BasEx | Ethereum Developers Propose Cost-Reduction Measures
Ethereum Developers Propose Measures to Reduce the Cost of Smart Account Transactions
15.01.2023
Ethereum Developers Propose Measures to Reduce the Cost of Smart Account Transactions

The Ethereum Foundation team proposed updates to the ERC-4337 specification aimed at reducing the gas cost for smart account transactions.

The standard, introduced in March 2023, brought the concept of account abstraction to Ethereum. Stackup founder and CEO John Rysing reported that the proposed updates are based on nine months of experience using this solution.

The ERC-4337 v0.7 release is not yet final, and additional revisions may be made following an audit by OpenZeppelin. The main change concerns the structure of smart account transactions, which now require specifying five different gas limit values.

Rysing explained that the goal of these changes is to improve gas estimation accuracy and reduce costs, especially at the second layer, where the volume of data needed to be published will decrease.

Additionally, the introduction of a 10% penalty for unused gas aims to prevent the placement of transactions with unjustifiably high gas limits.

ERC-4337 v0.7 is expected to be presented at the ETH Denver conference from February 23 to March 3, similar to the debut of the standard's first version last year.

The head of Stackup emphasized that the current version of the specification (v0.6) will be supported by all Ethereum infrastructure providers until the full implementation of the new changes, a process that could take up to six months.

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