one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual. i thought maybe its because of the congestion but then i tried like two to three times and its same. then i noticed the problem of high fee on eth chain is begining to appear on bsc chain. i feel this is too early despite the many hype that bsc chain carries with its enormous growth in a short time. does this mean the high transaction fee solution still lies on eth chain maybe when its 2.0 is launched. ? lets me hear from your views about this.
I don't think bsc gas fees are getting higher, I swapped on it about 2days ago and from my point the transaction fee charged wasn't high at all, but I guess you feel it's high since the price of bnb keeps going up and ts common with every cryptocurrencies btc, eth and btc, but I believe the bsc gas fees will never be as high as the ETH gas fees, and I don't know what happened yesterday the gas fee for eth dropped extremely low $3< same thing as today, its kind of strange for the gas fees to drop all of a sudden when ETH price is still pumping, for now even the average man can make transactions with eth, I just hope it will remain that way. 
Topic: high swap fee on dex on bsc chain. (Read 203 times)
one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual. i thought maybe its because of the congestion but then i tried like two to three times and its same. then i noticed the problem of high fee on eth chain is begining to appear on bsc chain. i feel this is too early despite the many hype that bsc chain carries with its enormous growth in a short time. does this mean the high transaction fee solution still lies on eth chain maybe when its 2.0 is launched. ? lets me hear from your views about this.
I was surprised to see that ETH gas fees were slashed by a huge discount yesterday. That was more than 50% drop in gas prices and that's a good thing. Smart chain selling point has always been the cheap tx fees that users pay to participate in this defi protocols. I've used BSC between yesterday and today and the gas fees are only "slightly" higher than what it was in the early stages. Since ETH gas fees can still drop to considerable levels without ETH 2.0, there's no telling how cheap the fees would be when it finally gets actively used. Smart chain helped with defi and NFTs by providing fast and cheap tx. I just wonder if the network would still be relevant when eth 2.0 fixes that.
This problem was expected from the beginning, the BSC network was new and good because it is in its infancy and it does not have much congestion and it was expected that problems will start to appear when the number of tokens operating on the network becomes very large and transactions start to increase and with the passage of time we will see exactly the same problem High fees and delayed transactions.
I think that going to Ethereum 2 will solve this problem and Binance should also start looking for solutions early now before the problem gets too severe.
I think that going to Ethereum 2 will solve this problem and Binance should also start looking for solutions early now before the problem gets too severe.
one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual. i thought maybe its because of the congestion but then i tried like two to three times and its same. then i noticed the problem of high fee on eth chain is begining to appear on bsc chain. i feel this is too early despite the many hype that bsc chain carries with its enormous growth in a short time. does this mean the high transaction fee solution still lies on eth chain maybe when its 2.0 is launched. ? lets me hear from your views about this.
No, not really, the transaction fee on BSC does not become higher than usual, even when the network is congested, it is always stable. However, the price of BNB is getting higher and higher, I think it is the reason why you feel that transaction fees are still high. But it is inevitable that as a currency becomes more valuable, its transaction fees become more terrible. Both BTC and ETH have been. Nothing really is surprising.
I still used bsc dex today and the swap fees are still very good in my opinion. I think you may feel like its vetting more expensive due to the increase in price of BNB itself which is going well in the markets presently.
Besides that i think BNB is still a lot more better than ETH as regards transaction fees
Besides that i think BNB is still a lot more better than ETH as regards transaction fees
hmm i also think the same because usage or transactions will continue to increase and make the network a little slower and more expensive.
but if the bsc price will continue to rise, it will certainly continue to affect the price and they will carry out maintenance or updates to fix the payment for each transaction.
That's right, you got into the problem correctly. Binance's rise is what makes him feel that BNB's transaction fees go up. Any currency too, once it is used a lot and its price increases drastically, its transaction fees will increase very quickly. I am thinking of similar things to BNB's fork in the future. Maybe. but if the bsc price will continue to rise, it will certainly continue to affect the price and they will carry out maintenance or updates to fix the payment for each transaction.
If you shared with us how much swap fee you need to swap on BSC DEX, it would be helpful for us to understand how much you mean by high swap fee. I don't think BSC will make the same mistake as ETH network. However, I do not think the swap fee of BSC network is high yet.
I did two swaps on BSC DEX yesterday. Once deducted as transaction cost $0.51 and other times as $0.49 for transaction cost. Where uniswap is deducting $30-35 as transaction cost. I think BSC DEX's transaction cost is still much less than ETH platform. I don't know why this happened in your case.
no, I didn't have this kind of problem. Swap fees on BSC are still relatively cheap compared to the ethereum network. bsc doesn't have the same problems as ethereum. the increase in fees may be due to the increase in the price of the bnb.
The thing about transaction fee depends on two things:
1. If the price of the token was low and the price has increased significantly like Ethereum and BNB tokens it is going to reflect on price you pay for transaction, the amount you paid when BNB was $42 will be different from the amount you are paying now.
2. The second is gas war, if there is a demand for gas on the network and people want their transaction to go out first then it would result in increase in amount you pay for transaction fee
1. If the price of the token was low and the price has increased significantly like Ethereum and BNB tokens it is going to reflect on price you pay for transaction, the amount you paid when BNB was $42 will be different from the amount you are paying now.
2. The second is gas war, if there is a demand for gas on the network and people want their transaction to go out first then it would result in increase in amount you pay for transaction fee
one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual. i thought maybe its because of the congestion but then i tried like two to three times and its same. then i noticed the problem of high fee on eth chain is begining to appear on bsc chain. i feel this is too early despite the many hype that bsc chain carries with its enormous growth in a short time. does this mean the high transaction fee solution still lies on eth chain maybe when its 2.0 is launched. ? lets me hear from your views about this.
This shows significant changes their coin also soar higher, same with eth journey when it started to accumulate a rapid increase. Don't be intimidated with the recent changes, because it's destined to happen and there no control over it. I don't see any future with 2.0 laughing, maybe I'll just wait for the outcome and just be silent about speculations.
you can wait for the next fee update. pretty sure cz and his team will lower the fees again since eth starts becoming cheaper. it's not that hard for them, since bsc is not that decentralized. whether that's good or bad is another discussion.
It will not happen until the BSC community will try to create a proposal. I guess CZ was no expecting if the demand will be so huge like this time. That means BSC will need another hardfork for sure. Imagine if the price of BSC can surpass 1k very soon and the tx fees will be the same like ethereum in the past.
BSC is not scalable enough like TRON.
the higher the binance price, the automatic gas price when trading on dex will also be even greater, this is common in crypto, regarding the last few days of frequent network congestion I think now it has been fixed with Pancakeswap v2. but don't expect an airdrop like dex ETH 
you can wait for the next fee update. pretty sure cz and his team will lower the fees again since eth starts becoming cheaper. it's not that hard for them, since bsc is not that decentralized. whether that's good or bad is another discussion.
I agree with you that it is not hard for the binance smart chain to regulate the transaction fees because it was raised unnnecessarily high to benefit from users usage of the chain; how many users does binance smart chain has that they are inflating fees already? I say the high swap fees will continue on the dexes on bsc chain.
you can wait for the next fee update. pretty sure cz and his team will lower the fees again since eth starts becoming cheaper. it's not that hard for them, since bsc is not that decentralized. whether that's good or bad is another discussion.
BSC is a chain capable of implementing the smart contract, DEFI with low cost, high speed. The current fee is around $ 0.2 per transaction. Transaction costs are fixed based on ratios relative to ETH rather than dollars. Previously when BNB was worth $ 70, the cost per transaction was only around $ 0.021.
It can be seen that if BNB has a higher value, it also means that transaction costs continue to increase. That's acceptable since the transaction costs on Ethereum are much higher than on BSC.
It can be seen that if BNB has a higher value, it also means that transaction costs continue to increase. That's acceptable since the transaction costs on Ethereum are much higher than on BSC.
Doubt that, the fee still looks normal to me and from your post it seems you think that BSC is having the same network congestion problem like eth I very much doubt that as well, I mean their nodes are centralized while having significantly higher transaction per second than the current ETH and the transactions volume of BSC more or less the same as ETH though i know the current hype of generic swap platform being released everyday could burdens the blockchain but it's not that much problem for bsc, therefore network congestion caused by too much transaction like what ETH blockchain experienced isn't likely. just try to check the average transaction fee in bscscan you'll find out that the fee required still normal.
one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual. i thought maybe its because of the congestion but then i tried like two to three times and its same. then i noticed the problem of high fee on eth chain is begining to appear on bsc chain. i feel this is too early despite the many hype that bsc chain carries with its enormous growth in a short time. does this mean the high transaction fee solution still lies on eth chain maybe when its 2.0 is launched. ? lets me hear from your views about this.
No, not really, the transaction fee on BSC does not become higher than usual, even when the network is congested, it is always stable. However, the price of BNB is getting higher and higher, I think it is the reason why you feel that transaction fees are still high. But it is inevitable that as a currency becomes more valuable, its transaction fees become more terrible. Both BTC and ETH have been. Nothing really is surprising.
one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual.
BSC does it functions very well to prevent or deal with high waiting transactions. I don't see any report on network congestion on Binance Smart Chain so far. I admit that I don't like Changpeng Zao and Binance but they create an excellent chain and as users, we get benefit from that one.General facts about transaction fee on any network
- With same capacity of network, chain, the more transactions, the higher fee will be.
- With same fee rate, in BTC, satoshi, Ethereum, Gwei, BNB, the higher a coin price is, the higher the fee will be. Because transaction fee is calculated by fee rate multiplies coin price together with transaction size.
- Network, protocol can not reduce transaction fee by reduce coin price.
In the past months, BNB rose a lot and its price growth does affect transaction fee on Binance Smart Chain.
one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual. i thought maybe its because of the congestion but then i tried like two to three times and its same. then i noticed the problem of high fee on eth chain is begining to appear on bsc chain. i feel this is too early despite the many hype that bsc chain carries with its enormous growth in a short time. does this mean the high transaction fee solution still lies on eth chain maybe when its 2.0 is launched. ? lets me hear from your views about this.
Are you serious ? I saw on gas tracker etherscan website, the gas fee is very low friend.
what did coin did you try to swap ? and what wallet did you use for swap ?
I was using trust wallet and done some swap between bsc bep20 token to bep2 token with low fee.
one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual. i thought maybe its because of the congestion but then i tried like two to three times and its same. then i noticed the problem of high fee on eth chain is begining to appear on bsc chain. i feel this is too early despite the many hype that bsc chain carries with its enormous growth in a short time. does this mean the high transaction fee solution still lies on eth chain maybe when its 2.0 is launched. ? lets me hear from your views about this.
No, not really, the transaction fee on BSC does not become higher than usual, even when the network is congested, it is always stable. However, the price of BNB is getting higher and higher, I think it is the reason why you feel that transaction fees are still high. But it is inevitable that as a currency becomes more valuable, its transaction fees become more terrible. Both BTC and ETH have been. Nothing really is surprising.
one of the strongest weapon of bsc chain over eth chain is the low transaction fee which has been doing well for some time. recently i noticed swapping on bsc dex now cost more than usual. i thought maybe its because of the congestion but then i tried like two to three times and its same. then i noticed the problem of high fee on eth chain is begining to appear on bsc chain. i feel this is too early despite the many hype that bsc chain carries with its enormous growth in a short time. does this mean the high transaction fee solution still lies on eth chain maybe when its 2.0 is launched. ? lets me hear from your views about this.
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