More Meters or More Prices? One- vs. Multi-dimensional Fee Mechanisms on Ethereum
In briefMore Meters or More Prices? Comparing Single and Multi-Dimensional Ethereum Fee Designs
SummaryThis paper examines Ethereum's shift from a one-dimensional transaction fee mechanism to a multi-dimensional one that prices execution, data, and state creation separately. The authors build a demand model calibrated from 2025 block-capacity increases and find that state creation is the most price-responsive resource. Combining this model with transaction-level metering reconstruction and block-level simulation, they report that the multi-dimensional design removes fee coupling and yields more execution throughput at similarly low congestion.