Description
Ethereum Eagle (EGL) is a decentralized project aimed at enhancing the Ethereum network's efficiency and scalability. Its primary mechanism revolves around the unique concept of voting to determine the optimal gas limit, which is the maximum amount of gas allowed in a block. EGL voters, who are EGL token holders, collectively decide on the gas limit, intending to balance network scalability with block propagation times. By doing so, EGL aims to alleviate congestion and high gas fees on the Ethereum network, directly addressing one of its most significant challenges. The voting system not only fosters community involvement in the network's core operational decisions but also incentivizes participation through EGL tokens. This approach introduces a layer of democratic governance into the blockchain, allowing stakeholders to have a say in its functional parameters. The project leverages smart contracts and a decentralized governance model, embodying the principles of web3 by promoting transparency, user participation, and a more scalable blockchain infrastructure.
Ethereum Eagle (EGL) is a decentralized project aimed at enhancing the Ethereum network's efficiency and scalability. Its primary mechanism revolves around the unique concept of voting to determine the optimal gas limit, which is the maximum amount of gas allowed in a block. EGL voters, who are EGL token holders, collectively decide on the gas limit, intending to balance network scalability with block propagation times. By doing so, EGL aims to alleviate congestion and high gas fees on the Ethereum network, directly addressing one of its most significant challenges. The voting system not only fosters community involvement in the network's core operational decisions but also incentivizes participation through EGL tokens. This approach introduces a layer of democratic governance into the blockchain, allowing stakeholders to have a say in its functional parameters. The project leverages smart contracts and a decentralized governance model, embodying the principles of web3 by promoting transparency, user participation, and a more scalable blockchain infrastructure.
