genesis:
Since block space on Ethereum and L2s is limited, there needs to be a fee mechanism in order to avoid state bloat that gives a fixed gas price to each operation executed by the respective VM. link
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space on the blockchain that can be used to store information and run code
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sometimes thought of as a commodity like oil, it might not be easy to financialize analogously
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different characteristics based on the chain
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non-fungibility might limit the creation of a true blockspace market
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limited blockspace available - 15mil gas per block
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limitation arises cuz of the need to ensure that blocks can be propagated and validated by the nodes within a reasonable time frame
Gas fees and block space are closely related in the context of the Ethereum network. Gas fees determine the priority of transactions and smart contracts to be included in a block, and the block space refers to the limited capacity available in each block for including transactions and smart contracts.
- Gas fees on Ethereum increase with the size of smart contracts.
- Gas fees are related to block space on Ethereum.
- Scaling solutions address block space limitations and high gas fees.
- Gas fees apply to transactions and contract interactions on Ethereum.
- Bigger contracts may require more block space and higher gas fees.