Polygon zkEVM Launches Custom Endpoints for DApps to Tackle High Estimated Gas Fees Challenges
In Brief
In a significant move, Polygon zkEVM has rolled out a new custom endpoint designed to tackle the issue of estimated gas fees that often surpass the actual fees incurred.
This Layer 2 scaling solution, developed by Polygon Labs, provides a fresh custom endpoint aimed at resolving the discrepancies between estimated and actual gas fees. Polygon zkEVM Beyond the typical endpoint 'eth_estimateGas' that gives users an idea of gas usage based on the current state of the network, Polygon zkEVM has unveiled two innovative custom endpoints.
The 'zkevm_estimateGasPrice' delivers nearly exact gas pricing tailored to the type of transaction and the calldata utilized, reflecting the network's current state, while 'zkevm_estimateFee' estimates the transaction costs based on the calculated gas price and network status.
According to Polygon zkEVM, their new custom endpoint provides an estimated fee that is roughly 20% lower compared to the traditional endpoint. For dApps still relying on the standard endpoint, users may continuously approve a higher amount, even though their actual fees will match those provided by the custom endpoint.
RPC infrastructure providers can access this custom endpoint starting with Node version 0.5.13, which is integrated into the Etrog upgrade V0.5.13. For those functioning as infrastructure providers operating RPC nodes on Polygon zkEVM, it's imperative to update to the latest node version on the mainnet to allow dApps to utilize 'zkevm_estimateGasPrice.'
Polygon zkEVM Modifies Its Approach to Transaction Fee Calculations
As a key Polygon solution aimed at enabling developers to create dApps with minimal transaction fees, Polygon zkEVM represents a Layer 2 network of the Ethereum Virtual Machine (EVM) that serves as a
By utilizing zero-knowledge proof technology, Polygon zkEVM seeks to decrease transaction expenses while boosting throughput, all while maintaining robust security zero-knowledge rollup Earlier this year, Polygon zkEVM revised its formula for calculating transaction fees. Although users generally experienced lower fees across many DeFi activities, the estimated gas prices that users had to approve were significantly inflated compared to the actual amounts charged. Ethereum Layer 1.
With the dawn of this custom endpoint to resolve gas fee inconsistencies, Polygon zkEVM aims to enhance operational efficiency, refining predictions and cutting costs for both users and developers.
Please be advised that the information provided on this site is not to be construed as legal, tax, investment, financial, or any other kind of advice. Always invest responsibly and consider seeking independent financial guidance if you're uncertain. For more details, we recommend reviewing the issuer's or advertiser's terms and conditions, as well as their help and support resources. MetaversePost strives for accuracy and impartiality in reporting, yet current market conditions can change unexpectedly.
Disclaimer
In line with the Trust Project guidelines Alisa, a committed journalist with Cryptocurrencylistings, dives deep into the realms of cryptocurrency, zero-knowledge proofs, investments, and the vast universe of Web3. With her sharp insight into cutting-edge trends and tech, she provides thorough reports to keep readers informed in the fast-paced world of digital finance.