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Level: MA
Responsible Person: Syed Muhammad Yasir
Keywords: Gas Costs, Layer 2s
This thesis project titled "Optimizing Gas Costs in Ethereum Using Layer 2 Solutions" aims to explore and evaluate the efficiency of various Layer 2 scaling technologies in reducing transaction fees on the Ethereum network. With Ethereum's growing popularity, high gas costs have become a significant challenge, limiting its accessibility and scalability. This study will focus on comparing three prominent Layer 2 solutions—Polygon, Arbitrum, and Optimism—to determine their effectiveness in lowering gas fees across different types of Ethereum transactions, including simple transfers, token swaps, and several types of smart contracts.
The research involves deploying smart contracts and decentralized applications (DApps) on Ethereum's Layer 1 and these Layer 2 networks, analyzing the gas costs incurred in each scenario. By providing a comprehensive comparison of these Layer 2 solutions, the thesis seeks to identify the most cost-effective option, offering valuable insights for developers and businesses looking to optimize their operations on the Ethereum blockchain.
Some main aspects might involve:
Selection of Layer 2 Solutions: Focus on Polygon, Arbitrum, and Optimism, each with different approaches to reducing gas costs and enhancing scalability.
Smart Contracts and DApps: Deploy or use existing smart contracts on both Ethereum Layer 1 and Layer 2 networks, covering simple ETH transfers, ERC-20 transfers, and complex DeFi operations.
Deployment and Testing: Deploy contracts across platforms, recording gas costs, transaction times, and evaluating potential delays or failures
Data Collection and Analysis: Gather and analyze data on gas usage, calculate cost savings, and assess factors like ease of deployment and compatibility.
References:
L. Marchesi, M. Marchesi, G. Destefanis, G. Barabino and D. Tigano, "Design Patterns for Gas Optimization in Ethereum," 2020 IEEE International Workshop on Blockchain Oriented Software Engineering (IWBOSE), London, ON, Canada, 2020, pp. 9-15, doi: 10.1109/IWBOSE50093.2020.9050163
lbert, E., Correas, J., Gordillo, P., Román-Díez, G., Rubio, A. (2020). GASOL: Gas Analysis and Optimization for Ethereum Smart Contracts. In: Biere, A., Parker, D. (eds) Tools and Algorithms for the Construction and Analysis of Systems. TACAS 2020. Lecture Notes in Computer Science(), vol 12079. Springer, Cham. https://doi.org/10.1007/978-3-030-45237-7_7
T. Chen et al., "GasChecker: Scalable Analysis for Discovering Gas-Inefficient Smart Contracts," in IEEE Transactions on Emerging Topics in Computing, vol. 9, no. 3, pp. 1433-1448, 1 July-Sept. 2021, doi: 10.1109/TETC.2020.2979019
Abdullah A. Zarir, Gustavo A. Oliva, Zhen M. (Jack) Jiang, and Ahmed E. Hassan. 2021. Developing Cost-Effective Blockchain-Powered Applications: A Case Study of the Gas Usage of Smart Contract Transactions in the Ethereum Blockchain Platform.