needlessly complicated and inefficient, punishing regular users too much and DoS attackers too little.”
In the post, Buterin notes that the current methods employed are inconsistent in how they price memory usage, unduly charge gas fees to expand memory usage when it takes up no additional resources, and lack a clear formula to estimate the max memory usage.
To this end, the programmer makes three proposals; cap memory by gas, cap total memory to 30m separately from gas, or cap memory by the square root of gas.
It is worth noting that with the increased adoption of the network, it has been plagued with high gas fees and scalability concerns. These issues have caused several DeFi projects to consider launching on competing Layer 1 blockchains. For example, earlier this year, following the issues faced in the Yuga Labs Otherside Otherdeed mint on the network, Yuga Labs proposed that the ApeCoin DAO consider a migration to another Layer 1 blockchain.
The proposal was narrowly voted against. Else, we could have seen the project migrate to Avalanche.
Notably, Ethereum’s scalability issues are one of the major drivers for its migration to proof-of-stake. At the moment, developers tentatively view September 19th as the date for the merge launch on the mainnet.
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Source: https://thecryptobasic.com/2022/07/23/ethereums-vitalik-buterin-makes-new-scalability-proposals-to-adjust-gas-costs/?utm_source=rss&utm_medium=rss&utm_campaign=ethereums-vitalik-buterin-makes-new-scalability-proposals-to-adjust-gas-costs