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Topic: Gas Fee Of BNB Is Increasing - page 12. (Read 1803 times)

full member
Activity: 462
Merit: 100
August 30, 2021, 12:20:35 PM
#69
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.
When coins price increases gas fee will increase it is a simple matter for that reason gas fee increase but it is not fair for everywhere every moment.
full member
Activity: 396
Merit: 106
August 30, 2021, 12:08:30 PM
#68
It's rare to hear people complaining about BNB gas fees. Binance Smart Chain was designed to release users who are dealing with high transaction fees and charge a fee as small as a peanut. Due to some reasons, I'm admiring your initiative to warn users about BNB gas charges. Currently, things are normal. But what if BNB did something crazy and BSC ended up at the same place as ETH?
Of course, there will be complaints when users are already familiar and used to something cheap, even if it increases a little bit, it is still noticeable. I think this time, BNB must be the same ETH a few years ago when ETH's gas fees were still cheap before become unbearable as today. Though right now, BNB's gas fees are still quite cheap compared to ETH, it is quite worrisome if this trend continue.
member
Activity: 1027
Merit: 11
August 30, 2021, 11:21:54 AM
#67
In my opinion, the Binance gas fee is not very high, although it is currently increasing slightly, but the value is still too low compared to the etherem gas fee, I don't think there is anything to worry about Binance transaction fees at this because it is still very affordable.
hero member
Activity: 2338
Merit: 953
Temporary forum vacation
August 30, 2021, 08:08:24 AM
#66
Remember when everyone was pointing at ETH and saying how cheap it was to transact compared to BTC? Oh wow,,, only a few cents and instant confirmation unlike BTC network.

Then ETH got popular and smart contracts got more expensive.

BNB/BSC is going down the same path.
sr. member
Activity: 475
Merit: 253
ARCS - A New World Token
August 30, 2021, 10:36:59 AM
#66
I am playing some BNB play2earn games like DPET, Cryptoblades, PVU, ZOON.. I also noticed that BNB's gas price is also bullish. I am afraid that BNB's normal gas fee of 0.001 might become 5 to 10usd each.

I think BNB needs to do some enhancement to its blockchain just like what ETH did.

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.
full member
Activity: 827
Merit: 100
August 30, 2021, 10:26:41 AM
#65
BNB gas costs are increasing, but still low compared to ethereum. I think this is comparable to the increase in BNB prices in the market. usually if the token price increases the gas price also increases and that happens to bitcoin, eth or BNB
legendary
Activity: 2268
Merit: 1655
To the Moon
August 30, 2021, 10:15:03 AM
#64
It was only a matter of time and when the Binance smart chain will be loaded in the same way as the Ethereum network, we will see the same transaction delays that can only be solved by increasing the gas fee. In addition, the cost of transactions in BSC was affected by an increase in the cost of BNB by more than 10 times.
sr. member
Activity: 1624
Merit: 339
https://duelbits.com/
August 30, 2021, 06:49:21 AM
#63
For now the cost of BNB gas is indeed increasing, maybe this is a result of the increase in the price of BNB which is currently getting higher so that it affects the cost of gas on the BSC network, as happened with ethereum in the past and this is almost similar to the BNB, and this is also very influential from users who are currently increasingly using the BSC network so that gas costs can increase, And we expect this increase to only happen for a moment and later it will return to normal.
sr. member
Activity: 2156
Merit: 323
August 30, 2021, 09:59:16 AM
#63
It's rare to hear people complaining about BNB gas fees. Binance Smart Chain was designed to release users who are dealing with high transaction fees and charge a fee as small as a peanut. Due to some reasons, I'm admiring your initiative to warn users about BNB gas charges. Currently, things are normal. But what if BNB did something crazy and BSC ended up at the same place as ETH?
hero member
Activity: 2128
Merit: 532
FREE passive income eBook @ tinyurl.com/PIA10
August 30, 2021, 09:46:54 AM
#62
Remember when everyone was pointing at ETH and saying how cheap it was to transact compared to BTC? Oh wow,,, only a few cents and instant confirmation unlike BTC network.

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.
hero member
Activity: 2828
Merit: 518
August 30, 2021, 08:38:17 AM
#61
I think the Binance Smart Chain (BSC) gas fee, is not that high to cause any concern or trouble, because I use it now it remains 5 Gwei and cost me $0.04 cents of BNB which is still manageable compare to Ethereum.

But it was slightly changed when you are using the Dex Like PancakeSwap and Etc. because you are burning gas in two transactions during the smart-contract execution which cost you $1.88 of BNB in both transactions, Which is still cheaper compared to Eth. I believe also that BNB prices contribute some slight increase of the BSC transaction fees especially when we are using DeX.
Yeah, 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.
full member
Activity: 1820
Merit: 107
August 30, 2021, 08:17:10 AM
#60
I think the Binance Smart Chain (BSC) gas fee, is not that high to cause any concern or trouble, because I use it now it remains 5 Gwei and cost me $0.04 cents of BNB which is still manageable compare to Ethereum.

But it was slightly changed when you are using the Dex Like PancakeSwap and Etc. because you are burning gas in two transactions during the smart-contract execution which cost you $1.88 of BNB in both transactions, Which is still cheaper compared to Eth. I believe also that BNB prices contribute some slight increase of the BSC transaction fees especially when we are using DeX.
jr. member
Activity: 1078
Merit: 2
I WANTED EVERYONE TO BE HAPPY IN LIFE
August 30, 2021, 07:34:19 AM
#59
It may because of the increasing supply of transaction not only bnb but also Other platforms are also seen increase in their transaction price it is definitely a big concern of increasing in the price of BNB as mostly network these day launch their project on Binance smart chain and if someone wanted to buy he need to pay a decent way but as compared to ETH network i think it is quite low as well IF ETH 2.0 is lauched i think all concern will be solved but still don't have any idea when it will launched hope it will launch soon
full member
Activity: 539
Merit: 100
BIB Exchange
August 30, 2021, 07:21:16 AM
#58
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.
Currently, BNB gas fees are quite high and seem to be affected by the increase of ETH or also by ETH gas fees that BNB is affected. Now that the price of BNB has increased, it is certain that an increase in BNB gas is inevitable.
sr. member
Activity: 1414
Merit: 255
August 30, 2021, 04:45:47 AM
#57
The reason for the increase in BNB gas is because more people are using it and it causes congestion but it's not a big problem because gas is still under $1, in contrast to ethereum which can reach $50 when the network is congested
legendary
Activity: 2114
Merit: 1150
https://bitcoincleanup.com/
August 30, 2021, 02:23:45 AM
#56
~ but the fees on BSC network has certainly increased. I'm paying over a dollar for some actions or exchanges now.
Really? On what exchanges? I have been very active with BSC in the past couple of weeks but I have never spent that much in any exchange/platforms. The most expensive was probably around $0.20

Standard gas price has remained at 5 gwei while gas limit is 250K for most platforms I used (still less than $1 even if gas limit is at 500K).

Maybe you can see this
https://bscscan.com/tx/0xd346503597adbac7fd3ce51f715f13b5b2568ec91b13bb3b162018298e2ec1d2
Take a look at how many routes that transaction went through. It's only natural that whoever made that trade had to pay for such high fee.

sometimes there are tokens that are intentionally made with high gas fee.
So that means it's not on the BSC network why transactions made are so high. Apart from the devs setting up a high minimum gas limit, it's also on how the users choose the best route for swapping/trading.
sr. member
Activity: 1876
Merit: 259
August 29, 2021, 11:33:24 PM
#55
~ but the fees on BSC network has certainly increased. I'm paying over a dollar for some actions or exchanges now.
Really? On what exchanges? I have been very active with BSC in the past couple of weeks but I have never spent that much in any exchange/platforms. The most expensive was probably around $0.20

Standard gas price has remained at 5 gwei while gas limit is 250K for most platforms I used (still less than $1 even if gas limit is at 500K).

Maybe you can see this
https://bscscan.com/tx/0xd346503597adbac7fd3ce51f715f13b5b2568ec91b13bb3b162018298e2ec1d2

sometimes there are tokens that are intentionally made with high gas fee.
legendary
Activity: 3346
Merit: 1352
Leading Crypto Sports Betting & Casino Platform
August 29, 2021, 11:16:50 PM
#54
The price might increase but they can't beat Ethereum's network with it and I think BSC has a chance to minimize the fees because they are better than Ethereum at all. Unlike the kardia chain where gas fees are almost zero I think it's time for them to change their perspective about their network because if they keep charging fees like that high, about 2-3 years from now, no one will use their network anymore since nowadays everyone can migrate to the lowest fee network if they really want to.

Nothing is permanent in the world of cryptocurrency. Even Bitcoin is not guaranteed of its no.1 spot. And with Ethereum, the no.2 place is even more shaky when compared to BTC. ETH hasn't faced any great competition for the last 2-3 years. Only now its competitors such as ADA and BNB are gaining global acceptance. There are two main issues with ETH now. The first one is very high transaction fee (although it has come down a bit in the recent weeks). The second one is low security offered by the ERC-20 chain. Both these issues are not being addressed by the developers in a time bound fashion.
legendary
Activity: 2114
Merit: 1150
https://bitcoincleanup.com/
August 29, 2021, 11:13:20 PM
#53
~ but the fees on BSC network has certainly increased. I'm paying over a dollar for some actions or exchanges now.
Really? On what exchanges? I have been very active with BSC in the past couple of weeks but I have never spent that much in any exchange/platforms. The most expensive was probably around $0.20

Standard gas price has remained at 5 gwei while gas limit is 250K for most platforms I used (still less than $1 even if gas limit is at 500K).
hero member
Activity: 2268
Merit: 588
You own the pen
August 29, 2021, 11:00:07 PM
#52
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 price might increase but they can't beat Ethereum's network with it and I think BSC has a chance to minimize the fees because they are better than Ethereum at all. Unlike the kardia chain where gas fees are almost zero I think it's time for them to change their perspective about their network because if they keep charging fees like that high, about 2-3 years from now, no one will use their network anymore since nowadays everyone can migrate to the lowest fee network if they really want to.
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