Ethereum co-founder Vitalik Buterin has released EIP-7706, introducing a new type of gas for certain transactions.
The primary vectors are the functions max_basefee and Priority_fee, which calculate gas costs for execution operations, calldata, and BLOB.
To implement these changes, amendments to EIP-1559 are necessary to apply the same calculation mechanism across all three transaction types.
Buterin has previously discussed a similar concept, proposing a “multidimensional” gas pricing model. His aim was to categorize various Ethereum operations into different types to conserve blockchain resources.
On May 8, the programmer introduced another proposal — EIP-7702. This allows regular Ethereum wallets to temporarily switch to smart contract mode for a single transaction, simplifying the implementation of account abstraction.
ZeroDev CEO Derek Chiang noted that the developer wrote the document in just 22 minutes.
What’s funny is that Vitalik wrote EIP-7702 in 22 minutes… 90 minutes before the EF meeting that was supposed to debate 3074 ? pic.twitter.com/NzQLEJ1ogj
— Derek Chiang (@decentrek) May 8, 2024
According to him, the Ethereum Foundation meeting to discuss EIP-3074 began an hour and a half after the publication.
In March, Buterin described the next five years as “crucial” for Ethereum’s mass adoption and acceptance in the “real world.”
Earlier in April, the developer discussed the advantages of Binius, a new zero-knowledge proof system.