Cosmos News /// by ZKV #107
Zero Fees
A little bit of chit-chat
The dydx chain has surpassed $120B in trading volume since its launch in October 2023.Â
Zero Fees
The proposal to set the minimum gas price to zero uosmo as the default configuration for nodes on the Osmosis blockchain platform is under evaluation.Â
This suggestion emerges from observations that the EIP-1559 style mempool filter, introduced in version 20 and fully implemented in the v21 software upgrade, has established a functional fee market. This mechanism has notably enhanced spam resistance and increased transaction fee revenues for the OSMO network. This setup automatically adjusts fees based on network demand, thus managing transaction spam more efficiently.
A significant challenge this proposal addresses is the inconsistency in block times and transaction executions, which have been impacted by the varying minimum gas prices set by validators. Network analytics data indicate that block times decreased from approximately six seconds to around 3.2 seconds, and blocks not adhering to current market-rate gas fees experienced fewer transactions, resulting in delays and subsequent "catch-up" blocks. This lag in transaction processing contributes to a suboptimal user experience due to unpredictable execution times.
By setting the default gas price to zero, the mempool filter would solely govern gas pricing, potentially leading to fuller blocks and faster average transaction speeds. Validators could opt out of this default setting using the --reject-config-defaults flag, allowing flexibility for those preferring to set their minimum gas prices.Â
The proposal to set default gas prices to zero on the Osmosis blockchain has sparked a lively debate within our community. Some advocate for greater transparency and accountability for validators, while others propose imposing fines on validators who consistently propose empty blocks. On the other hand, some suggest removing the opt-out option entirely to enforce greater compliance and dedication from all validators.
Wrap Up
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