The Zcash development team has proposed a dynamic fee mechanism to address the issue of skyrocketing fees during periods of high network activity caused by fixed rates. The new proposal, released by Shielded Labs, uses the median fee of the past 50 blocks as the base rate, with fee levels graded by powers of 10. Additionally, a 10x priority channel will be activated during congestion to prevent users from being priced out of the network due to excessive fees. The plan will be rolled out in phases and may ultimately be implemented through a simple consensus change, without the need for a complex design like Ethereum's EIP-1559. (CoinDesk)
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The Zcash development team has proposed a dynamic fee mechanism to address the issue of skyrocketing fees during periods of high network activity caused by fixed rates. The new proposal, released by Shielded Labs, uses the median fee of the past 50 blocks as the base rate, with fee levels graded by powers of 10. Additionally, a 10x priority channel will be activated during congestion to prevent users from being priced out of the network due to excessive fees. The plan will be rolled out in phases and may ultimately be implemented through a simple consensus change, without the need for a complex design like Ethereum's EIP-1559. (CoinDesk)