What impact does Ethereum 2.0 have on Gas fees

The positive impact of Ethereum 2.0 on Gas fees is reflected in: 1) Changing the consensus mechanism and changing from PoW to PoS, reducing mining costs and dependence on high handling fees; 2) Introducing sharding technology, improving network throughput and alleviating network congestion, and the overall handling fees have decreased accordingly.

Ethereum 2.0 has a number of positive impacts on Gas fees, mainly reflected in the following aspects:

• Change the consensus mechanism : Ethereum 2.0 transforms from Proof of Work (PoW) to Proof of Stake (PoS). In the PoW mechanism, miners need to consume a lot of resources to compete for block yield rights, and will compensate for the cost by charging high handling fees. Under the PoS mechanism, validators create and verify blocks based on the number and duration of tokens they hold, which reduces mining costs and network burdens, reduces competition among miners, and their dependence on high fees is also reduced, and they are willing to process transactions at lower fees.
• Introducing sharding technology : Ethereum 2.0 divides the network into multiple shard chains through sharding technology. These shard chains can process transactions in parallel, greatly improving the network throughput, and processing more transactions at the same time, effectively alleviating network congestion. When the network is no longer congested, the basic fees will be reduced. Even if the high miner tip is not paid, the transaction can be processed faster, and the overall handling fee will be reduced accordingly.

According to market data, after the upgrade of Ethereum 2.0, the median Gas fee has remained stable in the 3-5Gwei range, down 72% from its peak in 2024.

The above is the detailed content of What impact does Ethereum 2.0 have on Gas fees. For more information, please follow other related articles on the PHP Chinese website!