Ethereum (CRYPTO:ETH) co-founder Vitalik Buterin introduces EIP-7706, proposing a specialised gas type for transaction calldata.

This proposal advocates for a separate fee market with distinct base fees and block limits, aiming to lower costs and improve blockchain security.

EIP-7706 also addresses concerns about gas limit and cost efficiency by unifying fee structures across different transaction types.

By simplifying gas handling mechanisms and enhancing security measures, the proposal seeks to optimise Ethereum's scalability and economic feasibility.