Gas Fee Of BNB Is Increasing | Bitcointalksearch.org

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Quote from: kotwica666 on February 13, 2022, 06:31:47 PM

Quote from: Rana590 on August 27, 2021, 01:18:46 PM

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

The Network of Binance Smart Chain and Ethereum are very similar to each other. I think we could even say that the BSC is a copy of the ETH which just have a few corrections made. Therefore, in my opinion, there is no doubt that when it comes to gas fees, a similar situation to the Ethereum platform will sooner or later happen with Binance. Simply the gas fees will go up as number of users grow.

Have the same impressions just like on other projects as well but we couldnt really deny that there are other platforms which do really handles well when it comes on sudden bloat of users which they could still able

to make transactions fast and cheap and this is should how they would really be having on just like on EOS and TRX which is really great when it comes to those kind of qualities.
For sure BNB would really be having that problem later out but i doubt that they wouldnt really do something about it and waited up for that scenario to happen.

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Quote from: Rana590 on August 27, 2021, 01:18:46 PM

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

The Network of Binance Smart Chain and Ethereum are very similar to each other. I think we could even say that the BSC is a copy of the ETH which just have a few corrections made. Therefore, in my opinion, there is no doubt that when it comes to gas fees, a similar situation to the Ethereum platform will sooner or later happen with Binance. Simply the gas fees will go up as number of users grow.

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Ethereum gass fee is too high gass fee can not be transferred. And what I think is that it has become very expensive. Now I can't transfer any token because of the extra gass fee. BSc is much better than this. Its gass fee is much easier to transfer. I think bsc is better than ether.

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Quote from: 19Nov16 on February 09, 2022, 09:45:02 AM

The number of platforms developing BSC makes the use of BNB continue to increase, this has an impact on increasing gas costs, but I think it's still cheap, to send BNB with Metamask it takes around 8 cents while for tokens it's around 15 cents.

If the BNB price continues to increase and such as the same eth the price may be the cost of gas will be equal to the same. The solution may only be if the price of BNB or ETH does not reach 1000 $ below, it may not happen expensive costs. Many people complained about this continued cost. Now there are many who hope Coin BNB, the ETH is up but rejecting high transaction gas costs..?

Right, actually the expensive gas costs are in accordance with the profit you get, people forget that in the past gas costs were cheap because the price of coins was also cheap, for example today the cost of TRX can be free because the price of TRX is only 6 cents, the ETH transaction fee is around $12 and I think it's still reasonable .

Yes. This also has an influence, but you also have to take into account that the price of the rates increase due to the growing use of the network, and it is for this reason that congestion occurs, something like that is what happens with ETH , they claim that with ETH2.0 everything will be fixed, but Hayqeu waits for its development to see how it goes, however he notes that many are looking for projects through the BSC network because they prefer to pay a fee for the BSC network and not for ETH everything changes, the BNB coin is going down in price, and if it goes down then the fees should go down, but this is not true.

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Quote from: 19Nov16 on February 09, 2022, 09:45:02 AM

The number of platforms developing BSC makes the use of BNB continue to increase, this has an impact on increasing gas costs, but I think it's still cheap, to send BNB with Metamask it takes around 8 cents while for tokens it's around 15 cents.

Yes.
It's still cheaper than ETH's transaction fee which could go more than 10 times if the gwei is too much. Just like ETH before when it's not yet crowded.
Fees are not high.
But when there are too many transactions happening on day by day, the fees have increased significantly.

19Nov16

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The number of platforms developing BSC makes the use of BNB continue to increase, this has an impact on increasing gas costs, but I think it's still cheap, to send BNB with Metamask it takes around 8 cents while for tokens it's around 15 cents.

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If the value of BNB keeps growing up the gas fee will increase that's what I've noticed myself, now that BNB is back to 400$ area the gas fee have also decreased too I guess that's the way things work in crypto space, only coins with massive max supply have cheapest gas fees because their value isn't even close to 1$ per coin or token.

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Quote from: JrRini on February 08, 2022, 08:47:56 AM

The BNB gas fee is increasing day by day like ETH and it is expected to increase further. If it increases further then it will be difficult to swaap tokens and pay a lot. I would like to reduce BNB gas fee. If it increases further, many will not want to ruin the campaign and no one will buy and chat about BSC tokens. Like Ether, BSC value will go down. I am hopeful its value will not increase further and gas fee will be reduced

What you need to understand now is the price of BNB, because if the price of BNB itself increases in the market then the price of transaction fees will also increase and even then it will not be too much and significant as has happened to ETH today because the price of BNB is still very affordable and also not as expensive as ETH, so a slight increase in transaction fees on BSC is natural.

The increase in fiat value of each BNB affects the price of the transaction fees.

I follow that argument since that the same thing happened to ETH. So far it's not being that huge, but along the way when BNB
reached much higher value, transaction fees that converted to fiat value will be very alarming.

It is always the case when increase happened to any utility asset. You need to understand things well and continue doing your research
about the use case if it's still the only option you've got.

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BSC is 100% centralized. Their "gas" fee is an arbitrary fee they charge that they think they can get away with. They get 100% of it after they "burn" some portion.

BSC is just a crypto trading game, where you pay with real crypto to get access, and get wrapped "binance" game tokens to play with.

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Quote from: AmoreJaz on February 08, 2022, 06:59:53 PM

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Yes, we can see that the gas free of BNB platform is slowly increasing. Ethereum platform gas fees were once very low but now Ethereum platform Gas fees have risen so much that people have abandoned the Etherium platform altogether. But then the BNB platform came and the platform became very popular as the gas fee was very low.At present the transaction fee of BNB platform is increasing. In that case, the etherium would be destroyed like a platform

and now comes with other networks like sol, ada, matic, avax. lol with the increasing number of bsc users, no doubt that they will slowly increase the fees in order to prioritise your transaction. don't worry, some networks are rising up to compete with their market. users have other options now. it is not limited to one or two but many. this is the beauty of competition, they are finding ways how to come up with better services so users will go to their network.

Because a lot of people using BNB now no doubt they will increase their Fees, also there are upcoming many projects of NFT and metaverse. In the old days cryptocurrencies perform very little fees to their users and now I feel like their fees are around the same as PayPal and others. Well Ethereum should decrease its Fees price and BNB should maintain its fees to keep its users using BNB platform.

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Yes, we can see that the gas free of BNB platform is slowly increasing. Ethereum platform gas fees were once very low but now Ethereum platform Gas fees have risen so much that people have abandoned the Etherium platform altogether. But then the BNB platform came and the platform became very popular as the gas fee was very low.At present the transaction fee of BNB platform is increasing. In that case, the etherium would be destroyed like a platform

and now comes with other networks like sol, ada, matic, avax. lol with the increasing number of bsc users, no doubt that they will slowly increase the fees in order to prioritise your transaction. don't worry, some networks are rising up to compete with their market. users have other options now. it is not limited to one or two but many. this is the beauty of competition, they are finding ways how to come up with better services so users will go to their network.

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Quote from: BlackBaron on February 05, 2022, 03:09:17 PM

Comparison of gas fees between eth and bsc networks is very different, but users of the ETH network are still dominant and do not completely switch to other networks, currently gwei transactions are never stable and sometimes drop to 40 gwei so it is cheaper to pay for transactions on Uniswap.

Many are switching networks for their transactions. The good thing with many altcoins these days is that they're also supported in other networks. Like if there's an erc20 token, there's a chance that it's also in BSC for being bep20 token and as well as other networks that has lower fees.
That's why if you're sending that much in erc20 and you're too irritated with the fee. Always check the exchanges if they have support for that token in other networks for you to save much in fees.

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The BNB gas fee is increasing day by day like ETH and it is expected to increase further. If it increases further then it will be difficult to swaap tokens and pay a lot. I would like to reduce BNB gas fee. If it increases further, many will not want to ruin the campaign and no one will buy and chat about BSC tokens. Like Ether, BSC value will go down. I am hopeful its value will not increase further and gas fee will be reduced

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Quote from: tbct_mt2 on January 15, 2022, 08:27:04 AM

Technically it is how new blockchains can give very cheap transaction fees. Their original promise will be our projects can provide very cheap, cheapest transaction fee. Our networks won't have issue with scaling, size, etc. Many of new projects die months later or fail to grow so we never have chance to verify their promise.

Else, successful projects will cope with increase of network activities then it leads to issues. We see it with Ethereum, Binance Smart Chain and lately Solana.

It's all a marketing technique new crypto projects use in order to attract investors into them. Once network activity increases, their claims of being the fastest and cheapest blockchain in the world become futile. Any cryptocurrency no matter how scalable it claims to be, can be subject to slowdowns and high TX costs due to high network load. It's all a matter of constantly improving the core blockchain technology in order to prevent fees from becoming economically unfeasible.

BNB's gas fees may've increased lately, but it's still much cheaper to use than ETH. Not to mention, Binance's own blockchain network is much more reliable and secure than Solana. With so many alternative blockchain networks and Layer-Two scaling solutions, there's no need to worry about gas fees increasing on a single chain. You'd simply move to another coin whose fees are extremely low. As long as money keeps flowing on BNB, nothing else matters. Just my opinion

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Quote from: nimogsm on January 15, 2022, 11:21:40 AM

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BNB gas fee is increasing but still it is good gas fee than ethereum the gas fee of ethereum is really very high compair to BNB gas fee and it is already know for so many times now that is why people do used BNB than ethereum because gas fee really matters.

There is no strong increase in gas prices now.Now transactions are available to everyone, it's really inexpensive and it pleases.in addition, against the background of the main competitor, this is really noticeable as a difference.Of course there are problems in the network, but they pass quickly.

Of course , against the background of the main competitor , this is very noticeable , the price for gas is very attractive to me , and it is much cheaper to send transactions to the BSC network , well , problems periodically happen for everyone Wink

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Quote from: Nazmul012 on February 05, 2022, 02:45:03 PM

So is happening due to pressure is getting higher on bsc network. People are shifting on bsc network aggressively instead of/along with eth chain but i like the way how bsc manages their fee service in the comparison of eth. Because eth takes $25+ for erc20 tokens transactions & bnb takes 0.46 to 0.60 cent max for bep20 transactions. Eth token swap is killing cause sometimes need $200+,, while swap can be done on pancakeswap less than $1 with fast transaction.

Comparison of gas fees between eth and bsc networks is very different, but users of the ETH network are still dominant and do not completely switch to other networks, currently gwei transactions are never stable and sometimes drop to 40 gwei so it is cheaper to pay for transactions on Uniswap.

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So is happening due to pressure is getting higher on bsc network. People are shifting on bsc network aggressively instead of/along with eth chain but i like the way how bsc manages their fee service in the comparison of eth. Because eth takes $25+ for erc20 tokens transactions & bnb takes 0.46 to 0.60 cent max for bep20 transactions. Eth token swap is killing cause sometimes need $200+,, while swap can be done on pancakeswap less than $1 with fast transaction.

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BNB gas fee is increasing but still it is good gas fee than ethereum the gas fee of ethereum is really very high compair to BNB gas fee and it is already know for so many times now that is why people do used BNB than ethereum because gas fee really matters.

There is no strong increase in gas prices now.Now transactions are available to everyone, it's really inexpensive and it pleases.in addition, against the background of the main competitor, this is really noticeable as a difference.Of course there are problems in the network, but they pass quickly.

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Quote from: Abiky on December 08, 2021, 12:24:35 PM

That's the problem. Fees rise according to network activity. Since smart contracts (dApps) require constant interaction on the Blockchain, fees will only go higher over time. The more people use the Blockchain, the higher the gas fees will be.

Technically it is how new blockchains can give very cheap transaction fees. Their original promise will be our projects can provide very cheap, cheapest transaction fee. Our networks won't have issue with scaling, size, etc. Many of new projects die months later or fail to grow so we never have chance to verify their promise.

Else, successful projects will cope with increase of network activities then it leads to issues. We see it with Ethereum, Binance Smart Chain and lately Solana.

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I think the transaction fee on BNB is still cheap and according to what we get, to send tokens is only about 13 cents and it only takes 45 seconds to reach 10 confirmations, if one day the transaction volume is 10x from now it might cost more than $ 1.

The transaction gas fee always depends on the price of the BNB itself because when the price of BNB becomes more expensive, the amount that must be spent in each transaction will also look expensive even though the number of digits still looks the same as before.

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