The EIP-7999 initiative by Ethereum specialists seeks to simplify fee structures, allowing users to declare one maximum fee covering all resources instead of managing multiple fees.
The Dencun upgrade on March 13, 2024, significantly lowered gas fees for transactions, decreasing from approximately $86 to $0.39, demonstrating Ethereum’s commitment to reducing costs amid growing competition.
In 2024, Ethereum generated around 2.48 billion USD in transaction fees, maintaining a vital revenue stream despite rising competition, with notable increases in fees for platforms like Tron and Solana.
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