To be truly acceptable, L2 fees in the Ethereum network must be no higher than $0.05. This view was stated by Ethereum co-founder Vitalik Buterin.
Needs to get under $0.05 to be truly acceptable imo. But we’re definitely making great progress, and even proto-danksharding may be enough to get us there for a while!
— vitalik.eth (@VitalikButerin) May 3, 2022
Buterin reacted to a tweet by Bankless editor Ryan Sean Adams, in which he cited data L2Fees on current fee levels. They allow users to save up to 99.2%.
The cost below $0.05 is offered only by the Metis Network project. Others on the list will incur costs when sending ETH from $0.12 to $0.85 and from $0.71 to $1.19 — when exchanging tokens, while in the Ethereum network a user would have to spend $2.38 and $11.92 respectively.
In Buterin’s view, great progress has been achieved so far. He linked further improvements to the launch of proto-danksharding (EIP-4844), an interim step before moving to sharding.
The solution will enable a new type of transactions carrying large binary objects containing additional data to which the EVM cannot access. Vitalik Buterin became one of the co-authors of this concept.
In 2017, Buterin stated that transactions in the ‘internet of money’ should not cost more than $0.05. In January 2022, he reaffirmed his commitment to this goal, noting efforts to improve scalability.
4. Though I 100% stand by my comment that «the internet of money should not cost more than 5 cents per transaction». That was the goal in 2017, and it’s still the goal now. It’s precisely why we’re spending so much time working on scalability.https://t.co/M326MtrlE0
— vitalik.eth (@VitalikButerin) January 1, 2022
In December 2021, Buterin unveiled Ethereum’s development roadmap. Central to it was the ZK-Rollups technology.
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