Vitalik’s NFT makes Ethereum gas spike

Estimated read time 2 min read

In an unexpected twist, Ethereum’s gas consumption skyrocketed, thrusting a Vitalik Buterin-themed NFT collection into the spotlight. The Buterin Cards project, with its groundbreaking approach, directly embeds image data on the Ethereum blockchain.

Unforeseen Ethereum gas spike

By 3:00 p.m. ET on Friday, Buterin Cards claimed the top gas-guzzler position, devouring a staggering 13.1% of total gas units in the past three hours, temporarily eclipsing heavyweights like Uniswap’s router and Tether’s public address.

As seen in Etherscan, transaction fees for the Buterin Cards collection hit 318.31 ETH, a hefty $665,670 within 24 hours. However, post-surge, Ethereum gas usage rapidly retreated, conceding its top spot back to Uniswap.

JPEG Mining: A Game-Changing NFT Method

But what distinguishes Buterin Cards? Its novel approach, JPEG mining, involves uploading 2,015 NFTs dedicated to Ethereum co-founder Vitalik Buterin. Unlike conventional NFTs that store only metadata on-chain, these NFTs directly embed image data onto the Ethereum blockchain.

Explaining the process, the project’s website notes, “To thwart miners from uploading arbitrary data, the smart contract verifies correctness by computing the data’s hash. Thanks to progressive JPEG technology, the NFT image gradually reveals itself as it’s mined.”

Mining actively participants receive cards featuring varying quality levels of Vitalik Buterin’s image.

Ethereum’s Dynamic Landscape

In this ever-evolving blockchain realm, Buterin Cards stands as a unique experiment, highlighting Ethereum’s adaptability and the community’s penchant for exploring uncharted territories. This event underscores the platform’s dynamic nature, embracing initiatives like JPEG mining that challenge traditional norms.

As the crypto community keenly observes Ethereum’s narrative, Buterin Cards serves as proof of the platform’s resilience, welcoming innovative projects that push NFT boundaries.