Gas costs: how to get around them?
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Hey everybody! I'd like to share some interesting proposals I discovered on mStable forum regarding gas cost reductions. Clearly this is a big problem in the space and I'm curious to see how projects will attempt to deal with that. Two proposals from mStable: batching and cache implementation to reduce frequency of interactions with the lending pools .
Any thoughts about these solutions and possible alternative ways?
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The batching proposal is clear for me but I couldn't get my head around the cache. And I assume most of the voters don't either. Everyone votes because it sounds like an improvement.
I'd love to see a visual representation in form of sequence diagram to understand every single step.
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No idea man but something’s gotta give. Since 2020 began gas fees went up 7,000%😱😱😱 As if 2020 wasn’t bad enough already...
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Honestly, I don't think there is a way to truly get away from Gas 100%. Even NEAR has transaction fees, even though they claim to be 10,000x cheaper than Ethereum. There's still a fee.
Moving from L1 to L2 involves Gas, as does coming back to L1 if needed. "Moving" a token from one chain to another also has a Tx fee. It's how the network is paid for and incentivized.
I think the goal across the board is to make them cheaper and more flexible so they can be paid with other tokens, since you can't do away with them entirely.
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Thanks for sharing this, Andy. This is a hot topic for sure and judging by Snapshot it looks like your community is very much up for this option.
What's the timeline for implementation? Or in other words: when will we all see if the cache works?;-)