Ethereum Founder Vitalik Buterin Explains What the Cryptocurrency Market "Needs Right Now" and Names a Project

Source: CryptoNewsNet Original Title: Ethereum Founder Vitalik Buterin Explains What the Cryptocurrency Market “Needs Right Now” and Names a Project Original Link: Ethereum (ETH) co-founder Vitalik Buterin has argued that a reliable, on-chain gas (transaction fee) futures market should be developed to reduce future uncertainty in network fees.

According to Buterin, while transaction fees are low today, users don’t have a clear understanding of how fees will change over the next two years. Therefore, the market needs a new mechanism to generate expectations about future gas fees.

Buterin explained that such a futures market could function like a prediction market built on BASEFEE, allowing users to see market signals about future gas prices more transparently and protect themselves against potential price increases. This structure would effectively allow users to purchase the amount of gas they will need within a specific timeframe, effectively “prepaying.”

Vitalik Buterin also noted that there are already startups working in this area, citing the Oiler project as an example. However, Buterin argued that the ecosystem is not yet mature, stating that the development and widespread adoption of such solutions would provide significant security and predictability for Ethereum users.