Vitalik Buterin:Crypto Wallet Fees to Fund Developers

Ethereum’s Vitalik Buterin proposes crypto wallet fees in order to support the developers of digital wallets.

Vitalik Buterin, the creator of Ethereum, has recently proposed a “sustainable” way to finance the development of a portfolio of crypto-currencies: a minimal fee for each Ether transaction that will be donated to crypto-wallet developers. In his suggestion, a small amount in fees could lead up to $2million a year.

He twitted last friday:

I propose we consider supporting a community norm that client/wallet/ devs can/should charge a 1gwei/gas fee for txs sent through their wallet, we don’t try to circumvent such fees, and we support protocol changes to make such fees easier.

He added:

At the cost of only increasing average user gas costs by 7 percent, it would raise up to ($2million per year) in sustainable, non-institutionally biased, market-based funding for client/wallet developers. For reference, that would cover all grants to date….with room to spare.

He wanted to encourage the fee as a norm and not as a mandate within the Ethereum ecosystem. However, many users were not really enthuastic to have to pay for this fee, some have even expressed their dissatisfaction on twitter.

Source: coindesk

Check Also

Facebook Coin:A $ 1 BILLION DRIVE Venture Capital

On Monday, New York Times reporter Nathanial Popper revealed that Facebook would seek $ 1 …