Vitalik Buterin Advocates for Major Gas Fee Cuts to Boost Ethereum TPS by 1.5 Times

On October 24, in a significant social media announcement, Vitalik Buterin, co-founder of Ethereum, proposed a targeted approach to address high Gas fees. His recommendations advocate for substantial yet selective decreases in transaction costs. Specifically, Buterin suggests reducing the gas fees for EVM opcodes currently priced between 2-5 to just 1, while those in the range of 6-10 should drop to 2. Furthermore, he highlights a fourfold reduction in the gas costs associated with log operations and emphasizes that modifications to precompiled contracts should be carefully considered, with exceptions for those identified for deprecation. Implementing these changes could potentially enhance transactions per second (TPS) by 1.5 times, all while maintaining crucial operational metrics like calldata size and input/output (IO) efficiency.