Gas Fee Of BNB Is Increasing - page 11.

UserU

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Quote from: abralzain17 on September 04, 2021, 12:16:34 AM

Is the current increase in transaction costs in bnb caused by the increasing price of bNb? Or is it just because the number of Binance users continues to increase, so the number of transactions continues to grow and causes high gas fees?

Both. When more people congest the blockchain with swaps and trades, the cost per transaction increases too.

Just like ETH.

abralzain17

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Is the current increase in transaction costs in bnb caused by the increasing price of bNb? Or is it just because the number of Binance users continues to increase, so the number of transactions continues to grow and causes high gas fees?

Hasan986

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It is very sad. Currently, many traders have opted for Bep20 due to low fees. Lately I have seen that the fee has increased a lot. Above about 1$. Which used to be 8-15 cents. There are many small traders who are facing losses in this. Maximum low capital trader does not swap on Erc20. If Bep20 increases in the future, maybe they will move away from Bep20.

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Quote from: Devifajarina on September 03, 2021, 03:57:27 PM

Quote from: Rana590 on August 27, 2021, 02:18:46 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 current increase in ethereum gas, actually makes more people use their services, I am also very surprised at this condition, there is no strong reason for us and them to continue to use these services, even today there is no such thing as free gas, there is only an increase in the cost of the gas, even though almost everyone is heading and paying attention to BNB at this time, it is quite strange indeed, if we try to put this into our logic and try to understand it as a whole.

As the demand increases, what they can do is slowly increase the gas fee. It may not be high but for those who are willing to pay higher fees for their transactions, they can do so. Just like in eth network. In time, we will see how BNB network will address their congestion. As many projects are diverting their interest to BSC network, very soon, we will find out that this network is also experiencing congestion.

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Quote from: Xinarae* on August 31, 2021, 09:36:39 AM

Gas fees are much lower than ethereum's at present the demand of BNB has increased a lot and the amount of its gas fee is increasing due to more transactions. Developers are increasing their amount I think there may have been a problem with their network it has not yet been implemented properly The demand for binance to be its own currency is always high in the market such a high amount of fees will not last very long.

On a direct transaction now it costs 25 cents for BNB, which I just tried today and only a few months ago it was only 3 cents,,, so that is a 8x growth when the price has only grown about 2 times. So from the math it is easy to see things will also heat up.

Whereas for ETH yes it is high now but a while back it was "only" $2 at $4000 price Roll Eyes

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Quote from: Rana590 on August 27, 2021, 02:18:46 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 current increase in ethereum gas, actually makes more people use their services, I am also very surprised at this condition, there is no strong reason for us and them to continue to use these services, even today there is no such thing as free gas, there is only an increase in the cost of the gas, even though almost everyone is heading and paying attention to BNB at this time, it is quite strange indeed, if we try to put this into our logic and try to understand it as a whole.

Oneandpure

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Right now many trader and investor move to pancake exchange because support with BSC network as fees transaction lower than ERC20 network, I think not higher impact although gas of BNB coin increasing because still very expensive fee pay by trader and investor if using coin support by ERC20 network. Better keep using bsc as network coin and have lower fees transaction right now than if you use ERC20 coin where take more than 30$ when selling or buying coin on uniswap.

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Gas fees are much lower than ethereum's at present the demand of BNB has increased a lot and the amount of its gas fee is increasing due to more transactions. Developers are increasing their amount I think there may have been a problem with their network it has not yet been implemented properly The demand for binance to be its own currency is always high in the market such a high amount of fees will not last very long.

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Quote from: Rana590 on August 27, 2021, 02:18:46 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.

Gas fees in BSC are still lower than eth network but it's a bit higher than before. Actually, it shows the BSC network got more users and more transactions every day. Though the BSC network can process 55 to 60 transactions per second it's not enough when more people are coming every day. So network got more traffic with the same capacity to handle them. That is the reason behind Increasing BNB fees.

I also agree with what you said. behind the increase in BSC gas costs which are getting higher day by day, it is due to the large number of users making transactions with BSC so that the transaction network becomes blocked which results in an unavoidable increase in gas costs, this is the same as ETH in the past. Hopefully in the future with the development of technology, problems like this will not happen again.

pauloaragaomelo

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Quote from: dhemasm on September 03, 2021, 11:21:23 AM

It always needed mate, Things will change to become much better even though BNB it's good for now and have flat fee it's going to increase since the gas price was affected by the price, Yeah BEP-20 it's the most good Alternative chain and it's enough for now but we need more scalable and better chain in the future and there will be always new alternative out there. If we get better other chain in the future then why not?

Revolution in crypto will always be innovative for new alternative chain for crypto community, we didn't know about BEP-20 chain at first then after release got positive response that many ERC-20 users switched to BEP-20 due to major problem in gas fee transaction, what if there will be a new network chain in the future with more complex features and user-friendly functionality, we can leave the old chain because the feature is obsolete.

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True however it is still lower compare to Ethereum gas fee cost of $8 per transaction while in BSC it is $1.5 or $2. Although gas fee is increasing the people still choose to use BSC than ETH because of cheap transaction over $8 per transaction of ERC 20. I hope BSC will not increase the gas price every time. Because it would be difficult for small time to do transactions.

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Quote from: marcous on September 02, 2021, 02:30:10 PM

Actually, there is no need for other alternatives, but because BNB is sufficient for all things, other alternatives seem to be neglected, even though every alternative that has been developed and implemented well, all of them clearly have benefits and will not feel redundant.

It always needed mate, Things will change to become much better even though BNB it's good for now and have flat fee it's going to increase since the gas price was affected by the price, Yeah BEP-20 it's the most good Alternative chain and it's enough for now but we need more scalable and better chain in the future and there will be always new alternative out there. If we get better other chain in the future then why not?

Rana590

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Quote from: marcous on September 02, 2021, 02:30:10 PM

Quote from: Rana590 on September 02, 2021, 01:56:43 PM

If the price is within our control then we have no problem. It is true that the demand of BNB is much higher and the volume of transactions is increasing a lot. If that were the case, the gas fee would have remained the same as the demand increased. Then we would not have to look for any other alternative.

Actually, there is no need for other alternatives, but because BNB is sufficient for all things, other alternatives seem to be neglected, even though every alternative that has been developed and implemented well, all of them clearly have benefits and will not feel redundant.

Shall we not accept something new? When Ethereum was right, did we think of any other alternative? But now we have converted to BNB. If we get better options in the future, people will lean towards it. However, if the gas fee is low in any one blockchain network, the number of users will increase a lot. Everyone will benefit from that.

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Quote from: Rana590 on September 02, 2021, 01:56:43 PM

If the price is within our control then we have no problem. It is true that the demand of BNB is much higher and the volume of transactions is increasing a lot. If that were the case, the gas fee would have remained the same as the demand increased. Then we would not have to look for any other alternative.

Actually, there is no need for other alternatives, but because BNB is sufficient for all things, other alternatives seem to be neglected, even though every alternative that has been developed and implemented well, all of them clearly have benefits and will not feel redundant.

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Quote from: 7788bitcoin on August 30, 2021, 05:58:15 PM

Quote from: Fredomago on August 30, 2021, 05:09:08 PM

~
Far from how costly ETH was, though with usages BSC is now moving the same path we are seeing this increase for now not that much and hoping that before it went to that far BSC will able to find the best solution for it.

Still cheap if you are using this chain as an alternative and if you are more focused on projects that being created under this chain.

considerable and still good for traders to use this chain if they are moving their assets regularly.

The fees in ETH cannot be compared to any other coin, if you look at Bitcoin the fees are really low and for ETH if you are purchasing anything at an auction then the fees goes through the roof and there are people still trying to purchase them despite the fees and on the other hand BSC network is far far better for now and in the future we might see the bottle neck hurting them but i hope they will handle them as they are a fully centralized structure with only a few nodes.

That's also what I wish for this chain, not to follow ETH and have their fees be controlled before sudden increase that no longer considerable knowing that there are many developers now that use this chain.

A great alternative for small traders and investors, like what I've said, the fee for transacting using BSC still far from the fee using ERC.

Being crealistic, you mostly choose cheaper transaction whenever you deal with your trades..

Oneandpure

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Increasing gas for BNB fees depend how much BNB value and depend with coin you make swap or sending, with shit coin you need to pay more than $1 for swap and must use bigger slippage above 15% and 20%, but if great coin like BNB, AXIE and other bigger BSC coin network maybe few cent you pay fees about 0.1$ until 0.4$. I ever swap with shit coin pay more bigger than great coin but if profit I don't care about it.

Rana590

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Quote from: Xinarae* on August 31, 2021, 09:36:39 AM

Gas fees are much lower than ethereum's at present the demand of BNB has increased a lot and the amount of its gas fee is increasing due to more transactions. Developers are increasing their amount I think there may have been a problem with their network it has not yet been implemented properly The demand for binance to be its own currency is always high in the market such a high amount of fees will not last very long.

If the price is within our control then we have no problem. It is true that the demand of BNB is much higher and the volume of transactions is increasing a lot. If that were the case, the gas fee would have remained the same as the demand increased. Then we would not have to look for any other alternative.

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At the moment the price of binance is growing, so gas costs are also increasing a bit, but I don't think the increase is too high compared to etherem gas costs, so I don't feel panic about this situation because the increase is still very affordable.

conected

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Quote from: globalpain on August 30, 2021, 04:40:35 PM

Quote from: andyou1234 on August 30, 2021, 01:58:42 PM

At the moment the price of binance is growing, so gas costs are also increasing a bit, but I don't think the increase is too high compared to etherem gas costs, so I don't feel panic about this situation because the increase is still very affordable.

If you compare it to the cost of ethereum gas, of course it's still far away,
so far for myself this thing like this has not bothered me,
What I'm worried about is that when Binance's gas costs are increasing day by day, of course this is something we don't want

- Binance definitely won't go into ethereum's unmanageable reign because they know ethereum's popularity is also waning due to fees, binance has contributed quite a lot as well as enhancing their design with the community, adjusting the cost to dissolve the skepticism and get accepted by the community, producing results is very difficult and they will definitely reserve everything. The cost of BNB increases only because the transaction size and volume is surging, just a few unusual manifestations, BNB's policy will remove such problems as to keep everyone's satisfaction intact

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Quote from: Pulsar77 on August 31, 2021, 08:24:44 AM

As long as more people start using BNB and the network starts slowing down, we will observe much higher fees in the future. And it is totally normal unless the developers of a coin don't do anything to prevent this slowness and high-fee problem. At least Ethereum developers promise to do something about it but I haven't heard anything from the BNB side yet.

but what has been promised by ethereum has not been fully implemented, the problem of high costs still sticking out at certain times or it can be said when traffic is high, this also has its own problems. many competitors will continue to appear if ethereum can't improve itself and indeed many have done on new projects where one of them is clearly BNB, and so far there have been no very crucial problems that have occurred in BNB as you said, especially regarding delays and I use still at a reasonable level.

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