{"id":3528,"date":"2019-03-09T15:03:20","date_gmt":"2019-03-09T15:03:20","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=3528"},"modified":"2019-03-09T15:04:04","modified_gmt":"2019-03-09T15:04:04","slug":"ethereum-creator-vitalik-buterin-proposes-wallet-fee-to-fund-developers","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/ethereum-creator-vitalik-buterin-proposes-wallet-fee-to-fund-developers\/","title":{"rendered":"Ethereum Creator Vitalik Buterin Proposes Wallet Fee to Fund Developers"},"content":{"rendered":"\n
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Vitalik Buterin, the creator of the ethereum blockchain project, has proposed increasing user fees on the network for the purposes of supporting developers with sustainable funding.<\/p>\n\n\n\n

\u201cI propose we consider supporting a community norm that client [and] wallet [developers] can [and] should charge a 1 gwei\/gas fee for [transactions] sent through their wallet,\u201d tweeted<\/a> Buterin Friday.<\/p>\n\n\n\n

Gas fees denominated in gwei are payments made by the user to compensate for the computational energy required to process and validate transactions on the ethereum blockchain.<\/p>\n\n\n\n

Suggesting that a flat, \u201cone-off\u201d payment of 1 gwei ($0.01 is about 73,000 gwei<\/a>) for transactions sent to ethereum wallets could collectively raise up to $2 million in a year, Buterin wrote:<\/p>\n\n\n\n

\u201cAt the cost of only increasing average user gas costs by [roughly] 7 percent, it would raise up to [$2 million per year] in sustainable, non-institutionally biased, market-based funding for client\/wallet developers. For reference, that would cover all [Ethereum Foundation] grants to date \u2026 with room to spare.\u201d<\/p>\n\n\n\n

Bitcoin Profit Secrets<\/h1>\n\n\n\n

The Complete Guide To Mastering And Profiting From Bitcoin<\/strong>
<\/p>\n\n\n\n

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Stressing that he wanted to encourage this fee as a norm \u2013 not a mandate \u2013 in the ethereum ecosystem, Buterin explained there\u2019s already a high degree of trust between users and their ethereum wallets given that \u201ca bad [wallet] could steal all your money.\u201d<\/p>\n\n\n\n

Community responses thus far to Buterin\u2019s proposal have been mixed, with one user pointing out that bitcoin wallet MultiBit had tried and failed to implement such a fee.<\/p>\n\n\n\n

\u201cUsers were not willing to pay for something that was previously free. No one would upgrade,\u201d tweeted<\/a>Ken Hodler. \u201cEventually, the fee was removed. Without a good way to pay for support and engineering, development on the wallet stopped.\u201d<\/p>\n\n\n\n

Still, Buterin tells CoinDesk that, in general, the community feedback to his proposal \u201chas been very encouraging\u201d and hopes to see it included in ethereum wallets soon.<\/p>\n\n\n\n

\u201cI came up with the proposal after talking with economists at the Economics and Computation conference at Cornell last year \u2026 I\u2019m hoping the proposal can be included soon,\u201d said Buterin.<\/p>\n\n\n\n

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Vitalik Buterin, the creator of the ethereum blockchain project, has proposed increasing user fees on the network for the purposes of supporting developers with sustainable funding. \u201cI propose we consider supporting a community norm that client [and] wallet [developers] can [and] should charge a 1 gwei\/gas fee for [transactions] sent through their wallet,\u201d tweeted Buterin Friday. Gas fees …<\/p>\n","protected":false},"author":1,"featured_media":3529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pgc_meta":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[16],"tags":[],"aioseo_notices":[],"yoast_head":"\nEthereum Creator Vitalik Buterin Proposes Wallet Fee to Fund Developers - AtoZcrypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/atozcrypto.org\/ethereum-creator-vitalik-buterin-proposes-wallet-fee-to-fund-developers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Creator Vitalik Buterin Proposes Wallet Fee to Fund Developers - AtoZcrypto\" \/>\n<meta property=\"og:description\" content=\"Vitalik Buterin, the creator of the ethereum blockchain project, has proposed increasing user fees on the network for the purposes of supporting developers with sustainable funding. \u201cI propose we consider supporting a community norm that client [and] wallet [developers] can [and] should charge a 1 gwei\/gas fee for [transactions] sent through their wallet,\u201d tweeted Buterin Friday. 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