Vitalik Buterin proposes an update to the Ethereum Gas model

Ethereum founder Vitalik Buterin proposed a new Ethereum Improvement Protocol (EIP) 7706 focused on a new gas model for transaction call data.

Ethereum-based transactions currently have two types of gas fees: one for transaction execution, which covers the computational effort required to execute a transaction, and one for storage, which is the cost of storing data in “blobs”.

Buterin's (EIP) 7706 will provide third-party gas for call-only information, which contains key data to be transmitted to smart contracts for Ethereum transactions.

This means that the Ethereum blockchain allocates a special fee for data transferred during transactions, which is separate from the cost of executing contract code or storing data.

The new gas model adds a transaction type that provides max_basefee and priority_fee as vectors, providing values ​​for kill gas, blob gas, and call data gas.

Currently, base payment processing uses separate mechanisms for transaction execution costs and data storage in the form of blobs.

However, in the introduction of the third type of gas payment, Buterin suggested that the Ethereum network should adopt a common approach for all three gas payments.

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The move aims to reduce transaction costs associated with data-intensive but not necessarily computationally intensive transactions. If the proposal is accepted, the Ethereum network will be responsible for setting up call data costs independent of other costs.

Buterin recommends managing all three types of gas in a dynamic model that adjusts the charges at the same time.

Buterin, by implementing a separate gas charge for call data, “block peak call data will be significantly reduced, but basic economic analysis shows that on average call data will be much cheaper.”

The Ethereum network has struggled with gas payment issues for years, and the main motivation for moving from Proof-of-Work mining to Proof-of-Stake (PoS) was that it was more scalable and cost-effective.

However, such critical changes have not improved the network's expansion as promised. So these EIPs come as a timely help to the network.

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