Gas Fee Of BNB Is Increasing - page 11.

ayukartika

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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.

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, 10:21:23 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the future with more complex features and user-friendly functionality, we can leave the old chain because the feature is obsolete.

fileo

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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, 01:30:10 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, 01:30:10 PM

Quote from: Rana590 on September 02, 2021, 12:56:43 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.

marcous

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Quote from: Rana590 on September 02, 2021, 12:56:43 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.

Fredomago

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Quote from: 7788bitcoin on August 30, 2021, 04:58:15 PM

Quote from: Fredomago on August 30, 2021, 04:09:08 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, 08:36:39 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, 03:40:35 PM

Quote from: andyou1234 on August 30, 2021, 12:58:42 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, 07:24:44 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.

Pulsar77

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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.

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Quote from: UserU on August 30, 2021, 09:46:54 AM

Quote from: leea-1334 on August 30, 2021, 08:08:24 AM

Then ETH got popular and smart contracts got more expensive.

BNB/BSC is going down the same path.

Yeah. Once BNB reaches over 1K, some other entity is gonna take its place.

Not just that,,, once BNB goes over 1K and let us say it grows the userbase and defi pools all start spamming with NFTs and multiple stakings, then you will start seeing things slowing down and people overpaying fees.

Then the 50 cents you pay now becomes $5. And then if price triples you start paying $15. It becomes ETH all over again except ETH already by then goes to 2.0

Nivia1st

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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.

network fees increase one of the reasons is because of the increase in TPS. many people are switching from ethereum network to BSC. This is one of the biggest reasons why fees have increased recently. but despite all that, the fee on the BSC network is still quite affordable when compared to the fee on the ethereum network. so this is not a big problem for me.

7788bitcoin

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Quote from: Fredomago on August 30, 2021, 04:09:08 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.

Fredomago

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Quote from: globalpain on August 30, 2021, 03:40:35 PM

Quote from: andyou1234 on August 30, 2021, 12:58:42 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

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.

Fivestar4everMVP

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I remember saying a thing like this before on this forum, people running to binance smart chain just because the gas fee there is very low, I said it before that gas fees on binance will definitely go up as soon the chain begin to see alot of activity and movement of funds, it's already happening little by little, my prayer now is that it doesn't get as worst as it is with Ethereum blockchain, having to pay all this high fees for transactions in crypto isn't what crypto stands for, I wonder where we got it wrong, crypto transactions and payment were supposed to cheap and affordable to all, but today, things are totally different.

globalpain

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Quote from: andyou1234 on August 30, 2021, 12:58:42 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

lixer

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Quote from: Yamifoud on August 30, 2021, 08:38:17 AM

I don't know where OP had that issue since most of us who use the BNB or BSC platform could justify that the fee still remains low. $1 or even if it reaches $2, it is still quite low for me either. While ETH gas fee remains high, more than twice of BNB, this is not the thing we have to worried about unless if it continued to increase.

OP, please calm down. It wasn't that high enough to get emotional as sometimes fees increase will happen anytime. Like BTC transactions, it usually makes some surge like it reaches $10 and more in the previous weeks but for now, it drops again. Actually, it was just ETH had never drop till now.

At some point it was under 60 cents, I mean that was of course few months ago and nothing new but that was the case a few months ago. Nowadays it is a bit over 1 dollars, which is nearly a double increase. However that is is absolutely nothing compared to what is going on over at ETH constantly, it goes up and down like crazy and I have seen $40 approval many times as well, it is seriously not making any sense at all because of this reason.

I mean if there was a better option than I am sure people would move there, but just one dollars plus having one of the biggest ever ecosystems gives BSC the fair play better advantage for sure, it is just too obvious. So at the end of the day if we are not going to see any problems with the current situation, then we should keep grinding over at BSC, if one day ETH manages to drop it down then we could discuss.

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