What impact does Ethereum 2.0 have on Gas fees

Ethereum 2.0 has had a positive impact on Gas fees in many aspects, mainly reflected in the following aspects:

• Transformation of consensus mechanism : Ethereum 2.0 shifts from Proof of Work (PoW) to Proof of Stake (PoS). In PoW mode, miners consume a lot of resources in order to obtain block yield rights, so they offset the cost through high handling fees. However, in PoS mode, validators create and verify blocks based on the number of tokens they hold and the holding time, which reduces mining costs and network burdens, reduces competition among miners, and their demand for high fees has also decreased accordingly, and they are more willing to accept lower fees to process transactions.
• Introduction of sharding technology : Ethereum 2.0 divides the network into multiple sharding chains through sharding technology. These sharding chains can process transactions in parallel, greatly improving the network's throughput capabilities and processing more transactions at the same time, thereby effectively alleviating network congestion. When the network is no longer congested, the basic fees will drop, and even if the high miner tip is not paid, the transaction can be processed faster, and the overall handling fee will be reduced.

According to market data, after the upgrade of Ethereum 2.0, the median Gas fee has stabilized in the 3-5Gwei range, down 72% from its peak in 2024.