- Proposals include limiting memory by gas, and limiting overall storage to 30M.
- The mainnet merging is expected to take place on September 19.
Ethereum co-founder Vitalik Buterin has proposed new scalability options to alter gas pricing as the network looks for short-term solutions to Scalability Concerns. Vitalik Buterin, the creator of Ethereum, has come up with new ideas to improve the efficiency of the Ethereum Virtual Machine’s memory use (EVM).
The co-founder of Ethereum stated:
“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’. 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.”
High Gas Fees and Scalability Huge Concern
There are currently no clear formulas for estimating the maximum memory utilization, and present approaches are inconsistent in how they price memory usage, charging excessive gas rates to extend memory usage even when doing so uses zero extra resources. Proposals include limiting memory by gas, limiting overall storage to 30M, or limiting memory by the square root of gas.
It’s worth mentioning that the network has been hampered by high gas prices and scalability issues as it has grown in popularity. This has led to a number of DeFi projects considering launching on rival Layer 1 blockchains as a result. After the Yuga Labs Otherside Otherdeed mint on the network ran into problems, Yuga Labs suggested that the ApeCoin DAO consider moving to another Layer 1 blockchain early this year.
By a razor-thin margin, the proposition was rejected. If this didn’t happen, the project may have been moved to Avalanche. A key reason for moving to proof-of-stake is Ethereum’s scalability difficulties. As of right now, the mainnet merging is expected to take place on September 19.
Recommended For You:
Huobi Global Bags Provisional Approval From Dubai’s Regulator
