Developers introduced an Ethereum Improvement Proposal aimed at simplifying the transaction fee structure on the blockchain network by introducing a single aggregated rate.
Vitalik Buterin, Ethereum Co-Founder, and Anders Elowsson, Core Developer, published EIP-7999, which envisions creating a unified multidimensional fee market.
According to the technical documentation, users will be able to specify a single maximum fee for all transaction components, eliminating the need to calculate each cost element separately. This new mechanism is designed to make transaction fees more predictable and improve capital efficiency.
EIP-7999 is based on dynamic base gas price adjustments, which would change the cost per block depending on network load. Thus, the base fee for blocks exceeding the target limit will increase, while it will decrease under low load. At the same time, block base fee changes will be capped at a maximum of 12.5%.
Currently, EIP-7999 is under discussion. For details on how decisions to improve the Ethereum blockchain are made, see CP Media’s article .
The issue of high fees is relevant for Ethereum since 2017, when the growth of dApps caused network congestion. In 2021, the DeFi boom and NFT craze sharply increased the average fee, often exceeding $50. In August 2021, EIP-1559 was implemented, stabilizing fees, but it didn’t fully solve the problem. In March 2024, the Dencun hard fork reduced fees for Layer 2 solutions, cutting the average transaction fee by 95% to $0.39.
Recently, Ethereum developers unveiled a roadmap for the blockchain’s development over the next decade, and Vitalik Buterin proposed radically simplifying the core layer architecture by 2030.
