Topic: Gas Fee Of BNB Is Increasing - page 4. (Read 1753 times)
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.
Transaction fees are increasing when the activity is growing. The more people want to trade, the more you have to pay, so that your transaction is included in the block as soon as possible. Fortunately, BSC works on Proof-Of-Stake, so fees are still smaller than 1$ and even when daily trading volume on BSC is much higher than on Ethereum, Binance Smart Chain is still cheaper.
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.
It happens with many networks. Fee is cheap when price of coin is cheap and the network is not congested. Network usually becomes congested when price soars a lot and besides that there are increasing activities on network.Ethereum had some periods like that with ICO in 2017 and DeFi in 2020. Binance Smart Chain is facing congested issues with more demand from NFT marketplaces, GameFi projects and more.
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If by any chance BNB's fees become exorbitantly high, people have the choice to switch to other competing chains.
AVAX is a good chain to be alternative for ERC-20 and BEP-20 chains. 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.
True that. If you know what the ethereum gas fees are now you would know that what we get from BSC thus far is still very good though we know it might continue to increase over time due to many factors. I did a transaction recently over at uniswap and my gas fees were well over $100 and that almost drove me crazy like why was that coin on the ethereum network but I didn't have any choice and there are others I still cannot trade now over at the same uniswap cos of this same gas fee.
Yeah, BNB and ETH are pretty much substitutes at this point.
When ETH fees increase there will likely be a flood of people going over to the BNB network to do their transactions.
That then pushes fees up.
Hopefully both chains will come up with a scalability solution soon though.
When ETH fees increase there will likely be a flood of people going over to the BNB network to do their transactions.
That then pushes fees up.
Hopefully both chains will come up with a scalability solution soon though.
BNB's gas fees are increasing simply because the network is starting to experience congestion. ETH used to be cheap, but that's not the case anymore due to high network load. That's the problem when a blockchain network becomes too popular in the mainstream world. It's up to developers themselves to roll out network upgrades in order to keep the blockchain as cheap and fast as possible. If by any chance BNB's fees become exorbitantly high, people have the choice to switch to other competing chains. Polygon (MATIC) seems to be a good alternative with dirt-cheap fees and blazing-fast transaction confirmation times. Most of all, it's decentralized so it'll keep on running for years on end. With so many blockchain networks on the scene right now, high fees and slow confirmation times are no longer an issue. Just my opinion
All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.
First of all, BNB is rising on its own, so when it costs less than 300$ we pay less than 0.8$, but now it costs more than 600$ so price of transactions are higher respectively. Secondly, transaction fees depends on activity. When there are a lot of traders, you have to pay more so that you transaction will be added to block as soon as possible.
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.
Maybe what you mean by free is low cost. Because I see nothing is free of all blockchains. But why has the BSC blockchain transaction fee increased, because the price of BNB continues to increase. If we look at the cost based on BNB, it is still the same, namely 0.0005 BNB. Except sending any coins with BSC blockchain source to Trust Wallet, Tokocrypto, SafePal. Because all three platforms are the source of Binance or so-called internal wallet.
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.
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
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.
Well, as with ETH, BNB fee increases with both price of BNB and activity. The more projects on BSC, the bigger demand for gas is, thus increased fee's
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.
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.
The network needs a boost to process those flooded request, like what happened to ERC chain when there's a massive request the price of fees are increasing, for now the amount for BNB is still tolerable but if BNB skyrocket to where ETH is currently residing, it will be felt by traders and investors, especially those small time traders.
Maybe people already got that bnb team has confidence enough to give it a successful future. that's why most of erc20 tokens available themselfs on bsc blockchain & having their bep20 version too.even i always choice bsc blockchain Between those. that's why transactions are increasing incredibly on bsc blockchain & thats become reason of increasing fee but i still think bnb fee is normal as usual & will be stay friend in future
Very possible, CZ understands what's the problem with ERC and he will avoid that to happen with BSC, we might see more updates in regard to scaling and if how BSC will push forward not to have the same concern with ERC. The competition really showing good sign since not just these two coins but also other are performing well.
For now, we should enjoy the benefits coming from projects that being introduced using BSC, it's far cheaper and yet
good deal to invest your money, don't forget to DYOR for a safer investment.
BNB is repeating ethereum's gas rally I think. The numbers are growing there and the blockchain becomes overdosed because all of these meme coins and defi projects...
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.
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.
The Binance blockchain transaction fees are not free, they are just cheaper than the Ethereum blockchain transaction fees. BSC blockchain transactions only cost 5 to 7 gwei, or the equivalent of 0.0001. However, if we use the Binance Chain extension wallet, the fee that must be paid is 0.001 BNB for token transactions. That is, the fee is equivalent to the cost of the previous Ethereum blockchain.
Everything comes at a cost. Fees are only there to help prevent transaction spamming on the Blockchain. The higher the network load, the higher the fees will be. Despite gas fees rising in BSC, it's still a lot cheaper to use than ETH. Developers are going to need to improve the blockchain's transaction capacity in order to keep fees as low as possible. With so many alternative blockchain networks available today, high gas fees and slow transaction confirmation times are no longer an issue. Crypto is all about usability these days. As long as it's useful, nothing else matters. Just my thoughts
Maybe people already got that bnb team has confidence enough to give it a successful future. that's why most of erc20 tokens available themselfs on bsc blockchain & having their bep20 version too.even i always choice bsc blockchain Between those. that's why transactions are increasing incredibly on bsc blockchain & thats become reason of increasing fee but i still think bnb fee is normal as usual & will be stay friend in future
I'm afraid that BNB gas fees would turn out like ethereum gas fees. Several investors and traders and even new projects change their flatforms from ethereum network into binance smart chain just to adjust from ethereum's network transaction fees. It's sad because whenever a flatform become famous and had growth, it's gas fees also increases. Maybe there would be a solution for this in the near future.
bnb is definitely not threatened in the near future, transactions today cost a couple of dollars.We haven't seen any big price spikes lately, so there's no need to be afraid.As long as there is competition in this segment and other projects will offer good conditions, so everything will be fine.And the priest of the same Ethereum, the price for transactions is not normal, but the developers are satisfied with everything and they do not want to solve this problem.
If you don't get it then you know too less about crypto coins, the more a coin has higher value the more it's gas fee will increase, it's same thing with Tron network, if this Tron enters 100$ in future the gas fee will significantly increase as well
The increase in the BNB gas fee is of course due to the large number of transactions, and in my opinion it is still cheap compared to ethereum which is already unreasonable, the bnb gas fee is still under $1 compared to ETH which a few hours ago I sent tokens for about $36.
I think that transaction fees up to $ 2 are normal. You can use not only bsc, you can find networks and cheaper. With the same convenience.
The increase in the BNB gas fee is of course due to the large number of transactions, and in my opinion it is still cheap compared to ethereum which is already unreasonable, the bnb gas fee is still under $1 compared to ETH which a few hours ago I sent tokens for about $36.
I'm afraid that BNB gas fees would turn out like ethereum gas fees. Several investors and traders and even new projects change their flatforms from ethereum network into binance smart chain just to adjust from ethereum's network transaction fees. It's sad because whenever a flatform become famous and had growth, it's gas fees also increases. Maybe there would be a solution for this in the near future.
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 is centralized but it has a big community and its ecosystem is growing exponentially. The real issue with eth as well as with BNB is that neither of them solves the scalability problem and as such the tendency will be for BNB to have an increase in the fees cost while its ecosystem and project demand is growing
Yes, and if BNB continues to grow, so does the gas fee, but gas fees have been an issue from different coins as well, and to compare these gas fees, BNB is much better than ETH's gas fee.
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