Vitalik Buterin On How To Eliminate Ethereum Network Congestion And High Fees

Network congestion on the Ethereum network is a very real and present issue, which has in turn brought about more real and pressing issues. Users of the network, especially small-time investors, have drawn the short end of the stick with these issues as they are the most affected. With fees skyrocketing, carrying out small transactions on the leading smart contracts network is becoming less and less feasible with each passing day. The high fees and congestion have sparked discussions on how it can be eliminated. There are various developments in the pipeline, like the Consensus Layer (formerly known as ETH 2.0) and other suggestions made by developers. This time around, it is atheneum’s founder Vitalik Buterin, proposing a way to deal with the network congestion, and by extension, the high fees, on the network. Blob-Carrying Transactions On Ethereum In a conversation that was posted to popular social media platform Twitter, Vitalik Buterin and developer Tim Beiko put forward proposals that would help address the issue of high network congestion. With the adoption of the network growing at a rate not even anticipated by the creators themselves, it has now become a race to find the best way to properly scale the network. Here is where Buterin proposes a new feature called “blob-carrying transactions.” Related Reading | Solana And Ethereum Recover After Registering Double-Digit Gains This feature would be added to a hard for...