I'm getting tired of the high fees for gwei

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Quote from: zahed on July 01, 2023, 11:23:50 AM

Quote from: CapGelatik on June 11, 2023, 06:03:12 PM

Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

Have to agree that Ethereum is the high gas fee network in this time. But also you can not deny that still Ethereum is the number one platform in altcoins in terms of several cases like the most using network. Binance Smart Chain getting popular for their cheap gas fee.

this is indeed a problem that is commonly experienced by many people when using the ethereum blockchain, in my opinion this has not yet been resolved by the ethereum developer himself where the blockchain is one of the most popular blockchains.
I hope the developer can make a feature or update the blockchains that can make transaction fees on the blockchains cheaper.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

The problem is not new to us, ethereum high tx fee is very discouraging but the question is why there are still people that still use ethereum network instead of using bnb,polygon,etc.,the most affected is the newbie and the people who only uses small amount of money to invest or in short the small investors they are the most affected in most of the case about this high tx fee.

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Quote from: CapGelatik on June 11, 2023, 06:03:12 PM

Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

Have to agree that Ethereum is the high gas fee network in this time. But also you can not deny that still Ethereum is the number one platform in altcoins in terms of several cases like the most using network. Binance Smart Chain getting popular for their cheap gas fee.

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Quote from: Andrija Branislav on July 01, 2023, 01:28:20 AM

The problem of high fees for gwei in Ethereum transactions is a complex one that requires a multifaceted solution. Gas costs today are as low as 17 Gwei and as high as 20 Gwei and One approach that can be taken is to use a layer 2 solution, such as Polygon for example, which can offer faster and cheaper transactions. If you want to be patient and not rush, another option is to wait for periods of lower congestion on the Ethereum network to make transactions, which can result in lower fees.

When you are holding ethereum coin and you have no choice other than bridging your ethereum to the second layer solution to avoid non sense fees. The ethereum fees was dynamic but the problem is the fees will never decrease again.

https://etherscan.io/gastracker

You need to pay a lot of fees to bridge your asset to go to the second layer solution. The second layer solution was using batch file transaction to the ethereum blockchain.
It's not an easy solution if your money was in your personal wallet. The different case when you are holding it in your exchange site's account.

The only solution to send his native ethereum to go to the exchange site and try to use second layer solution. It will help him to avoid the fees but everything is fine right now as the fees was quite cheap.

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The problem of high fees for gwei in Ethereum transactions is a complex one that requires a multifaceted solution. Gas costs today are as low as 17 Gwei and as high as 20 Gwei and One approach that can be taken is to use a layer 2 solution, such as Polygon for example, which can offer faster and cheaper transactions. If you want to be patient and not rush, another option is to wait for periods of lower congestion on the Ethereum network to make transactions, which can result in lower fees.

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Quote from: shinratensei_ on June 11, 2023, 06:16:58 PM

Quote from: CapGelatik on June 11, 2023, 06:03:12 PM

Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

it could be said that the very reason ethereum could have this massive gas is because it is no.1 smart contract blockchain platform right now.
so many meme coins getting deployed added with the fact that there are some NFT being deployed into the platform, and not to mention the airdrops mechanism nowadays that got implemented
quite literally just boost the burden on the blockchain, i think there's most certainly long way to go until things gets resolved for this blockchain to get the lowest fee there is, because if not for the value that's quite high.
i'm sure the fee is relatively low, 13 gwei is normal back then but ethereum price just keep growing and growing making it seem really expensive.

Isn't it evident? Ethereum's gas fees are now unpredictable. Its leading position in smart contracts is advantageous, but it's a double bind. Increased popularity has brought about higher traffic, leading to soaring gas costs. Ethereum is more a casualty of its own triumph, isn't it? As for BSC, despite being affordable, it's centralized. Ethereum is genuinely decentralized. It's quite a predicament.

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Personally, I also avoid transactions using the ethereum network, but the only drawback of ethereum right now is the high gas. it's just that, it still can't cover that ethereum is a very promising coin. in fact, with these drawbacks, ethereum is still the king of altcoins, even BNB or networks that have lower fees than ethereum cannot exceed that. because of this, I prefer to hold ethereum than other altcoins, but I avoid coin transactions with the ERC20 network

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Quote from: CapGelatik on June 11, 2023, 06:03:12 PM

Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

it could be said that the very reason ethereum could have this massive gas is because it is no.1 smart contract blockchain platform right now.
so many meme coins getting deployed added with the fact that there are some NFT being deployed into the platform, and not to mention the airdrops mechanism nowadays that got implemented
quite literally just boost the burden on the blockchain, i think there's most certainly long way to go until things gets resolved for this blockchain to get the lowest fee there is, because if not for the value that's quite high.
i'm sure the fee is relatively low, 13 gwei is normal back then but ethereum price just keep growing and growing making it seem really expensive.

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Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

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you can be getting tired of the fee, however i'm sure this fee will not get resolved anytime soon, you should take advantage of the alternative blockchain that already being recommended by many people, even using second layer blockchain is fine if you think the gas fee just doesn't make sense to you.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

It's been ages, we don't have anything about it. People uses erc20 and we all know how much gas fees we need to do and if you want little bit faster you need to add more fee, if your transaction has other option maybe try other chain which is lesser in fees and faster. We need to get used to it especially when bed months come fees and the amount of time will be doubled.

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Quote from: bittick on June 10, 2023, 06:03:46 PM

Quote from: icalical on June 10, 2023, 10:16:18 AM

The best option is to move to other smart-contract, I think other smart-contract like BSC, MATIC, and AVAX are starting to catch up with ETH and you might fill your need with one of those platform, and definitely cheaper than Ethereum.

those aren't smart contract though but blockchain which have the capability of deploying smart contract, but that true though, the only solution that quite literally make sense, just move over to other blockchain, maybe l2 where it's easier, and the fee related problem gets solved, but of course with disadvantage of lesser quality of the ecosystem.

There have been problems with Ethereum gas fees since 2020 when Ethereum pumped high and tried to become Ethereum 2.0,
but unfortunately the gas fees have not been resolved and even the Dapps created on the Ethereum network are currently decreasing.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

The standard gas fee of Ethereum for sending transaction is as cheap as Bitcoin right now. The fee dramatically decreased after the implementation of the PoS as consensus mechanism. The high fee you are describing is from the Dapps itself which typically charge extra fee aside from the network fee for taxes and business profit.

Etherum dapps is worst because they are abusing the current demand on Eth dapps to charge unreasonable fee to their customers. Uniswap is the number dapps that charge expensive fee for making a trade.

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Quote from: maydna on May 07, 2023, 03:23:32 AM

If you are tired of the high fees for gwei, I suggest you not use it anymore and choose another coin. Nobody is forcing you to stay on the Ethereum network, and now there are many options you can use, and you don't have to pay high fees for gwei.

That is a risk we have to accept in using the Ethereum network. However, high costs will not always exist because it depends on the level of network activity. Maybe you need to look for other solutions that can lower transaction fees so you can accept it.

While it's true that high fees can be a deterrent for some users, it's worth noting that Ethereum remains one of the most widely adopted and established blockchain networks. It has a robust ecosystem, extensive developer support, and a wide range of decentralized applications (dApps) and projects built on top of it. Many users find value in these features and are willing to bear the associated fees.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

You only have 2 options.
Either you continue to use Ethereum despite the high transaction fees, or not use it at all.

Besides, as of this moment, the transaction on Ethereum Blockchain is around $0.50 already. Maybe by the time you posted this, the fees is very high, but nonetheless, the fees right now is very low compare to how high it was in the past. One thing more is that, Ethereum isn't the only coin there that's offering smart contracts. There are others as well like MATIC, ATOM, ADA, etc. You might try them instead of expressing your disappointment towards transaction fees of Ethereum.

Quote from: Godday on June 10, 2023, 02:03:29 PM

The solution I'm thinking right now is to choose a BNB because that's the best in my opinion.

Well, this might be a good option, but I might stay away from it for a bit after what happened to them.
I think that CZ will overcome this problem of them, but I just want to be safe, just in case the worst case happens.

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Quote from: carrie_white on May 13, 2023, 02:42:11 PM

I have had the same problem as you for a long time, the eth gas fee is indeed very high, therefore I use the BSC network more often than the ETH network, the BSC gas fee is much cheaper than the ETH gas fee

can't make such compromise if the newest trend are always in ethereum though, i just think that if we truly wanna find some good opportunity of flipping money it's always ethereum that's gonna be best choice, even
though there are many other blockchain that usually have good and cheaper blockchain, like bsc or even probably those layer 2, but seeing from my experience, the coin that usually rise so much are always
in ethereum, only lately that some of the coin are in layer 2 blockchain but that's not long lasting either.
after all, the capital are flocking in ethereum and it seems thats not gonna change anytime soon.

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Quote from: icalical on June 10, 2023, 10:16:18 AM

The best option is to move to other smart-contract, I think other smart-contract like BSC, MATIC, and AVAX are starting to catch up with ETH and you might fill your need with one of those platform, and definitely cheaper than Ethereum.

those aren't smart contract though but blockchain which have the capability of deploying smart contract, but that true though, the only solution that quite literally make sense, just move over to other blockchain, maybe l2 where it's easier, and the fee related problem gets solved, but of course with disadvantage of lesser quality of the ecosystem.

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Quote from: Godday on June 10, 2023, 02:03:29 PM

Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Its Like what Ratimov said in thread The bitcoin blockchain is on its knees again that NFTs have done a lot of bad to crypto networks like BTC or ETH.
I really regret that when NFTs became a trend then people tried to trade NFTs. Many NFTs have been minted and that has created a lot of "trash" on the network.
The solution I'm thinking right now is to choose a BNB because that's the best in my opinion.

Absolutely I agree. With the addition of NFT to the Ethereum network, the network started to swell a lot, but the most important point that was overlooked was that people paid too much money for things that would not cost money and watched them go to waste before their eyes. There is still a lot of money going around NFTs going the same way. In short, why people pay so much for simple pictures.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Its Like what Ratimov said in thread The bitcoin blockchain is on its knees again that NFTs have done a lot of bad to crypto networks like BTC or ETH.
I really regret that when NFTs became a trend then people tried to trade NFTs. Many NFTs have been minted and that has created a lot of "trash" on the network.
The solution I'm thinking right now is to choose a BNB because that's the best in my opinion.

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The best option is to move to other smart-contract, I think other smart-contract like BSC, MATIC, and AVAX are starting to catch up with ETH and you might fill your need with one of those platform, and definitely cheaper than Ethereum.

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The ethereum network continues to be updated. Ethereum developers, during a recent call, approved the details of a future network upgrade called Dencun (Cancun-Deneb), which is expected this year.

A key component of the upgrade will be an Ethereum EIP-4844 improvement proposal known as Proto-Danksharding. The option scales the blockchain by introducing a new type of transactions for large arrays of binary data (blobs) and organizing their storage. This is intended to reduce commissions for L2 solutions based on Rollups technology.

Among other changes, the hard fork includes:

EIP-1153 - reduces fees for storing on-chain data and optimizes block space;
EIP-1153 - improves the efficiency of cross-chain bridges and staking pools;
EIP-5656 - makes minor changes to the Ethereum Virtual Machine;
EIP-6780 - removes code that can prevent smart contracts from working.
The developers have not determined the exact date of activation of the update. This is expected to happen by the end of 2023.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

yes, I completely agree with you, the prices for transactions are very high, it’s not possible to do any simple actions for everything, you have to pay crazy money, as for me it’s all wrong, you shouldn’t raise such huge prices for transactions, because quite recently there were adequate prices for transactions in aisles of the norm, and everyone was fine, the people made a lot of transactions and all this was a good profit

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Quote from: carrie_white on May 13, 2023, 02:42:11 PM

I have had the same problem as you for a long time, the eth gas fee is indeed very high, therefore I use the BSC network more often than the ETH network, the BSC gas fee is much cheaper than the ETH gas fee

BCS does have cheaper transaction fees than ETH but that could change after a big increase in BSC later, I think there will be an increase in gas if the price goes up again but this is just my prediction don't think about it too much. But I like both types of coins to continue to grow.

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Quote from: Bolivar_Tony on May 13, 2023, 05:21:33 PM

Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

you can always alternatives for the purchase of what you are trying to do, if for example you are building an app on top ethereum, you can go for other chains with lower gas fees, I had the same issues with etherem, i have to migrate to stellar because they have lower gas fee.

maybe if its for testing purpose that's still make sense changing over to other chain if one is building an app, but it might be better to use the test blockchain instead.
the thing is that, you still have no choice but to deploy in ethereum blockchain if you wanna make your app meaningful, despite the high gas fee, it's still can't be denied that ethereum blockchain, in term of traffic far better than the rest of the alternative.
therefore it still make sense to deploy an app in ethereum instead, even layer 2 aren't having the same ecosystem like ethereum and recently many coins that has gained success are all in ethereum blockchain, so I doubt you could just move on to another alternative blockchain that easily.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

you can always alternatives for the purchase of what you are trying to do, if for example you are building an app on top ethereum, you can go for other chains with lower gas fees, I had the same issues with etherem, i have to migrate to stellar because they have lower gas fee.

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The status of both bitcoin and ethereum trading networks is not very good. So I'm also quite tired of having to make a forced transaction for this network. Even when friends encourage using the polygon network, sometimes I feel quite annoyed by network congestion and abnormally high transaction fees (although the value is still very small compared to the above two transaction networks). Hopefully, the status of the trading network will stabilize, and everyone should be less stressed about this as well.

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Quote from: carrie_white on May 13, 2023, 02:42:11 PM

I have had the same problem as you for a long time, the eth gas fee is indeed very high, therefore I use the BSC network more often than the ETH network, the BSC gas fee is much cheaper than the ETH gas fee

In most cases, this is due not to our desires, which network to use, but to the realities existing in the cryptocurrency market For example, before the Pepe coin was listed on CEX, it could only be bought on the Ethereum network on a decentralized exchange. And your desire to use the BSC blockchain could not allow you to buy such a coin on this network.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

There were times when it drove me crazy as well. High mining fees on the Ethereum network were when I paid high fees, sometimes depending on the situation. If the trade you will make is a waitable trade, wait for the intensity to pass and try to trade during the less busy hours of the day. Even in the Bitcoin network, there were extremely high payments recently. Unfortunately, all networks have scaling problems.

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I have had the same problem as you for a long time, the eth gas fee is indeed very high, therefore I use the BSC network more often than the ETH network, the BSC gas fee is much cheaper than the ETH gas fee

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Gas fee for ETH is indeed high and is valid until now. However, there are other factors that contribute to the high cost, such as the limited scalability of the current Ethereum network. If you need lowest, don't use ETH Cheesy

.

Blockchain Ethereum can only process a number of transactions per second, which creates obstacles at high demand. This leads to the development of Ethereum 2.0, which aims to overcome this scalability problem and ultimately reduce transaction costs. While the dynamics of supply and demand are the main factors in determining transaction costs, technical limitations that underlie the Ethereum network also play an important role.

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Quote from: raidarksword on May 12, 2023, 03:32:37 AM

High fees on Ethereum network is very old problem ever since its due because many are using the network that's why it's getting more congested especially MEME tokens is highly on demand and everyone wants to have piece of it. Even on bitcoin network is congested because of the BRC20 trends, busy network means many are using it.

Meme tokens were triggering so many transctions to happen in once time. There are also bulk transactions that were coming from L2 who have been bridging to the L1 at the same time. It's making it even looks crazier than before. I would say that if there will be more L2 and meme token trend again and it will able to destroy ethereum. I can say that anyone is trying so hard to make sure if they can get profit from meme token.

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The entire cryptocurrency community has been making negative comments about Ethereum for similar reasons for a very long time, but Ethereum developers who prioritize security have so far failed to do better than this. I think use other coins or use Layer 2 coins. Ethereum will continue to serve with these problems for now. Maybe one day, it will be able to provide fast and cheap money transfer as well as safe, but for now it does not have the qualifications to do so.

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Quote from: iphone5s on May 12, 2023, 12:31:35 PM

Quote from: Rampagoe004 on May 12, 2023, 09:33:25 AM

I prefer BNB for now. Indeed the high Fees on the Ethereum network are a problem for me doing small transactions. Therefore I think BNB is the best right now. But that doesn't mean we have to switch from ETH because there are indeed many projects running on the ETH network and that (high fees) remains a problem that needs a solution.

The two coins are not the best choice, if you can choose to take action by investing in BNB and ETH so much the better. you can analyze a lot from the two virtual currencies. if you talk about large gas costs you should be taught not to cash out in the near future on the coins you have.

BNB gas fees are way far than ETH gas fees. I don't see the sense of not cashing out in the future. Even if ETH gas is ridiculously high, there are many reason why people are transacting on ethereum and majority of them are by earning profit more than the gas fees they have paid. Though there are instances that these gas fees are the one who blocks us in doing transactions because most of the time it's not worthy paying the high gas fees. I have ETH in my wallet but I treat it as an investment but if there's a point that I can get a massive profit from my investment, I won't be bothered by the high fees as long as I get the profit that I want. But yeah, cheap and fast alternatives are better.

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Quote from: Rampagoe004 on May 12, 2023, 09:33:25 AM

I prefer BNB for now. Indeed the high Fees on the Ethereum network are a problem for me doing small transactions. Therefore I think BNB is the best right now. But that doesn't mean we have to switch from ETH because there are indeed many projects running on the ETH network and that (high fees) remains a problem that needs a solution.

The two coins are not the best choice, if you can choose to take action by investing in BNB and ETH so much the better. you can analyze a lot from the two virtual currencies. if you talk about large gas costs you should be taught not to cash out in the near future on the coins you have.

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Why not try other crypto like XRP or MATIC. ETH gas is really a pain in my $azz

Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

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I prefer BNB for now. Indeed the high Fees on the Ethereum network are a problem for me doing small transactions. Therefore I think BNB is the best right now. But that doesn't mean we have to switch from ETH because there are indeed many projects running on the ETH network and that (high fees) remains a problem that needs a solution.

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Perhaps, it happens several times which is why we need to anticipate this possible market event.
Sad to say OP but we need to understand the situation right now. We never have to stress ourselves because that is possible to happen. While thinking about the high fees OP, might look for an alternative or way to move your ETH to a lower fee, or you have to hold and wait for the fees to drop.

Well, it is time for us to learn to hold I guess. And honestly, this urges some people to hold their ERC20 tokens and this will even help to lessen network congestion.

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High fees on Ethereum network is very old problem ever since its due because many are using the network that's why it's getting more congested especially MEME tokens is highly on demand and everyone wants to have piece of it. Even on bitcoin network is congested because of the BRC20 trends, busy network means many are using it.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Everybody is tired of the high gas fee of the ethereum network that is why most of the investors specially the small investors trying to find a good tokens or coins that can run on polygon,ethereum or bnb network chain, if we buy small amount of token then the gas fee is higher than the amount of token that we buy we are just like doing a very in appropriate moves the best option is token that can run on different network.

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Where have you been, buddy? Why just now? I've been sick to my stomach since the beginning of all of this congestion. If I remember right, this started to happen when DeFi became more popular, and then NFT, and then $PEPE and so on and so forth, until now there's been no significant solution whatsoever. The smart contract of Ethereum will be all-mighty if it comes with the solution of scalability. I just do transactions in Eth when it's worth it, so I always check the result with the gas fee in the Eth gas tracker first before executing any transaction. This gas fee issue is really giving me a headache, right? We need an exact solution ASAP.

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l2 was the reason why ethereum fees surged a lot. The hype of meme token is also making it even worst. I can only suggest you to avoid ethereum blockchain when it's still congested at this moment. There's no definite time about when it will be going back to the normal again.

I just avoid to deal with any tokens or NFT that will be using ethereum blockchain as for now.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

it's not only due to Defi and NFT there are many factors out there and that included the emergence of newest layer 2 blockchain that also submit their batch transaction in ethereum blockchain.
moreover many airdrops claiming right now are requiring smart contract interaction unlike before where they just outright airdrops to some address but nowadays one need to interact first to get the airdrops they deserved which only means more congestion to the blockchain. there are many ways to increase efficiency in interacting with blockchain but many are still prefer some gimmicks so i'm sure this problem will be left unresolved for many years to come, that unless the developers of ethereum comes up with miraculous solution.

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so long there is airdrops going in ethereum blockchain the fee will not be spared, it will just always like this, there was proposal in regard of solving the fee but i'm sure that this just not gonna help, the ethereum at this point i think has reached its peak scalability, it's like what binance founder said, blockchain for the rich, and that's true since swapping requires gas fee as high as $50 which is mad.

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Quote from: LastKiss on May 11, 2023, 05:35:52 PM

Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

You can always use another altcoin depending on what you're using with that altcoin, there are a lot of alternatives like BNB, TRON, etc. which will have lower fees compared to Ethereum. If you insist on using Ethereum because have a special reason then wait until there are not many transactions in the Ethereum chain and you will see lower fees if that happens.

this only if the token is also deployed in other altcoin which majority are not, considering the fact that most of the token that's become popular are in ethereum, I doubt anyone would simply switch over blockchain.

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just send your ethereum into an exchange that supports some of the second layer and then use that second layer, that way you don't need to execute some smart contract code which highly decrease your fee required and then you can just settle with layer 2, they usually could save up to $200 for fee alone.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

You can always use another altcoin depending on what you're using with that altcoin, there are a lot of alternatives like BNB, TRON, etc. which will have lower fees compared to Ethereum. If you insist on using Ethereum because have a special reason then wait until there are not many transactions in the Ethereum chain and you will see lower fees if that happens.

irsykes

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I think the airdrop trend for the ethereum network is making costs more expensive and difficult to move because of the dense number of users making transactions. many people are pursuing bridge requirements, swap terms with this ethereum network more and more people are complaining because of the slowness of the network. if the ethereum network airdrop potential continues to exist, it may take a long time for fees to return to normal

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ethereum gas fee is beyond saving, even the layer 2 just makes it worse, if you are waiting until ethereum gas fee decreasing to the point it make sense like around a dollar then wait the next decade maybe they will come up with new solution but for now, that's just a distant dream.

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Quote from: Oilacris on May 11, 2023, 04:59:11 PM

Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Getting tired?

Its not shocking, even myself had long time gone on leaving that Erc20 based transactions which fees arent something that justifiable or something that worth.This is why even i do see some worthy coins to invest on this network or blockchain. The main thing that hinders me is about on the fees. We know that buy and sell does really take a huge slice on your overall amount which you could really be able to feel out on every transaction. LOL

Dont know on how Vitalik would really be able to solve it out. We've been through several updates on ETH and i did presume that it was just intended for the sake of fee reduction
but it seems there's nothing happened after those things but the fact, it did becomes even more worst. This is why i did skip out into this network
and focusing out on BSC or even on SOL instead.

the problem was long overdue already. so if you can't afford such stress, leave the network and find another network suitable to your needs. you can't dictate them on what to do because basically we are all just customer waiting for the improvement of the network. if we can't handle such fees, better move on.
this is why other networks are getting their popularity owed to cheaper fees. take advantage of it rather than complaining to what you can't control.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Getting tired?

Its not shocking, even myself had long time gone on leaving that Erc20 based transactions which fees arent something that justifiable or something that worth.This is why even i do see some worthy coins to invest on this network or blockchain. The main thing that hinders me is about on the fees. We know that buy and sell does really take a huge slice on your overall amount which you could really be able to feel out on every transaction. LOL

Dont know on how Vitalik would really be able to solve it out. We've been through several updates on ETH and i did presume that it was just intended for the sake of fee reduction
but it seems there's nothing happened after those things but the fact, it did becomes even more worst. This is why i did skip out into this network
and focusing out on BSC or even on SOL instead.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Unfortunately it still is. especially if there are many transactions made on the network, the gwei fee will really increase drastically. Currently, the average gwei fee is 80 gwei. However, this will be higher and will continue to change. Indeed, both the fees for the Ethereum network and also Bitcoin are currently experiencing a fairly rapid increase, so we have to sometimes worry about some annoying things, including the high fees even though we only send a few coins or tokens.

cryptomaniac_xxx

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Who wouldn't everyone is now complaining of the high gas fees, not just ETH but BTC lately as well. And as far as ETH goes, we thought that when they to POS this whole high fee issues will be settled or at least minimized.

But with the whole Defi and NFT's is the other way around, transactions are clogging the network now and each and everyone are vying for their transaction to be first and so they don't have any solution but to increase the fees and so this is the result. The worst thing is that we are not even in the bull run, so expect that this is going to be worse at time goes time and we need them to come up with a good solution.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Simple solution, stop using it or start fading off that platform and find one you like. You aren't alone and there is space for new platforms to solve this issue. I don't use eth because of that and yeah I might miss out on some opportunities but I never have to worry about spending just as much in fees to move something off lol.

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Quote from: Rasa nanas on May 08, 2023, 08:04:01 PM

yes it has become the law of economics, who pays higher will be prioritized. for now the ethereum network is not friendly for traders or airdrop hunters with small capital. Apart from the factors that you said the density of transactions on the ETH network is also due to the increase in users who swap or britge in hopes of meeting the requirements for an airdrop.

The ETH network has multiple purposes of daily transactions for exchanges, bridges, NFTs and more, so the most dense altcoin blockchain network for the number of requests and offers continues to increase every day, although there are already several other alternative blockchain networks but the amount of transaction density on ETH is also not decrease.

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Quote from: ultrloa on May 08, 2023, 06:38:23 AM

Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Best not to do any transaction at the moment where transaction fee is so high so that you will not deal with huge transaction fee also the congested network which is happening these days. Better wait for the network became more smoother since this is the way you can find more convenience sending some funds on anywhere you want.

But for now its not ideal to send up something since maybe you might experience what other people experience where they don't have any choice but to pay higher fees just to make their transaction push thru.

Yes, if the amount that you will transact is only small but if it's high enough? I don't think you will be bothered by the rise in fees. Problems like this in Ethereum is not new anymore so many of us are used to this.

Many of us are not whining and not complaining anymore but we can just wait, transact or change cryptos. Until now, the creation of layer 2 coins are still there. It is said to help solve the problems in the Ethereum network so why not make use of this? It's only crazy to think that Bitcoin fees are also surging and I don't think it's because of ETH or the meme coins as they are not on the same line. Maybe someone is sabotaging it? But for what reasons?

RussianEnglishTranslation

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Just use Shimmer or Q Blockchain, both have free gas fees.

Similificator

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Welp, there's always the option to just stop using it or if you can't let go of it entirely, just hodl it and use other networks for transferring funds since there are quite a lot of other options available out there anyway. The only problem is if there are certain coins that you need to invest in on the Ethereum network or only accepts Ethereum payments. But then again, it won't matter if the investment is worthy based on your standards.

High fees are things that we just have to tolerate if we want to use the coin and its network in the meantime while also hoping better updates in the future that would lessen the fees and give better features.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.
(...)

But most of these big platforms on Ethereum are started to exist on layer 2 networks. Where it will help people to save a lot of transaction fees especially if you are not a whale. This is what I noticed also about using Ethereum mainnet and you got only a few funds that are in a transaction, the fees are too much high for you already.

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yes it has become the law of economics, who pays higher will be prioritized. for now the ethereum network is not friendly for traders or airdrop hunters with small capital. Apart from the factors that you said the density of transactions on the ETH network is also due to the increase in users who swap or britge in hopes of meeting the requirements for an airdrop.

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Quote from: yazher on May 08, 2023, 06:45:06 AM

Quote from: DeathAngel on May 07, 2023, 02:24:13 PM

I think it’s because of the recent meme coin craze which led to increased transactions on the ETH chain. It’s caused fees to be much higher than usual. I think the average gas fee is $45 right now, it’s ridiculous but it’s how it works. Maybe hold off on sending until the inevitable meme coin collapse results in less liquidity & volume.

This is the norm even in the last times when the NFT games are trending the transaction fees are crazy. even though they had already done multiple updates, it seems like they cannot remove this problem because they are obviously gaining with it and they taking some advantage of the users who don't really pay attention or who don't really care about it because for them those amounts are nothing and just some norm. That's why the other competitors are taking advantage of this but they seem having a hard time breaking the throne of Ethereum because until now they haven't managed to beat it in terms of price.

I think there is nobody that gets a big benefit from this, aside from people who stake I suppose, but the foundation has no benefit from this and could definitely fix it if they could. In fact, it would help them a lot more if they could fix it, would give them a lot more donations if they can make some improvement.

However, it is not that easy, there is a balance that's needed between making it cheap/fast and making it secure. They could make it much faster, fast like SOL, but then it would have to stop even more, SOL has nowhere near the level where ETH has, and it got frozen so many times due to security reasons, when you consider that, you realize why ETH is not rushing into fixing this, it just doesn't make sense to put security in danger just to be cheaper.

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Of course, not only you, but also many users do not like it. At times, you can catch a smaller commission, but still not as much as you would like. Personally, I use other networks, but I forgot about eth until better times

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Quote from: DeathAngel on May 07, 2023, 02:24:13 PM

I think it’s because of the recent meme coin craze which led to increased transactions on the ETH chain. It’s caused fees to be much higher than usual. I think the average gas fee is $45 right now, it’s ridiculous but it’s how it works. Maybe hold off on sending until the inevitable meme coin collapse results in less liquidity & volume.

This is the norm even in the last times when the NFT games are trending the transaction fees are crazy. even though they had already done multiple updates, it seems like they cannot remove this problem because they are obviously gaining with it and they taking some advantage of the users who don't really pay attention or who don't really care about it because for them those amounts are nothing and just some norm. That's why the other competitors are taking advantage of this but they seem having a hard time breaking the throne of Ethereum because until now they haven't managed to beat it in terms of price.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Best not to do any transaction at the moment where transaction fee is so high so that you will not deal with huge transaction fee also the congested network which is happening these days. Better wait for the network became more smoother since this is the way you can find more convenience sending some funds on anywhere you want.

But for now its not ideal to send up something since maybe you might experience what other people experience where they don't have any choice but to pay higher fees just to make their transaction push thru.

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These days it's meme coin PEPE not defi or nft. Until ethereum solves scalling issues I don't see a way out. When ethereum was at $4k, people were paying gas fees in hundreds, this is still much toned down.

Quote from: cryptoaddictchie on May 07, 2023, 02:25:44 AM

Thats because od heavy usage happening now on some memecoin the eth network. Even sending tokens to exchange has needed tons of fees. Ive even spend $39 for a token just to send it on Binance hence if I used it on uniswap Id be spending more fees due to possible frontrun. But tou muat wait for it to cool down or used other network for now.

To avoid getting front-run use cowswap or use mevblocker. Anyhow, you don't pay extra if you get front-run but dexes like on uniswap you have to do two transactions first approval and second swap itself so you pay more.

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You're wrong, DEFI and NFT aren't the reason why the Ethereum network fee is high, it's because of MEME coins e.g. PEPE and the friends. But this not only happen on Ethereum network, but in Bitcoin network too, those MEME coins are run in Bitcoin network, it's called as BRC-20.

I'm not really followed Arbitrum, but it said to be solve Ethereum's scalability. But if you're actually trade MEME coins which using Ethereum network, you have no choice.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Let's all say thanks to the useless meme koin PEPE, which littered the ETH network and made transactions at $70-100 again. Both bitcoin and ETH again show inadequate value when transactions are sent. The most popular blockchains are so cheesy and so expensive. Paradox. I wonder when PoS, which Ethereum has switched to, will already solve these eternal problems with transaction costs?

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Quote from: AmoreJaz on May 07, 2023, 02:54:47 PM

Quote from: royalfestus on May 07, 2023, 02:49:23 PM

An alternative approach is to consistently evaluate any cryptocurrency you intend to trade against other blockchains that offer more affordable transaction fees. It's worth noting that other blockchains such as Algorand and Binance Smart Chain also support NFTs, hence it's wise to consider trading on them, particularly when they have comparable or reasonable prices.

as you said, there are other networks that are offering lesser or cheaper fees. check the token if they are supported by these other networks. if not, and you feel you are stuck with eth, one thing you can do is check the eth gas tracker. and right now, the fees are indeed high. but in some instances, they are low. if the op can still wait, why not transfer the token when the gas fees are low?

The last option is to patiently wait otherwise, he'll be paying $10-$30. Upon checking today, I'd never see any changes on its fee, probably this will take so long before it drops again, and just like what it happened to BTC, the fee is badly increasing as well. Actually, this is the first that ever happen as I remember. I see before that the fee went high but that only it takes a few days before it was back to normal. Unfortunately, it is already a week or two where it was consistently high, really disappointing but we have nothing to do with this.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Most of the projects under ETH network has a better chance of getting pump compare to other network, the only problem is indeed their ETH fees and even after the updates, there’s still no solution for this. ETH have to solve this, because other network might sees this as an opportunity for them to grab. The higher fees are because of the hype and congested network, and many left with no choice but to deal with it.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

If possible and there's another alternative I don't want to use Ethereum right now, the fee is quite high if you need to transact right away you will be disappointed that you did transact, you could wait but sometimes waiting could take 48 hours before you see gas fees going down and sometimes it might even go up, right now not only Ethereum, there's also congestion on Bitcoin my friend's transaction took 5 hours for one confirmation.

People should have an alternative whenever there's a surge of transactions or they will stick with the choice of proceeding with the transaction even if they are going to lose a lot.

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Quote from: royalfestus on May 07, 2023, 02:49:23 PM

An alternative approach is to consistently evaluate any cryptocurrency you intend to trade against other blockchains that offer more affordable transaction fees. It's worth noting that other blockchains such as Algorand and Binance Smart Chain also support NFTs, hence it's wise to consider trading on them, particularly when they have comparable or reasonable prices.

as you said, there are other networks that are offering lesser or cheaper fees. check the token if they are supported by these other networks. if not, and you feel you are stuck with eth, one thing you can do is check the eth gas tracker. and right now, the fees are indeed high. but in some instances, they are low. if the op can still wait, why not transfer the token when the gas fees are low?

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An alternative approach is to consistently evaluate any cryptocurrency you intend to trade against other blockchains that offer more affordable transaction fees. It's worth noting that other blockchains such as Algorand and Binance Smart Chain also support NFTs, hence it's wise to consider trading on them, particularly when they have comparable or reasonable prices.

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Quote from: DeathAngel on May 07, 2023, 02:24:13 PM

I think it’s because of the recent meme coin craze which led to increased transactions on the ETH chain. It’s caused fees to be much higher than usual. I think the average gas fee is $45 right now, it’s ridiculous but it’s how it works. Maybe hold off on sending until the inevitable meme coin collapse results in less liquidity & volume.

Damn it. It only takes a memecoin to disrupt the adoption of crypto. It shows how vulnerable the networks are if outside forces do it deliberately.

Another frustrating part, other networks also have high fees. Using BTC still is preferable but it will take hours to days for its confirmation. This kind of problem have been occurring since but ETH had not solved it.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

most of us reckt with those high gas fees buddy Angry

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I think it’s because of the recent meme coin craze which led to increased transactions on the ETH chain. It’s caused fees to be much higher than usual. I think the average gas fee is $45 right now, it’s ridiculous but it’s how it works. Maybe hold off on sending until the inevitable meme coin collapse results in less liquidity & volume.

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That is why many mainnet / layer 1 projects developed to replace the mainnet of etherum (Erc20) such as Binance, Solana, Avax, Arbitrum and Sui are to make it easier for crypto users to use the blockchain they want. Hope ETH 2.0 will be released soon and increase the community hype on crypto again in the next bullrun. Its crazy if we want transfer only we are needs high price gwei around 10-15$ its no make sense Cry

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L2 was only making ethereum even worst. This stupid L2 blockchain was always sending bulk of transactions to the L1 that was triggering the network to be very slow at this moment. It also charges very high fees.

Im also very tired to use ethereum. I avoid to use this for now. I use another blockchain instead of ethereum. The fees doesn't even make sense right now.

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Look for DeFi or NFTs that uses the Binance chain then you will save yourself from the expensive fees that Ethereum offers. You are not alone, I have seen and felt it too before that's why I am not using Ethereum anymore for transactions especially if it's an ERC-20 deal.
The cryptocurrency world is wide, you always have a choice and if that is avoiding Ethereum transactions then use other chains instead.
There are also projects that are building their own blockchain because they are also trying to avoid this. Their problem is investors are being driven away just for the single reason of the high transaction fees. That is not good for business and will just end up in bankruptcy instead of making more money.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

yes, today, the gas fee, to be honest, is not adequate in reality, now it’s not profitable to drive altcoins from wallet to wallet unnecessarily, but just recently, 5 years ago, it was possible to drive to different wallets regardless of the price of gas, since the price was miserable and did not pay attention to the waste of gas

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Yes, that is correct. The high fees for Ethereum transactions are a result of the network's supply and demand dynamics. When the number of pending transactions on the network exceeds its capacity, users have to compete with each other to get their transactions processed by offering higher fees (in gwei) to the miners who verify and validate the transactions.

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@OP, check your coin if it's possible to be found in other networks and if it's being supported by multiple chains. Like Polygon and BSC, these two are currently not that much compared to ETH's gwei.
It's really terrible to see the fees go up because of those transactions that are being done and if you're in a hurry, you have to oblige and pay those crazy fees. But before anything else, you might as well do check if it's on other chain to save fees as I've said.

Wexnident

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ETH in a nutshell. Back when I was active in some projects, ETH having that insane gas fee was a nightmare for me and my fellow community. It was also one of the reasons why I just sat down and stopped trading in general, and just started hodling and DCA. The fees come in every now and then when I try out new coins, but hey, at least it isn't that often anymore. And as much as I hate NFT's, it is a pretty active community with a lot of people transacting on it, so it isn't that odd really.

Though I think simple research would show the fees are high because of PEPE coin? Not really following it, never really want to touch meme coins anw.

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I avoid using the Ethereum network for this reason, the high fees make me nervous so I avoid the Ethereum network even though there are a lot of good tokens on the network and a lot of good opportunities.

Unfortunately, the problem of high Ethereum fees did not go away even after the network upgrade.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

I think you should be happy about what’s happening on ETH. Although the fee is increasing, The demand on the Ethereum is starting to rise again which means mass adoption is happening to your investment.

Use side chain like Polygain and Optimism if you want to experience cheap fee while still inside the Ethereum blockchain. Ethereum is not the only one experiencing high fees right now but also Bitcoin. I don’t see the trend on DeFi and NFT right now. Probably this due to the meme coin trend since Pepe coin and Floki listed on Binance.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Been there and done that mate, there's nothing much that we can do. The highest that I've paid for Gwei before was around $100, yes, thanks to those failures that I've done with NFTs I'll never invest again. But this time, it isn't about NFTs but I think DeFi has something to do with this and as well as Pepe coin. Those transactions that have been clogging the network makes the gwei higher and bruh, we can't anything with that. So if you want to transact, do it and pay the high gwei but if not, we don't know how long we will have to wait until this calms.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Yeah i am also pretty frustrated with the current state of the Ethereum network. I am only a small investor and with the current prices for a swap, a staking transaction or even a normal transaction the ETH network is almost unusable because i don't want to pay 40$ for gas if the worth of my transaction is only 50$. I am currently sitting on some tokens that would need to be staked in order to get interest on it, but so far i have not staked them because it is just to expensive for me.
Seems like the change from PoW to PoS really did not effect the transaction prices at all, which is pretty sad.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Nowadays, we experience heavy network congestion in the entire market. In fact, not only ETH has been affected but also Bitcoin transactions. Wondering how this happens because as I experience in the past few days, it never takes so long and the fees declined but now, the fees are even increasing badly. I can't really imagine paying $10 and above in ETH transactions and $5 for BTC.
I'd never see it was because of the popularity but what I think is that major investors(whales) are buying more and paying huge fees to take the highest priority which also influences the others to pay high as well.

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If you are tired of the high fees for gwei, I suggest you not use it anymore and choose another coin. Nobody is forcing you to stay on the Ethereum network, and now there are many options you can use, and you don't have to pay high fees for gwei.

That is a risk we have to accept in using the Ethereum network. However, high costs will not always exist because it depends on the level of network activity. Maybe you need to look for other solutions that can lower transaction fees so you can accept it.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Thats because od heavy usage happening now on some memecoin the eth network. Even sending tokens to exchange has needed tons of fees. Ive even spend $39 for a token just to send it on Binance hence if I used it on uniswap Id be spending more fees due to possible frontrun. But tou muat wait for it to cool down or used other network for now.

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Quote from: Sidra101 on May 07, 2023, 01:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

What is your using purpose? Try it again to see if the tests you are using are matching the ability to spend with the ecosystem from Ethereum, if you have been through the previous stages when DeFi was popular, sometimes paying hundred dollars for transaction fees will also be accepted. If I remember correctly, I also used to pay close to $200 for UNISWAP trades before, indeed at that time the return on assets was so great that I paid much attention or complained about such a fee, but to be fair this is also a multi-year problem with the Ethereum ecosystem, and they are also making a lot of changes that I consider acceptable for regular use.

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The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Topic: I'm getting tired of the high fees for gwei (Read 590 times)