Buterin drafted EIP-7706, proposing a new currency data gas type for Ethereum.
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Co-founder Vitalik Buterin proposed new Ethereum improvement proposals. EIP-7706 proposes a new gas category for transaction call data.
Ethereum transactions currently involve two main types of gas: One is for execution, which deals with the computational effort required to process a transaction, and the other is for storage, which is the cost associated with storing the data as a “blob.”
Buterin’s proposal recommends setting up a third type of gas specifically for call data, a segment of an Ethereum transaction that carries the data sent to a smart contract when a function is called.
This latest proposal was introduced just a few days after Buterin, along with co-authors Sam Wilson, Ansgar Dietrichs and Matt Garnett, proposed improving the account abstraction in EIP-7702.
What are the latest offers?
Introducing a dedicated gas type for currency data means that the Ethereum network will allocate a specific cost to the data sent in a transaction, separate from the costs associated with executing contract code or storing the data.
If the proposal is accepted, the network adjusts the price of this data transfer independently of other costs, with the goal of reducing gas fees for data-heavy but less computationally intensive transactions.
Buterin also proposed streamlining the process by managing all three types of gas (execution, blob, and call data) using a system that adjusts fees simultaneously.
According to Buterin, this proposal proposes a new transaction type that provides max_basefee and priority_fee as vectors providing values for execution gas, blob gas, and call data gas.
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