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Topic: Gas Fee Of BNB Is Increasing - page 8. (Read 1753 times)

legendary
Activity: 2940
Merit: 1050
Leading Crypto Sports Betting & Casino Platform
September 09, 2021, 03:47:21 PM
Still less expensive than Ethereum yet a put off when you are attempting to make a few dollars benefit to a great extent. Polygon is as yet modest. I figured BSC won't encounter this equivalent issue with ETH organization, ideally a superior arrangement will be out to address this one since BSC still one of the least expensive organization to manage. Later on it is conceivable, however I don't imagine that there will be costly exchanges. What's going on now with Ethereum is the franticness of the commissions are just extravagant.

As an alternative that also working with the same functions, BSC still far from the fees of ETH and yet there are more traders and investors now that already managing their investment using this system.

With those changes with the gas fee, still tolerable if you have fewer assets it's just a few pennies to spare unlike with ETH which you need decent amount of investment to make sure that paying the gas fee is acceptable if you'll be compensated with the trade that you'll going to execute, most of the time if you are small player the fee really hurts you.
member
Activity: 775
Merit: 11
September 09, 2021, 03:10:46 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.

From the start the BNB blockchain transaction fees were not free. It's just lower than Ethereum blockchain transaction fees. However I don't know which platform you are using so argue that the BNB blockchain transaction fee is free. The increase in BNB transaction fees increases with the increase in BNB prices. As with previous Ethereum blockchain transaction fees.
other factors are usually caused by transaction density, I mean the more people make transactions on the coin (BSC) or on the BSC network can affect the transaction fees as well. but for me personally gas cost in BSC is still cheap compared to Ethereum Network. if you are interested then you can use the solana blockchain, matic or fanthom. gas cost on their platform is also cheap
sr. member
Activity: 826
Merit: 252
September 09, 2021, 02:35:44 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.

From the start the BNB blockchain transaction fees were not free. It's just lower than Ethereum blockchain transaction fees. However I don't know which platform you are using so argue that the BNB blockchain transaction fee is free. The increase in BNB transaction fees increases with the increase in BNB prices. As with previous Ethereum blockchain transaction fees.
sr. member
Activity: 980
Merit: 255
HALA MADRID
September 09, 2021, 12:34:46 PM
Still less expensive than Ethereum yet a put off when you are attempting to make a few dollars benefit to a great extent. Polygon is as yet modest. I figured BSC won't encounter this equivalent issue with ETH organization, ideally a superior arrangement will be out to address this one since BSC still one of the least expensive organization to manage. Later on it is conceivable, however I don't imagine that there will be costly exchanges. What's going on now with Ethereum is the franticness of the commissions are just extravagant.
Ethereum most expensive gas price fees when swap coin on uniswap or sent coin to exchange wallet, I see last months many bounty project was finish change payment way from erc20 to be bsc, they upgrade contract address from erc to be bsc and make easy for trader or investor when selling coin without take care how most expensive fees pay, I agree if any bounty project when faced problem with gas fees better pay on usdt bsc than waiting gas lower fees.
member
Activity: 714
Merit: 30
★Bitvest.io★ Play Plinko or Invest!
September 09, 2021, 12:14:38 PM
Seriously, this issue of Gass fee increment is really complicated, Binance smart chain(BSC) was really preferred to Ethereum Gass fee. Because of Ethereum Gass fee many tokens were left in the Ethereum blockchain. I just noticed the Gass fee increment in BSC as I was charged more than what I was been charged before, although it is still far better than Ethereum Gass fee. I hope this Gass fee will surely reduced.
hero member
Activity: 1260
Merit: 504
September 09, 2021, 04:09:49 AM
Still less expensive than Ethereum yet a put off when you are attempting to make a few dollars benefit to a great extent. Polygon is as yet modest. I figured BSC won't encounter this equivalent issue with ETH organization, ideally a superior arrangement will be out to address this one since BSC still one of the least expensive organization to manage. Later on it is conceivable, however I don't imagine that there will be costly exchanges. What's going on now with Ethereum is the franticness of the commissions are just extravagant.
hero member
Activity: 1470
Merit: 755
September 09, 2021, 03:38:45 AM
It's not meant to support the increase in the cost of BNB gas, but from an economic perspective it is in the reasonable category. In my opinion, we don't always use something good for free and I think that if the cost of BNB gas is increasing day by day, it will not be a problem as long as it is still in a reasonable stage.
sr. member
Activity: 1820
Merit: 256
Vave.com - Crypto Casino
September 09, 2021, 03:19:21 AM
I also think the same, but the increase in bnb gas will be smaller than ethereum, and the transaction space of bnb blocks more than ethereum so it won't go up very high like what's happening on ethereum right now. In fact, that many ethereum communities and erc20 token developers are starting to switch to bep20, but that doesn't really have an impact on transaction prices.
sr. member
Activity: 1428
Merit: 250
September 08, 2021, 08:26:41 PM
The term gas limit refers to the maximum price a cryptocurrency user is willing to pay when sending a transaction, or performing a smart contract function, in the Ethereum blockchain. ... If the gas limit and gas price (Gwei) are set to a higher level, the operation will occur much faster.
sr. member
Activity: 1120
Merit: 250
Trident Protocol | Simple «buy-hold-earn» system!
September 06, 2021, 12:03:33 AM
The number of users increases, thus the number of transactions is constantly growing. So, the blockchain becomes overloaded and the fees have to grow in this situation.
this seems to be the most realistic, users are increasing their transaction traffic, and it is natural for BNB to experience an increase in gas fees. but BNB's gas fee is still affordable and still lower than ethereum.
sr. member
Activity: 504
Merit: 250
September 08, 2021, 07:55:04 PM
Look, people were severely critical of bitcoin's transaction fees previously.

But look at BTC now - its transaction fees are literally 1-5 satoshi per byte even for the most congested periods of this month and last month, whilst ETH and BNB are climbing in gas fees like crazy.

It goes to show that one should never jump to conclusions when it comes to the scalability of products. I'm not saying that ETH/BNB aren't good. Just that things change, as they have right now.
newbie
Activity: 39
Merit: 0
September 08, 2021, 07:49:38 PM
The increase in the price of BNB will also cause the cost of transactions on the BEP20 platform to increase rapidly, initially ETH fees are also very cheap until the price of ETH rises too high. Therefore, the value of a coin will determine the value of transactions on the platform.
hero member
Activity: 1344
Merit: 502
September 08, 2021, 12:35:51 PM
In some cases, the gas fee of BNB is increasing. As you all know that if you increase slippage then the gas fee of BNB automatically increases. So keep your slippage low, then the fees for BNB will be low. There will be fewer fees for BNB.
sr. member
Activity: 1190
Merit: 253
September 08, 2021, 11:36:40 AM
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.

I think the more community increase to use the BSC platform, perhaps no doubt in the long run it will be like ETH for sure. But I am hoping it won't happen, Besides, Binance management or team anyway is doing everything for the better and long term to all their bnb users. But for now, their increasing is not high compared to ETH, that is a far distance of course between the BNB.
sr. member
Activity: 980
Merit: 255
HALA MADRID
September 08, 2021, 07:27:41 AM
The reason for the increased transaction costs is the increased demand for transactions and the price of BNB. Despite the price increase, it is still lower than the cost on Ethereum. Right now, the strong bear market of the past 12 hours has made the transaction costs on Ethereum too high. $500 per smart contract call is too high, it's ridiculous.
If BNB price back to lower maybe price of gas fee will dump and I like with BNB network fee still possible for us to sent and swap on pancake with lower value. Maybe with few cent BNB or BSC we still sell and sent coin bsc to other address not ability if erc20 network coin, you not ability to sent without have $10 that very slowly speed transaction for erc20 network coins.
full member
Activity: 1470
Merit: 105
👉bit.ly/3QXp3oh |🔥Launchpad on TON
September 05, 2021, 04:15:44 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.

because the price of BNB has increased very high, so that it makes the gas fees from BSC also increase, but I think the gas fees from BSC are still quite cheap when compared to gas fees from Ethereum at this time, therefore I prefer to invest in cryptocurrencies whose projects use blockchain from BSC than Ethereum (due to lower transaction costs).
full member
Activity: 602
Merit: 102
Trident Protocol | Simple «buy-hold-earn» system!
September 08, 2021, 01:35:08 AM
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.

Basically the two transactions also experienced an increase in gas from the beginning, but not in accordance with the tariff price, the increase in demand did not reduce the transaction cost of gas, if demand increases, it is a sign that they are increasingly being favored and become an alternative in the future, but the most important thing now is that BNB must be able to overcome congestion to make it easier for people to transact, if many projects start switching to the BSC network, this should be their concern in order to overcome it, to make it easier for people to make transactions in the future.
sr. member
Activity: 1232
Merit: 263
SmartFi - EARN, LEND & TRADE
September 07, 2021, 11:21:18 PM
The reason for the increased transaction costs is the increased demand for transactions and the price of BNB. Despite the price increase, it is still lower than the cost on Ethereum. Right now, the strong bear market of the past 12 hours has made the transaction costs on Ethereum too high. $500 per smart contract call is too high, it's ridiculous.
full member
Activity: 658
Merit: 103
September 07, 2021, 01:16:15 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.
As the network grows in popularity, various projects emerges and network traffic is occurring. I think this rise in fees are due to many transaction being utilized specially that there are many DeFi in BSC right now that uses smart contacts. These contribute to a higher fees but still super cheap compare to its biggest rival Ethereum network. I could tell that BSC's fees are much alike with Ethereum in its early stage where it was less than a $ then DeFi sector occurs added by increase in Eth price.
hero member
Activity: 1260
Merit: 510
September 07, 2021, 10:42:56 AM
the more users on one network, the more likely the costs will increase because they want to be fast
as well as ETH and BNB many users so that the costs incurred increase indirectly
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