Anybody who has used Ethereum smart contracts recently is aware that it has gotten expensive. There are a large quantity of complicated and clever tec

The Gang Solves the Gas Crisis

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2021-05-23 17:30:07

Anybody who has used Ethereum smart contracts recently is aware that it has gotten expensive. There are a large quantity of complicated and clever techniques each with their own trade-offs that are collectively referred to as "layer 2 solutions" (see further resources for more information about these). This is in contrast to the base computational layer of Ethereum called "layer 1", which is what constitutes most Ethereum usage and where Urbit ID’s smart contracts currently exist.

Tlon has always covered gas costs for Urbit ID up to a set limit, and this was easy a couple of years ago when the cost of transactions required to get a planet up and running came out to less than a dollar. Unfortunately the ongoing Ethereum gas crisis, along with the rising price of Ethereum itself, has made this impossible. We’ve seen gas costs to set up a planet as high as several hundred US dollars at time of writing!

In response to the gas crisis, Tlon has spent the last several months developing a simple, in-house layer 2 solution which we anticipate will reduce typical gas costs by 65x or more.

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