One of the biggest problems with Ethereum (ETH), the second largest cryptocurrency by total market capitalization, is known to be transaction fees. Although the Ethereum blockchain network sometimes gives individual investors a difficult time due to high transaction fees and high usage, this situation has actually turned in the network’s favor with the EIP-1559 update. Now, however, you are about to take a step to avoid overpayments in transaction fees.
Change in Ethereum transaction fees
arrived last month EIP-1559 Then a new idea emerged that would change the transaction fee model. EIP-1559 was developed to prevent people from paying higher than normal transaction fees and to ensure that any additional payments made are returned as burned ETH. However, the trend of NFT and the popularity of DeFi projects do not always prevent this.
Infura, a cloud-based network of nodes, is used by many projects that want to connect to the Ethereum blockchain network. Infura believes that its innovation called Infura Transactions can prevent these overpayments. This is claimed to use an algorithm to optimize gas rates and will automatically adjust rates in real time. In addition, in this way, transactions that will not be selected by the miners are prevented, and it is warned that they lift it when the user does not enter the corresponding transaction fee. Finally, it is emphasized that this will allow the payment of transaction fees without ETH.
With this project, Infura wants to make it easier for developers to work on the Ethereum network, and it could definitely be a game changer for ETH.
Even if only the topic of this project has come to the fore, we can hear this much more in the coming days and see the price increase for this reason.