Gas Fee Of BNB Is Increasing - page 8.

magnum cyber

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Quote from: nicolas1979 on September 09, 2021, 01:35:44 PM

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.

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

nicolas1979

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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.

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.

rmhuntley

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Quote from: Benefactor on September 09, 2021, 03:09:49 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.

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.

Anguwa

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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.

Benefactor

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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.

aylabadia05

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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.

indo1

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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.

Rahman11

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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.

sikke

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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.

thayes09

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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.

Hobo66

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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.

cryp24x

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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.

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.

rmhuntley

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Quote from: ilovealtcoins on September 07, 2021, 10:21:18 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.

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.

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Quote from: Twinkledoe on September 03, 2021, 03:04:29 PM

Quote from: Devifajarina on September 03, 2021, 02:57:27 PM

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.

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.

ilovealtcoins

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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.

Koro-Sensei

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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.

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.

marilynmanson21

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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

poodle63

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Binance transaction fees are currently increasing, maybe because binance prices are also getting higher, but I think binance gas fees are still very affordable, when compared to etherem fees, I personally don't feel panic about this situation because I think these fees are still very normal.

Depend with binance coin price, if BNB coin up gas fees of bnb is creasing but when bnb coin down gas will dump, I think still not expensive fees pay by trader because still under $0.2 for each transaction when sell coin on pancake swap. For ethereum now raise most expensive and you need more than 40$ for fees if swap on uniswap, still lucky we have bnb network for selling coin or sent to other wallet.

The fee is still affordable compared to Ethereum but if BNB keep burning its coin and reducing its total supply I think it can make the price of gas near to Ethereum in the future because the price of BNB will also increase, maybe by then BSC will already found a solution, if not BSC will have the chance having the same fate as ETH because the fee getting too high and people choose to leave it.
But for BNB fee to reach the same price as ETH isn't likely because BNB was created to be cheaper than ETH maybe this increase in fee is only for a moment.

Koutami

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Quote from: Cornia on September 06, 2021, 01:13:21 PM

Increasing demand of BSC network and many projects to launch in this network, network fee has increased slightly. However, this additional fee is negligible compared to other networks. So I don't think it's time to worry about fees. Instead I would like to thank CZ for creating BSC.

If compared to Ethereum yes its a better option, but for compared to other networks its still a bit expensive for massive transactions.

cafee_orange

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I think it's only natural for Bnb gas costs to continue to increase, this may be due to the density of transactions made through the BSC Platform, I think the reason for the increase in Bnb transaction fees is like that. As for situations like this the blockchain becomes overloaded and transaction fees continue to spike

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