Bitrabo Editorial
The Ethereum blockchain uses the Solidity programming language to create smart contracts for decentralized applications (DApps). The latest version of the Solidity language, version 0.8.20, comes with new code enhancements that could significantly lower gas fees for users who depend on smart contracts for their non-fungible token (NFT) or decentralized finance (DeFi) operations.
Every transaction on the Ethereum blockchain, even simple transfers, requires a fee in ETH. This fee is measured in gas and varies depending on the complexity and type of transaction. Complex transactions require more computation and, therefore, higher gas fees. Transactions that involve smart contracts have higher gas fees because they’re more complex and require more computation to process.
The Solidity programming language has been updated with new features and improvements to the code that have stabilized the blockchain and made smart contracts more cost-effective. Specifically, the 0.8.20 version of Solidity introduced a new code operation called PUSH0.
The PUSH0 Opcode Change Helps Reduce Gas Fees Over Time
The PUSH0 operation code allows developers to push a zero value onto the Ethereum Virtual Machine (EVM) stack for only two gwei, which is a significant improvement over previous Solidity versions that required three gwei to do the same. While analysts consider this a minor change, it will help developers reduce the cost of contracts that frequently push zero values to the EVM stack and make smart contracts more cost-efficient in the long run.
Another advantage of the PUSH0 opcode change is the added security it provides by reducing the risk of “gas exhaustion attacks.” Gas exhaustion attacks are a type of denial-of-service attack that targets smart contracts. Attackers execute numerous transactions on a specific smart contract that quickly consumes the available gas, rendering the contract temporarily unusable.
Despite being a relatively new programming language, Solidity consistently remains popular for creating smart contracts on Ethereum. It is Turing-complete, giving developers flexibility in creating all types of smart contracts. As Ethereum gains widespread adoption, the Solidity programming language will continue to evolve to become more efficient in performance and gas consumption.
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