Polygon zkEVM Launches Custom Endpoints for DApps to Address High Estimated Gas Fee Problem
In Brief
Polygon zkEVM unveiled a custom endpoint aimed at solving the problem of estimated gas fees exceeding the actual gas fees paid.
Layer 2 Scaling Solution developed by Polygon Labs, Polygon zkEVM introduced a custom endpoint aimed at solving the problem of estimated gas fees exceeding the actual gas fees paid.
In addition to the standard endpoint “eth_estimateGas” that returns the gas required for transaction execution based on the network’s state, Polygon zkEVM introduced two new custom endpoints.
“zkevm_estimateGasPrice” offers an almost precise gas price based on the transaction type and calldata used, considering the state of the network, while “zkevm_estimateFee” provides the estimated transaction fee in accordance with the estimated gas price, considering the state of the network.
Polygon zkEVM stated that the new custom endpoint returned an estimated fee that is approximately 20% lower than the standard endpoint. For decentralized applications (dApps) that continue in using the standard endpoint, users will consistently sign for the higher price, yet the actual fee paid will align with that of the custom endpoint.
For RPC infrastructure providers, this custom endpoint is accessible in Node version 0.5.13, integrated into the Etrog upgrade V0.5.13. Furthermore, for those operating as an infrastructure provider running RPC nodes on Polygon zkEVM, updating to the most recent node release on the mainnet is essential to allow dApps to invoke “zkevm_estimateGasPrice.”
Polygon zkEVM Alters Transaction Fee Calculation
As one of Polygon’s scaling solutions allowing developers to create dApps with low transaction fees, Polygon zkEVM is a Layer 2 network of the Ethereum Virtual Machine (EVM), serving as a zero-knowledge rollup. By leveraging ZK proof technology, Polygon zkEVM aims to lower transaction costs and enhance throughput, all while inheriting the security of Ethereum Layer 1.
Polygon zkEVM modified its transaction fee calculation earlier this year. Although the actual transaction fees for users decreased in most decentralized finance (DeFi) activities, the estimated gas price users had to sign was significantly higher than the eventual amount they would pay.
With the introduction of a custom endpoint to address gas fee discrepancies, Polygon zkEVM is set to enhance its efficiency, adjusting estimates and reducing costs for users and developers.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
