Ethereum gas fee | Bitcointalksearch.org

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

There's a lot of factors to be consider aside from the traffic in the network.
As far as i know ETH team tries to solve this problem since then but they still failed because every time the market pumps and the traffic pumps, the fees also follows which is not a good sign in a blockchain technology. There's a lot of good alternatives honestly, but many still prefer ETH network for some reason, maybe they just have no choice since they are dealing with the token that is under the ETH network.

Kavelj22

legendary

Activity: 1778

Merit: 1474

🔃EN>>AR Translator🔃

Quote from: Kelward on February 22, 2024, 01:29:50 AM

Quote from: Kavelj22 on February 20, 2024, 05:34:48 PM

Ethereum relies on a proof of stake mechanism, which requires a large amount of energy to process transactions, which raises the cost of transactions.
Ethereum faces scalability challenges, which means it is difficult to process a large number of transactions at the same time.

Ethereum is working on updates to improve scalability and lower transaction fees, but these updates have not yet been fully implemented.
Speculation also plays a role in high Ethereum fees, as some investors buy Ethereum in the hope that its price will rise, which increases demand for the currency and raises its fees.

A number of factors are responsible for the high gass fees in Ethereum, and I much agree with the way you outlined them, and it's important to note that it's main atribute is the high demand for Ethereum, just like we also experience high demand for Bitcoin which increases it's transaction fees. The high energy consumption in processing transaction increases it's fees, the scalability issues is another area that increases it's fees, I hope that it's developers finds a lasting solutions for it. Despite the high gas fees investors are still buying Ethereum, because it's a reputable crypto coin that's second only to Bitcoin.

you are right. Ethereum EVM has been able to establish a network system capable of providing the necessary tools for developing decentralized applications using blockchain technology, in addition to a number of other subnetworks that were developed according to the same system. All of this contributed to the high demand for Eth to complete development operations, in addition to financial transfers made via Eth, which succeeded in being listed on almost all trading exchanges.

The most important element that should not be overlooked is the increasing number of investors who are storing Eth, waiting for its price to rise. This has helped in increasing demand for Eth and thus a congested network with high fees.

Kelward

sr. member

Activity: 588

Merit: 338

Quote from: Kavelj22 on February 20, 2024, 05:34:48 PM

Ethereum relies on a proof of stake mechanism, which requires a large amount of energy to process transactions, which raises the cost of transactions.
Ethereum faces scalability challenges, which means it is difficult to process a large number of transactions at the same time.

Ethereum is working on updates to improve scalability and lower transaction fees, but these updates have not yet been fully implemented.
Speculation also plays a role in high Ethereum fees, as some investors buy Ethereum in the hope that its price will rise, which increases demand for the currency and raises its fees.

A number of factors are responsible for the high gass fees in Ethereum, and I much agree with the way you outlined them, and it's important to note that it's main atribute is the high demand for Ethereum, just like we also experience high demand for Bitcoin which increases it's transaction fees. The high energy consumption in processing transaction increases it's fees, the scalability issues is another area that increases it's fees, I hope that it's developers finds a lasting solutions for it. Despite the high gas fees investors are still buying Ethereum, because it's a reputable crypto coin that's second only to Bitcoin.

Sebas.tian

full member

Activity: 2184

Merit: 184

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: BD Technical

It wasn't like this before but now that I'm awake it seems like it's a liability to do anything with this loan. But if the price of Ether was the same as it was in 2017-18. It was like BNP in 2017 because gas was still low but suddenly Donald Trump came to power. It's not going down because of Ether gas and Joe Biden. But if gas tape could be reduced on this cable then it would be better for all of us because everyone enters this bank. In case of holding and unable to exchange due to lack of gas fee, it would be easier to exchange if gas is reduced.

If not because of the high gas fees Ethereum would have be the best altcoinn to make huge amount of income from, but for the high gas fees had made many investors to make another alternative to invest in another coins that will always favour them whenever they want to carry out any transaction in the market. You can see that the price of Ethereum almost hit $3,000 in this month of February, but there is a hope that the price will definitely reach that amount before the end of this month but the gas fee will definitely affect the sellers. Since nobody know when the gas fee will reduce, and you may continue holding your Ethereum and something bad happen that will make the market price to reduce in a way you cannot sell at the moment.

adaseb

legendary

Activity: 3808

Merit: 1723

Lately the fees are higher on ETH, they were cheaper back in January and you could get away with transactions at less than 10 Gwei but for the past couple of weeks it went up.

Funny thing is that BTC network is cheaper now, before you had to pay 30-50 sats per vbyte but now it’s like 15 sats or so. So basically they reversed.

These 2 networks always have high fees. Need to use an l2 if you want to save on fees. Try Arbitrum or bitcoin lightning network if you want to use BTC.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Due to network congestion and also its price. Eth are almost $3k and this is an expensive price so expect the gas fee to soar high too. Well its not ideal but even though its expensive theres a lot of people still using it due to many dapps and ecosystem still revolving and residing on eth network. Me too lve got a lot of farming projects that are in eth network. Its not that I wanted to use that but maybe I dont have much choice.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

Quote from: Volimack on February 21, 2024, 04:13:24 AM

Gas fees have increased to boost the price of Ethereum. Ethereum gas fees exist because resources in the form of computational power are used to operate the Ethereum network. In fact Ethereum gas fees continue to increase through the network. For many it is expensive and many investors cannot exchange due to high gas fees. You can use the exchange sites where the amount of gas fee is less.

if we are talking about trading then yes exchange site could definitely help to save money because the trading transactions are processed off chain basically absolutely no interaction with the blockchain whatsoever but if its about withdrawing they definitely charge really high fee, if i remember they charge about $8 to just withdraw ethereum alone which honestly should be cheap if you just send it directly from one address to another when the gas are low you just need timing when it come to making transaction inside ethereum.
you know sometime today the gas fee floating around 50 gwei sometime tomorrow will definitely decrease as low as 10 gwei and thats already cheap enough for sending ethereum probably only requires a dollar to send an ethereum.
just observe the gas fee, plan the transaction and when the gas fee is low enough execute the transaction i think it should be as easy as that.

cryptoWODL

sr. member

Activity: 434

Merit: 350

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Many people have thousands of questions about why the Ethereum platform or Ethereum coins have high gas fees. Some of the reasons for the increase in the amount of gas fees of Ethereum coins are the high popularity of Ethereum coins and the high usage of Ethereum coins. Moreover, when the price of ethereum coin increases, its gas fee also increases. Gas fees increase whenever demand for the Ethereum network is high. Sometimes the demand on the Ethereum network and the complexity of transactions increase the amount of Ethereum gas fees.

bitzizzix

sr. member

Activity: 2366

Merit: 448

Enjoy 500% bonus + 70 FS

Ethereum network transaction fees can be high due to several different factors, in addition to Ethereum's popularity. And high demand causes network congestion and the ability of blockchain platforms to execute smart contracts is the reason why gas price fees remain high, and although Ethereum network transaction fees are high, this does not reduce its popularity.
And if you don't want Ethereum network transaction fees to be low, you can wait when traffic is quiet and that is a good way to save money on gas fees or not make transactions until it returns to normal but it takes quite a long time.

tsaroz

legendary

Activity: 3094

Merit: 1069

DGbet.fun - Crypto Sportsbook

Ethereum is a huge blockchain with a lot of transactions happening at instance while it's technology was not meant to handle this much traffic. The price of Ethereum is inflated so we need to pay larger amount compared to the USD value. The best way to avoid the huge Ethereum fees is to avoid using the ethereum network itself. There are several alternative to ETH ecosystem that are faster, cheaper and technologically superior.
It's not a bid deal to spend $10 on fees if you are doing one time transaction over $100 but this becomes unbearable when you are paying that fee on exchanging or transferring other tokens. Ethereum can live as an speculative coin like Bitcoin but it can't function as an ecosystem.

$crypto$

legendary

Activity: 2394

Merit: 1049

Smart is not enough, there must be skills

There are certain hours where you can wait for low gwei to make transactions on the Ethereum network, but I assure you it remains expensive in contrast to other altcoin networks.
Agree with some people say because that is the factor where Ethereum transaction fees are expensive.

Quote from: Yogee on February 20, 2024, 05:18:34 PM

Average prices,
ETH Transfer - 75 gwei or $4.77
Swap - $81.98
NFT Sale $138.54
Bridging - $26.37
Borrowing - $69.55

It makes sense that even bridging from ETH to other networks requires $40, let alone selling NFTs on the ETH network is much higher.

Sophokles

hero member

Activity: 1232

Merit: 516

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Due to the intensive traffic, the ETH network has limited traffic handling capability. Users wanted to do their transactions faster than others, so they paid more fees, and when a few thousand users are doing this every minute, just think what would happen. This problem will be solved with the new upgrade the ETH network will have. This is set to happen around March, so i guess gas fees for the ETH network will be reduced 10 times compared to their current situation. With all the layer 2 eth gas fees isn't a problem for the majority.

husencoe

full member

Activity: 658

Merit: 100

I think this is the biggest problem with Ethereum and Bitcoin right now. Many people are abandoning transactions with Ethereum or Bitcoin and switching to coins that have smaller transaction fees. Maybe this is due to the large number of tokens that exist and run by the Ethereum Blockchain and its processing methods. I really hope that the Ethereum fee problem can be resolved soon by developers.

If you want to send your assets to an exchange, it is better to choose another coin supported by the same exchange so you can save a few dollars.

tajimas

full member

Activity: 266

Merit: 108

Quote from: LogitechMouse on February 20, 2024, 11:01:34 PM

TBH, I don't know how Ethereum will solve this high gas fees problem, and to my surprise, there are still many new projects that are being created under Ethereum, and I don't know the reason why.

Project built on Ethereum nowadays simply lets you know that it is backed by more competent and serious teams, Devs and joint venture partnerships, most of them ends up been a very good project with higher value and brings newest innovations in the space thereby making their investors trust in them especially during funds raising. It's a good one to consider project in eth although the bigger boys I mean the whales can only participate because they could afford to pay for transactions fee.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Because of the blockchain module every project has their potential TPS so if more transactions are coming then the queue will be longer then you may have to pay higher fee if your transaction has to be confirmed faster. ETH is making some changes but we can't compare the fees with other blockchain and if you still feel the gas fee is not worth then switch to the chain where it's cheaper. As far as I reckon BNB is the most cheapest comparing others of similar kind.

JayTrain

full member

Activity: 1092

Merit: 105

Sugars.zone | DatingFi - Earn for Posting

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

I believe that gas fees on the Ethereum network can be higher for several reasons. Firstly, Ethereum is one of the most popular blockchain platforms, hosting a large number of projects and applications, which can create competition for block space and consequently drive up fees. Secondly, the Proof of Stake (PoS) consensus algorithm used by Ethereum doesn't always guarantee consistently low fees compared to networks with other algorithms. Additionally, the growing interest in DeFi and other applications on Ethereum can lead to increased demand for transactions, further driving up gas fees.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Blockchain congestion and operation complexity on which this is something
that the main reason on why ETH gas is too high compared among other chains.
Better get used to it if you are just new, but there are moments or times of the day where gas is still low.
You could be able to check out these places for that one;

https://axie.live/
https://gasnow.io/en-US/

Make transactions into the amount of fees that you could be able to afford the fee but
if you are rich then this wont be an issue.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

Network congestion is the main culprit especially on a busy day nowadays in the Ethereum network, there are lots of transactions and you need to pay a decent amount of fees to quickly send your transactions which is not recommended if you are a small trader like others who were sending ETH to their local exchanges with some amount that are even equal to the gas fees some time. So that's why this scenario is not new and they don't have any plan to fix it since the only people that are not pleased with this are those small traders, as for the big ones, they seem not bothered with the high gas fees.

BD Technical

member

Activity: 196

Merit: 14

It wasn't like this before but now that I'm awake it seems like it's a liability to do anything with this loan. But if the price of Ether was the same as it was in 2017-18. It was like BNP in 2017 because gas was still low but suddenly Donald Trump came to power. It's not going down because of Ether gas and Joe Biden. But if gas tape could be reduced on this cable then it would be better for all of us because everyone enters this bank. In case of holding and unable to exchange due to lack of gas fee, it would be easier to exchange if gas is reduced.

Volimack

member

Activity: 462

Merit: 13

★Bitvest.io★ Play Plinko or Invest!

Gas fees have increased to boost the price of Ethereum. Ethereum gas fees exist because resources in the form of computational power are used to operate the Ethereum network. In fact Ethereum gas fees continue to increase through the network. For many it is expensive and many investors cannot exchange due to high gas fees. You can use the exchange sites where the amount of gas fee is less.

bluebit25

sr. member

Activity: 1708

Merit: 295

https://bitlist.co

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

I'm not sure it's complete, but here's what I feel from ETH, reasons why gas fees on Ethereum network are higher than other networks:
- High demand
- Limited scalability
- Fee structure
- ETH value

I find this problem to be actually quite normal as it continues to put a strain on many ETH, high gas fees are a problem for the Ethereum network, and there are also many solutions being developed to solve this problem. Users have the option to use other networks or Layer 2 solutions to reduce transaction costs, as well as the transition to Ethereum 2.0 with its PoS mechanism which is expected to reduce gas fees significantly.

Even so, it is still inevitable that the increase in war activity created by the network does not solve the problems, but it remains a question of whether users accept it, because the service does not serve any individual.

deathcode

copper member

Activity: 1428

Merit: 253

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Transactions on the Bitcoin network also experience the same problem. This may be due to the density of transactions on the Ethereum network which results in transactions requiring more gas to be successful.
This situation has been going on for quite some time, so those who carry out transactions on the Erc network may be better advised to switch to using another blockchain network. This depends on the exchange or your destination whether or not several network options can be used.

ThemFloo

member

Activity: 108

Merit: 11

by network costs. so if you want to exchange to the stock exchange it is more expensive if you go through the ethereum network.
but there are still many options that are cheap.
such as through the bnb network that is cheaper than others.

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Need A Campaign Manager? | Contact Little_Mouse

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Small block size is the main reason why Ethereum has very high gas fees.

Smaller block sizes often lead to network congestion, and knowing how popular Ethereum is, many transactions are waiting to be confirmed. Because of this, it often leads to higher transaction fees because people want to get their transaction confirmed as quickly as possible, and they're willing to pay higher fees for it. This is the reason why Ethereum has high gas fees currently.

TBH, I don't know how Ethereum will solve this high gas fees problem, and to my surprise, there are still many new projects that are being created under Ethereum, and I don't know the reason why.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

It should not be that surprising at all, even if the ethereum developers have made some efforts to alleviate that problem, at the end we are talking about the second most popular coin that exist and that is only behind bitcoin, with the difference there are hundreds of other projects that run above it, so when you think about it we can easily see why the fees on the ethereum network can be higher than what you need to pay with other coins.

Hallroom

member

Activity: 742

Merit: 21

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Currently ERC-20 popularity is very low due to high additional gas fees on the Ethereum platform. If the gas fee was lower, the popularity for it would increase several times more than in the past. Especially most of the projects of BSC20 platform projects are getting more success, that's why all investors are more interested in this BSC platform. If the amount of gas fees on the Ethereum platform is low, then again the popularity of the Ethereum platform will increase.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

Quote from: Yogee on February 20, 2024, 05:18:34 PM

I think Zaguru already covered the reasons. Eth transfers could be as low as $1 or less on a good day but it's a different matter when it comes to interacting with smart contracts. It's probably the developers of these platforms on top of Ethereum that sets the minimum gas for transactions to be accepted.

Average prices,
ETH Transfer - 75 gwei or $4.77
Swap - $81.98
NFT Sale $138.54
Bridging - $26.37
Borrowing - $69.55

Data coming from etherscan gas tracker

what baffle is the fact that people sometime are willing to pay that much fee for swapping despite only swapping minimal amount its just crazy to think if i have $200 in form of ERC20 token and I wanted it to convert into Ethereum and along the way i will lose half of it.
but seeing from the ethereum blockchain explorer prominently etherscan showing me many transactions are swapping with irrelevant amount its the fact that people are still trying to hold onto ethereum as much as they can.
even though if you think about it, there are so many L2 why nod developers and people take advantage of that for the sake of saving money.
ethereum right now doesn't make sense, the other blockchain aside from bitcoin only maxed out at few cents for transactions in ethereum its definitely entire different world.
i guess it was right that ethereum is the blockchain for rich people.

Bureau

sr. member

Activity: 490

Merit: 279

Network congestion is the primary reason why the transaction fee goes up. Everyone wants thier transaction to get confirmation faster which leads them to pay high fees. The high fees results in congestion of the network again which leads to more high fees. This is an ongoing issue with the Ethereum blockchain. If you want to pay less fee the use layer 2 solution on the Ethereum blockchain.

Pi-network314159

sr. member

Activity: 350

Merit: 254

Enjoy 500% bonus + 70 FS

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

What I will tell you is that if the transaction fee is high, and you are using a CEX exchange, you should sell it off and buy Tron, BNB or LTC and send to the next exchange and sell to USDT and buy ETH rather than spending unnecessary fee. Many people who find themselves in this situation has find one way or the other to make sure the find solutions to high fees. Just as bitcoin transaction fee is so high, DEX like trust wallet and people used multisig wallet like electron or blue wallet to move btc with a lesser fee, so you should device a means to move it without undermining the charge involved. It is only those who don't have knowledge on how to manoeuver it will complain. You can also check above comment to check the one that suits your curiousity.

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

because so many transactions get executed, even when the transactions aren't so crowded the gas fee is already high because gast cost is high, mainly caused by the fact that ethereum is quite expensive and maybe the devs never expected that ethereum could be this big but maybe im wrong, as you can see in matic even if gas cost 150 gwei its still cheap because matic itself is cheap so people won't sweat spending 0.1 matic for transaction like swapping or NFT buying for example but imagine same scenario playing out with ethereum, a transaction requires 0.1 ethereum that'd be massive and people will definitely complain thats why the transaction fee is kinda high with ethereum because ethereum itself is priced so high.
added with the fact that swapping and bridging or something like that require high gas because there are many smart contract method being called so of course the fee will multiply significantly if compared with just sending ethereum usually 2-3 times of sending ethereum.

Bitcoin_Arena

copper member

Activity: 2114

Merit: 1814

฿itcoin for all, All for ฿itcoin.

If you are withdrawing from an exchange, most of they kept the Ethereum withdrawal fees much higher, making users think that Ethereum fees were as high as they used to be a couple of years back. But the gas fees have dropped as compared to some time back, and the major reason they were so high was because the network was bloated with so many transactions and smart contract calls. In order for one to have their transactions confirmed ass soon as possible, they had to pay very high gas fees.

Kavelj22

legendary

Activity: 1778

Merit: 1474

🔃EN>>AR Translator🔃

Ethereum relies on a proof of stake mechanism, which requires a large amount of energy to process transactions, which raises the cost of transactions.
Ethereum faces scalability challenges, which means it is difficult to process a large number of transactions at the same time.

Ethereum is working on updates to improve scalability and lower transaction fees, but these updates have not yet been fully implemented.
Speculation also plays a role in high Ethereum fees, as some investors buy Ethereum in the hope that its price will rise, which increases demand for the currency and raises its fees.

Adbitco

hero member

Activity: 1428

Merit: 653

Leading Crypto Sports Betting & Casino Platform

I can't remember when last i did perform a transaction through Ethereum network since last 2 to 3 years I have just space that network, if want to make withdrawal or exchange to exchange I do prefer other network such TRX, LTC, Doge and matic or even BNB with this transaction are more faster and cheaper than using Ethereum network. Whenever someone made mentioned of it it flashes my mind on expensive that network seems to be and for that I have gradually avoided all coin listed in that network except for a trade in exchange i can buy them and trade with it over there after which I sell it of to the currency that can be easily for me to withdraw without passing much stress.

Yogee

sr. member

Activity: 1554

Merit: 413

I think Zaguru already covered the reasons. Eth transfers could be as low as $1 or less on a good day but it's a different matter when it comes to interacting with smart contracts. It's probably the developers of these platforms on top of Ethereum that sets the minimum gas for transactions to be accepted.

Average prices,
ETH Transfer - 75 gwei or $4.77
Swap - $81.98
NFT Sale $138.54
Bridging - $26.37
Borrowing - $69.55

Data coming from etherscan gas tracker

batang_bitcoin

hero member

Activity: 3080

Merit: 603

It simply means demand. Despite that there has been scalability issues ever since with Ethereum, it's still being liked by its major community. You see that despite that there have been some other chains that are supporting the other altcoins, there's still a huge demand for it.
Because if there is none to little, it only means that the fees will come down. It's been so long since I've transacted with Ethereum or with an ERC20 token because I am dismayed with the fees so if there's an alternative network, I choose that.

btc78

full member

Activity: 2520

Merit: 214

Eloncoin.org - Mars, here we come!

Both ethereum and bitcoin have high fees. This is due to network congestion. In a congested network, miners and validators are those who handle these transactions. In handling transactions, miners and validators need to be incentivized. Both coins have only limited space for transactions hence why miners or validators tend to favor or prioritize those who will pay more especially if the transaction requires huge energy. They have different kinds of calculations for fees. Basically their fees depend on different factors.

Ethereum operates or charges gas fees because their fees depend on the gas consumption needed per transaction meanwhile bitcoin operates or charges transaction fees based on the size of the transaction itself. Basically both coins have high fees however ethereum is a tad bit higher.

tyz

legendary

Activity: 3360

Merit: 1533

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Ethereum fees are high due to several factors. The high fees on Ethereum are a result of the network's popularity, limited block space, network congestion and the focus on security and decentralization. Ethereum 2.0, a network-wide upgrade aimed at making the blockchain more scalable using PoS, is being developed to address the issue of high fees. This upgrade is expected to improve the scalability of the network and potentially reduce fees in the future .

Zaguru12

hero member

Activity: 868

Merit: 952

This is scalability problem. The Ethereum network is not scalable enough and just like the bitcoin network, transactions are limited to be included in a block. This limitation causes congestion on the network and that leads to the high fee on Ethereum network. Part of the reasons why it is the most congested network is because of the smart contract build on it network. If you look at the case scenario when inscriptions were built on the bitcoin network you could see the congestion too which causes high transaction fee.

There are other second layers recently that you can use Like the polygon and arbitrum network

Move thread to altcoin board.

BitMaxz

legendary

Activity: 3374

Merit: 3095

Playbet.io - Crypto Casino and Sportsbook

Quote from: Blackie@5 on February 20, 2024, 12:23:20 PM

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Gas fees in ETH are pretty stable since after they switch from POW to POS algo due to a huge increase in gas fees last September 2022 so I don't think we can see so much increase in gas fees when making a transaction. However, if you are referring to the gas fee in USD value then it is high due to the recent price increase.

If this is related to exchange when withdrawing ETH or transferring it to another exchange I suggest if you don't want to spend high on fees use other networks with lesser fees but if you are withdrawing it from exchanges to your wallet not a good idea if you are going to use other networks to receive ETH.

And why did you made this thread here in the development section you should move this to ~~beginners help section~~ instead (it just moved to the altcoin discussion).

Blackie@5

newbie

Activity: 20

Merit: 0

Why is it when making some transactions on Eth network the gas fee is always higher than other network?

Topic: Ethereum gas fee (Read 337 times)