Vitalik Buterin COST Ethereum BLOCK fees Vitalik Buterin

Vitalik Buterin Proposes New EIP to Tackle Ethereum’s Sky-High Gas Fees

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Ethereum (ETH) co-founder Vitalik Buterin has put forward a new Ethereum Improvement Proposal (EIP) that aims to tackle the network's gas fee problems by adding a limit on the total transaction calldata, which would, in turn, should reduce transaction gas cost.Since Ethereum can only process 15 transactions per second, gas fees tend to spike at times of network congestion.

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