• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Vitalik Buterin notes that cryptocurrencies increase the amount of commissions for transactions

Vitalik Buterin notes that cryptocurrencies increase the amount of commissions for transactions

user avatar

by Max Nevskyi

2 years ago


According to former Ethereum advisor Steven Nerayoff, increased usage of the Ethereum network inevitably leads to increased fees.

This expert argues that it is not ordinary users who ultimately benefit from the increase in commissions, but rather large participants, especially if control over ownership and mining is concentrated, as is the case in the Ethereum network.

Referring to part of the official Ethereum document, Nerayoff notes that according to the legal opinion of the Ethereum ICO, the standard cost of gas usually ranges from $0.01 to $0.02. By comparing this figure with current commissions, users can conclude who actually benefits from increased gas costs in the blockchain.

Some cryptocurrency users share his concerns and suspect that the Ethereum network could become the object of manipulation by "masked whales". Earlier, one of the co-founders of Ethereum, Vitalik Buterin, confirmed that certain participants in the network can influence the functionality of the protocol with the help of commissions.

In the new video, Vitalik Buterin emphasizes that in addition to shutting down Ethereum users, one should be careful about the possibility of seizing control over the management of the network. By capture, he understands a situation in which a small group of people acquires sufficient influence in decision-making to implement their own concept of work, different from the vision of the community.

Buterin describes the actions of such participants as a type of 51% attack, in which they can restrict transactions, except for those accompanied by high fees. As a result, the blockchain continues to function, but users are forced to pay high fees, which benefits those who censor transactions.

While the prospect of switching from the Proof-of-Work consensus algorithm to Proof-of-Stake was previously discussed in order to solve the problems of centralization among miners and validators, as well as increase network scalability and reduce commissions, so far none of these planned changes have been implemented, and this arouses interest in the further development of the blockchain Ethereum.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Mixed Performance in Bitcoin Spot ETFs Amid Ongoing Market Challenges

chest

Mixed performance in Bitcoin Spot ETFs as some funds attract inflows while others face outflows amid market challenges.

user avatarEmily Carter

US Bitcoin Spot ETFs Experience Major Capital Flight Amid Price Struggles

chest

US Bitcoin Spot ETFs experienced significant capital flight with net outflows of $35.991 million in the second week of February, reflecting cautious sentiment among institutional investors amid price struggles.

user avatarTomas Novak

Key Price Levels for Solana Highlighted by Market Analyst

chest

Market analyst Ali Martinez identifies key price levels for Solana, suggesting a potential support area.

user avatarKaterina Papadopoulou

Negative Funding Rates Indicate Bearish Sentiment for Solana

chest

Negative funding rates for Solana indicate bearish sentiment among traders, who have been positioned for price declines for 17 consecutive days.

user avatarLeo van der Veen

Solana Faces Significant Price Decline Amid Bear Market

chest

Solana has experienced a price loss of 3738 in the last 30 days, reflecting ongoing bearish sentiment in the market.

user avatarMaya Lundqvist

XRP Australia 2026 Event to Foster Blockchain Innovation

chest

The XRP Australia 2026 event aims to bring builders together for a 24-hour sprint focused on developing real-world applications on the XRPL.

user avatarLi Weicheng

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.