Vitalik Buterin-Inspired NFT Collection
#Ethereum Gas Costs Soar Briefly Due to Buterin Cards NFT Project
The Ethereum network experienced a temporary spike in gas fees due to the launch of an NFT collection themed around Vitalik Buterin, its co-founder. Named "Buterin Cards," this NFT project aimed to mint 2,015 unique NFTs, utilizing a method called JPEG mining. This process involves uploading actual image data onto the Ethereum blockchain, contrasting traditional NFTs that store only metadata.
The collection's minting process led to a considerable increase in Ethereum's gas usage, briefly making it the top gas consumer. At its peak, the project accounted for 13.1% of Ethereum's total gas usage, surpassing significant players like Uniswap and Tether. This heightened activity resulted in transaction fees totaling 318.31 ETH, approximately $665,670, over 24 hours.
However, following this initial surge, the gas usage subsided, falling back behind Uniswap.
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