Gas Fee Of BNB Is Increasing - page 3.

kapalmabur

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Quote from: Kodok Bencot on November 27, 2021, 03:03:28 AM

Quote from: S4VV4S on November 26, 2021, 10:12:56 PM

I don't care about how much fees need for swap BSC coin but really angry when BSC network always congested when sending or withdrawing coin, many time exchange like LBANK, HOTBIT and all exchange support using BSC coin withdraw or deposit delay. This week almost three time BSC network congested and delay for sending and exactly when swap coin on pancake we need two or five minutes for success if price not change yet.

The number of users and transactions that continue to increase makes the BSC network very busy, it's been a few days when I swapped on Pancake then the results were very slow and I had to repeat it again so that it made a double fee when I checked on bscscan, if gas costs go up it should make the speed stable because they get more and if this problem can't be solved then there will be many problems in the future with BSC.

This seems to be an overload problem that occurs in the BSC,
seeing what you have experienced, of course it is very unfortunate that it happened and it is very likely that you are not the only one who has experienced something like that,
For BSC, of course, this is homework that must be completed immediately if users don't want to be left behind

Kodok Bencot

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Quote from: S4VV4S on November 26, 2021, 10:12:56 PM

I don't care about how much fees need for swap BSC coin but really angry when BSC network always congested when sending or withdrawing coin, many time exchange like LBANK, HOTBIT and all exchange support using BSC coin withdraw or deposit delay. This week almost three time BSC network congested and delay for sending and exactly when swap coin on pancake we need two or five minutes for success if price not change yet.

The number of users and transactions that continue to increase makes the BSC network very busy, it's been a few days when I swapped on Pancake then the results were very slow and I had to repeat it again so that it made a double fee when I checked on bscscan, if gas costs go up it should make the speed stable because they get more and if this problem can't be solved then there will be many problems in the future with BSC.

yohananaomi

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Quote from: S4VV4S on November 26, 2021, 10:12:56 PM

I don't care about how much fees need for swap BSC coin but really angry when BSC network always congested when sending or withdrawing coin, many time exchange like LBANK, HOTBIT and all exchange support using BSC coin withdraw or deposit delay. This week almost three time BSC network congested and delay for sending and exactly when swap coin on pancake we need two or five minutes for success if price not change yet.

Of course what you are experiencing is indeed very uncomfortable, because sometimes time runs out just waiting for the transaction to finish and moreover you often make price changes so that it can be finished quickly. is this because indeed all swaps have happened like this ? it seems that there will always be interference when doing a swap and the kinds of interference that are obtained. I also often experience like you but I try to just be patient so that it is finished, most often what I experience is that I can't do transactions and have to repeat.

S4VV4S

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I don't care about how much fees need for swap BSC coin but really angry when BSC network always congested when sending or withdrawing coin, many time exchange like LBANK, HOTBIT and all exchange support using BSC coin withdraw or deposit delay. This week almost three time BSC network congested and delay for sending and exactly when swap coin on pancake we need two or five minutes for success if price not change yet.

Pamadar

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Quote from: Mehedi72 on November 26, 2021, 01:34:24 PM

It will be really a complicated matter for future! Cause when ether price was around 600$ where bnb is standing now, , ether transactions fee was less a $1. after it start getting popular, it was getting higher by its value and now it Change upto $50 per transactions! So i don’t know if bnb raise such price where eth is Standing now, what will be happened! They'll able to solve it or suffer as like ether?

Or maybe CZ anticipates that and has a good way to prevent that from happening,

We don't know what are the plans behind this asset. The only thing now is we are experiencing growth and the transaction
fees base from the fiat value is increasing.

It's needed to address the soonest, transaction fees is the one who leads investors to find alternative asset, and also developers
are kept on finding suitable chain to use for both benefits of their project and their investors.

Having lesser fees is what attracts investors, especially when the coin has solid fundamentals.

Mehedi72

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It will be really a complicated matter for future! Cause when ether price was around 600$ where bnb is standing now, , ether transactions fee was less a $1. after it start getting popular, it was getting higher by its value and now it Change upto $50 per transactions! So i don’t know if bnb raise such price where eth is Standing now, what will be happened! They'll able to solve it or suffer as like ether?

Mkmanik

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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.

BNB gas fee is still cheap if you compare it with another blockchain. There are many reasons available for increasing the gas fee. among them, more and more people nowadays use Binance Smartcahin. So there is good demand for BNB and the price is also increasing for Binance coin. In the future, the gas fee will increase more there is no doubt. Most people like to use Binance smart chain for their projects and it's the main reason for the gas price increase. But still, I am happy with it, BNB smart chain is very fast for making a transaction and the gas fee is also low.

chakhigh

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I see BNB still cheaper than Eth in terms of Gas fees. But, who knows what is next! The crypto space has unlimited possibilities, and more projects will offer convenient solutions for this challenge. Defi is the way to go and projects like Avalanche will grow faster, because of their cheap/low transaction fees.

Newlifebtc

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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.

BNB was doing you nice some months back but now BNB is nothing to read off, ethereum gas increase doesn't means that it will work long side with BNB, any projects have it time to increase even to a point that promoters it will come unexpected to them, we are exaggerating of BNB.

MadeMen

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I'm of the opinion that since more people are moving to the binance smart chain, the blockchain is getting congested and that explains why the gas fee seems to be on the increase. But when compared to the ethereum blockchain, the binance smart chain is quite cheaper. I only wish we could have more projects that could be more innovative and bring cheaper transaction fees to the industry.

kojektea

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Because the number of transactions every time continues to increase, the gas in BNB will continue to rise. Gas is also influenced by the price of BNB which again reached ath some time ago. In the end, it will be the same ethereum and bnb with high gas costs. Because it has a similar chain I'm sure this will happen.

ardydyon

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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.

Currently, the cost of gas is increasing, but it is still cheaper than the cost of eth gas.
I think they will still use bnb because gas costs are still cheap even though there has been an increase in prices.
the increase in bnb withdrawals from the exchange has also increased, previously the minimum withdrawal was 0.01 bnb but now it is 0.02bnb and previously had touched the price
0.5 bnb for minimum withdrawal.
I think this happened because of the increase in the price of the bnb, the price of the bnb went up followed by the increase in gas costs and also the minimum withdrawal also increased.

Snappycoco

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I often transaski with BNB to thresh tokens or trade on Pancake, for token delivery fees of 10 cents and for swaps on Pancakes between 15 to 30 cents, I think BNB is still cheap and the most important thing is the transaction speed is still good.

I did a transaction with pcs and it was estimated .70$ which is almost a dollar already added by unlocking the token contract to sell or buy. However, the main reason for this is that bsc is now being used by many projects and that makes a congestion in the blockchain. A congestion in the blockchain means heavy traffic and by that, gas should be higher. Simple as that. Nonetheless, its price is reasonably good compared to its biggest rival Eth but quite higher compared to other Blockchain like Matic.

UserU

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Quote from: Luffygroove on November 15, 2021, 12:37:25 AM

Ethereum gas fees were also cheap back then, but look at them now it's hilariously expensive. It's because of so many people using it, so many projects built their projects above ethereum and the popularity of DeFi. Probably, it's what exactly happen with BSC now. Many people and developers switch off to BSC because of the crazy fee of ethereum. I think the Binance NFT marketplace also contributed to this.

And with Binance being one of the top exchanges, no surprise.

On the other hand, Bitcoin price is crazy high but at least the fees are more tolerable now.

shawon01

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What I saw was that the difference between bnb and itharium is that bnb has less gas free and itharium has more gas free.
So I think bnb is more popular than itharium bnb is used by all people

LUCKMCFLY

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Quote from: Abiky on November 12, 2021, 08:23:27 PM

Quote from: magneto on November 10, 2021, 04:15:00 PM

Yeah, BNB and ETH are pretty much substitutes at this point.

When ETH fees increase there will likely be a flood of people going over to the BNB network to do their transactions.

That then pushes fees up.

Hopefully both chains will come up with a scalability solution soon though.

BNB's gas fees are increasing simply because the network is starting to experience congestion. ETH used to be cheap, but that's not the case anymore due to high network load. That's the problem when a blockchain network becomes too popular in the mainstream world. It's up to developers themselves to roll out network upgrades in order to keep the blockchain as cheap and fast as possible. If by any chance BNB's fees become exorbitantly high, people have the choice to switch to other competing chains. Polygon (MATIC) seems to be a good alternative with dirt-cheap fees and blazing-fast transaction confirmation times. Most of all, it's decentralized so it'll keep on running for years on end. With so many blockchain networks on the scene right now, high fees and slow confirmation times are no longer an issue. Just my opinion

I think that the answer to the question in the thread is already answered, I think the same and for me that is the reason, in fact the congestion will be increasing, and I have seen several already complain about the fee they have, in fact on the network ERC-20 the problems that there are of the fees is even more impressive, recently I had to pay a fee of more than 150USD, which for me represents too much money, for me the network that will be most successful in 2022 will be Polygon, because all NFT game projects that are focused on metaverses are in that network, and for now it is the network that has the best fee prices.

Luffygroove

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Ethereum gas fees were also cheap back then, but look at them now it's hilariously expensive. It's because of so many people using it, so many projects built their projects above ethereum and the popularity of DeFi. Probably, it's what exactly happen with BSC now. Many people and developers switch off to BSC because of the crazy fee of ethereum. I think the Binance NFT marketplace also contributed to this.

StLucifer

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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.
I hope it does not keep on increasing and become like ethereum one day.

airdata

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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.

Maximum people use Bsc Chain for transaction, swaping and also nowadays maximum project use bsc network due to high eth transaction fees.
But if you compare bsc transaction with Eth then bsc is always best than Eth blockchain. Yesterday i check eth fee that was $150. But it is true that now Bsc network fees is higher than his past fees.

Pamadar

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Quote from: rahmad2nd on November 13, 2021, 02:04:31 PM

Most active transaction on Pancake swap and every day I made more than hundred time for swap or selling coin on pancake, before BNB raise higher price just take under 0.3$ each swap but now I must out almost $1 for one swap coin, you know almost 30$ every day of my BSC coin have gone for fees only, but I hope BSC have new rule and give lower fees transaction when swap coin on pancake swap or other BSC dex exchange platform.

Same reason with ETH the value of BNB converted to fiat is really increasing,

and with many transactions that being process not only inside pancake but everything around
BSC chain affects the network.

Most of both traders and investors are hoping that Binance team will find suitable solutions to
avoid repeating the same issue like what we experienced with ETH.

Hopefully, they will come out with good adjustments in terms of transaction fee.

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