Key Takeaways
Most existing fee market designs utilize a joint, fungible unit of account (e.g., gas in Ethereum) to price otherwise non-fungible resources such as bandwidth, computation, and storage, by hardcoding their relative prices.
Many prominent networks such as Ethereum and Solana have proposed multidimensional fee markets to address how fixing the relative price of each resource in this way inhibits granular price discovery.
This paper provides a principled way to design fee markets that efficiently price multiple non-fungible resources.
Research
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