There is a GAS war on decentralized trading platforms.
Topic: The cost of transferring money on the Ethereum network is too high (Read 648 times)
September 02, 2020, 02:31:45 AM
Gas costs are at a new level. I am wondering when Ethereum 2.0 will launch and will they solve the problem of high cost, slow sending speed?
There is a GAS war on decentralized trading platforms.
There is a GAS war on decentralized trading platforms.
September 01, 2020, 02:28:20 AM
Currently, the trend of using DEX is blossoming and there are many projects with huge transaction volume on the UNISWAP platform. At such a high cost they can only suit the wealthy, for those who trade under $ 500, this will be a huge drawback. Theoretically, if ethereum 2.0 launches then the problems related to cost should be solved. I'm waiting to see if it solves the problem.
August 31, 2020, 10:38:36 PM
Currently, i saw on https://ethgasstation.info/ the gas fee of Ethereum network is 245 for safe low.
The gas fee seems keep increasing, meaning there are many transactions on Ethereum network occurring.
If you have some eth or eth token in exchange, i suggest you to convert it to other coin before you withdraw it.
The gas fee seems keep increasing, meaning there are many transactions on Ethereum network occurring.
If you have some eth or eth token in exchange, i suggest you to convert it to other coin before you withdraw it.
August 31, 2020, 11:29:35 AM
Honestly I give up on ethereum for now, I'm not going to make any transaction for now unless I have more than 100$ worth of ethereum or tokens, the gas fee is really killing me right now
Even if you are having more than $100 and then you must think for a twice to make a transaction use ethereum. As you can see the fees is very high and imagine when you are sending $100 worth of ethereum and you must pay up to $20 for a tx. that's crazy
August 31, 2020, 09:16:33 AM
Honestly I give up on ethereum for now, I'm not going to make any transaction for now unless I have more than 100$ worth of ethereum or tokens, the gas fee is really killing me right now
Even if you are having more than $100 and then you must think for a twice to make a transaction use ethereum. As you can see the fees is very high and imagine when you are sending $100 worth of ethereum and you must pay up to $20 for a tx. that's crazy 
August 31, 2020, 09:14:27 AM
Honestly I give up on ethereum for now, I'm not going to make any transaction for now unless I have more than 100$ worth of ethereum or tokens, the gas fee is really killing me right now
You are dramatizing. Transaction fee has declined about a week ago and transactions are not soo expensive. Transaction fees were always cheap. Of course it is expensive to pay for 1$ worth tokens transactions, but when you send something that worth 50-100$, paying a dollar is normal.
Besides, take a look on ethereum price. It grows, same does transaction price. Its balance. You cant just expect that ethereum price doubled, and transaction price would not do it.
August 31, 2020, 08:00:23 AM
It is very pathetic who send low amount for day to day use. Sometimes it happens that if we bear the fees, our main capital gets hampered. But if we think about price, ethereum is growing everyday.
We are talking about fees and indeed it's very annoying, you need to adjust the fees if you want to make it more quicker.
Sending your token / coin using the the regular fees will take longer, if you are in such a hurry you'll need to adjust. I was able
to send $70 worth of tokens paying $4+ and still take some time before reaching the exchange.
The best thing about high transaction fee is all about ethereum and bitcoin. Users will tend to hold instead of selling it seeing that bitcoin and ethereum has a good market price.
I am an ethereum lover here but for now I sell them already. I guess I need to wait for another market crash for cryptocurrency so that I could buy ethereum and bitcoin again.
August 31, 2020, 07:55:38 AM
That is what happens when something gets popular, it is not as high as few weeks ago for example, you want to know why? Because ethereum got popular and the transaction costs went up super high and after a while that hype died down and now it is still higher than it used to be but lower than what it was a couple weeks ago. Do not really worry that it happened, be happy that it happens.
Because when that happens it means that there are tons of people exchanging ethereum, there are actually sooooo many people doing that it actually causes the blockchain to be clogged and you need to pay a ton more in order to get your transaction passed. That means there are people who like it and use it, that is what we want right? We want the whole world to use it, so blockchain being clogged is a popularity thing and we should be happy about it.
Because when that happens it means that there are tons of people exchanging ethereum, there are actually sooooo many people doing that it actually causes the blockchain to be clogged and you need to pay a ton more in order to get your transaction passed. That means there are people who like it and use it, that is what we want right? We want the whole world to use it, so blockchain being clogged is a popularity thing and we should be happy about it.
This is certainly not the first thread about this issue, and the big question is of course: how will you get "the whole world to use it" if you have to pay huge fees?
Basic conditions for users who are not interested in the whole blockchain behind-the-scenes story are simply: 1. is it faster than my bank? 2. is it cheaper than my bank?
It used to be faster and cheaper, but times have clearly changed (for certain coins like ETH, I mean).
I'm not saying that's a good or a bad thing (which is not the point here), but it does mean the whole world will not become more enthusiastic to use it in the current circumstances.
August 31, 2020, 07:40:35 AM
It is very pathetic who send low amount for day to day use. Sometimes it happens that if we bear the fees, our main capital gets hampered. But if we think about price, ethereum is growing everyday.
We are talking about fees and indeed it's very annoying, you need to adjust the fees if you want to make it more quicker.
Sending your token / coin using the the regular fees will take longer, if you are in such a hurry you'll need to adjust. I was able
to send $70 worth of tokens paying $4+ and still take some time before reaching the exchange.
August 31, 2020, 07:25:42 AM
Honestly I give up on ethereum for now, I'm not going to make any transaction for now unless I have more than 100$ worth of ethereum or tokens, the gas fee is really killing me right now
August 31, 2020, 07:05:33 AM
Already long time, the price of transactions has been growing due to the expected release of Ethereum 2.0 and, of course, due to the popularity of DeFi, and therefore you should always catch the moments when the price of gas falls and make transactions at these moments.
August 30, 2020, 04:37:33 PM
-snip-
I have sent ethereum 3x with gas 58 gwei, 78 gwei and 86 gwei all transactions pending I was a little frustrating at the time
-snip-
I have sent ethereum 3x with gas 58 gwei, 78 gwei and 86 gwei all transactions pending I was a little frustrating at the time
-snip-
My advice, before making a transaction on Ethereum Blockchain, firstly you must be checking how many gas for regular transaction at http://ethgasstation.info
Now
Quote
Recommended Gas Prices in Gwei
67 I FAST< 2m
59 I STANDARD< 5m
48 I SAFE LOW< 30m
67 I FAST< 2m
59 I STANDARD< 5m
48 I SAFE LOW< 30m
August 30, 2020, 04:07:08 PM
It is very pathetic who send low amount for day to day use. Sometimes it happens that if we bear the fees, our main capital gets hampered. But if we think about price, ethereum is growing everyday.
August 30, 2020, 04:01:51 PM
i will suggest to switch to another blockchain for ur transaction. tron will be better or eos. i prefer tron but recently, there was a 70% transaction fee reduction in ethereum gas price. with the ethereum 2.0 testnet on the horizon, the fee might keep going down. The recent DEFI space have created the high gas fees but other blockchain platform are coming to the rescue. DOT and solana will product effective platform to battle the gas fee.
August 30, 2020, 03:45:05 PM
not only you, I also feel the same way even the eth gas fee is much more expensive than the token I sent at that time. I realized this because considering the ever-increasing Ethereum price it could impact shipping costs as well. I hope this won't last long, if this problem persists it will likely impact ethereum users, I mean, users can switch to another altcoin with cheaper shipping costs.
August 30, 2020, 03:25:39 PM
In particular to uniswap, the transaction fee is too high and has discouraged alot of people from using the platform. I think if everyone calls them out they might adjust it. Decentralization should offer low transaction fee with speed.
August 30, 2020, 03:08:25 PM
Everyone is worried about Ethereum network high fees. The primary benefit of cryptocurrency is low transfer costs. If the user is paying high fees for their little transactions, then the purpose of cryptocurrency is dead. Ethereum network should resolve the high fees issue; otherwise, people will go to the other blockchains instead of Etherium network. So the purpose of swap is to minimize the exchange fees, but if paying in Uniswap high fees, this should not be used for trading and swapping.
August 30, 2020, 09:48:32 AM
That will be happen when the traffic get overload with transaction.. Its mean a lot of peoples using ethereum witch is good for your investment as when we see something crowd wih peoples it mean the market will be grow. So it has a good side and a bad side as the cost will be keep on rising and any low gas will make your transaction on pending for days.
August 30, 2020, 09:41:53 AM
Honestly I see 2.3 dollars right now, and that is a big step down from what it was a week ago or so and even with that it is still a thousand percent higher than last year.
We really need to go back to like 20 cents per transaction levels, without that we are really not going to see anything ethereum related picked up too much, people will try to look past that and find something else with another blockchain, otherwise why would they want to be involved with anything that even just the fee costs over 2 dollars, few sends and receives and they are already at 10 dollars loss from the situation without even having to make any profit or loss, that is just the start. That is why I believe we need to find a way to make it a lot lower, and I mean really a lot.
We really need to go back to like 20 cents per transaction levels, without that we are really not going to see anything ethereum related picked up too much, people will try to look past that and find something else with another blockchain, otherwise why would they want to be involved with anything that even just the fee costs over 2 dollars, few sends and receives and they are already at 10 dollars loss from the situation without even having to make any profit or loss, that is just the start. That is why I believe we need to find a way to make it a lot lower, and I mean really a lot.
August 28, 2020, 05:52:30 PM
-snip-
I have sent ethereum 3x with gas 58 gwei, 78 gwei and 86 gwei all transactions pending I was a little frustrating at the time
-snip-
I have sent ethereum 3x with gas 58 gwei, 78 gwei and 86 gwei all transactions pending I was a little frustrating at the time
-snip-
My advice, before making a transaction on Ethereum Blockchain, firstly you must be checking how many gas for regular transaction at http://ethgasstation.info
Now
Quote
Recommended Gas Prices in Gwei
67 I FAST< 2m
59 I STANDARD< 5m
48 I SAFE LOW< 30m
67 I FAST< 2m
59 I STANDARD< 5m
48 I SAFE LOW< 30m
And if they do, it's surprising them why their transactions are being stucked but they have never consulted or checked the current fees of the network.
Checking it is needed to be aware what's recommended gas to pay and what low gas amount you have in your mind to avoid.
August 28, 2020, 04:37:11 PM
Yes, it's really annoying. It's taking too much trx fees to make a confirmation. better to use ltc or other cryptos which takes low fees. Also, I used low fees though in USD price was more than 1$ it takes more than 24 hours to make the trx confirmation. And I am quitting ETH until the fee cost reduction.
August 28, 2020, 04:53:31 AM
This is actually something im very concerned about since most of my coins use ETH to trade. Not many coins offer to trade on other trading blockchain. I just hope they could find a way around this or atleast the coins would consider using other ways for gas.
August 28, 2020, 01:24:42 AM
-snip-
I have sent ethereum 3x with gas 58 gwei, 78 gwei and 86 gwei all transactions pending I was a little frustrating at the time
-snip-
I have sent ethereum 3x with gas 58 gwei, 78 gwei and 86 gwei all transactions pending I was a little frustrating at the time
-snip-
My advice, before making a transaction on Ethereum Blockchain, firstly you must be checking how many gas for regular transaction at http://ethgasstation.info
Now
Quote
Recommended Gas Prices in Gwei
67 I FAST< 2m
59 I STANDARD< 5m
48 I SAFE LOW< 30m
67 I FAST< 2m
59 I STANDARD< 5m
48 I SAFE LOW< 30m
August 28, 2020, 01:21:59 AM
https://ethgasstation.info/index.php
gas costs are much better now below around 70 is not above 200 like before, you might be able to make transactions now even though it doesn't look cheap yet, I like doing erc20 ethereum token transactions when gas costs are around 2 or 10, I will probably do transactions when the gas is below 10 again like before
gas costs are much better now below around 70 is not above 200 like before, you might be able to make transactions now even though it doesn't look cheap yet, I like doing erc20 ethereum token transactions when gas costs are around 2 or 10, I will probably do transactions when the gas is below 10 again like before
August 28, 2020, 12:41:02 AM
That is what happens when something gets popular, it is not as high as few weeks ago for example, you want to know why? Because ethereum got popular and the transaction costs went up super high and after a while that hype died down and now it is still higher than it used to be but lower than what it was a couple weeks ago. Do not really worry that it happened, be happy that it happens.
Because when that happens it means that there are tons of people exchanging ethereum, there are actually sooooo many people doing that it actually causes the blockchain to be clogged and you need to pay a ton more in order to get your transaction passed. That means there are people who like it and use it, that is what we want right? We want the whole world to use it, so blockchain being clogged is a popularity thing and we should be happy about it.
Because when that happens it means that there are tons of people exchanging ethereum, there are actually sooooo many people doing that it actually causes the blockchain to be clogged and you need to pay a ton more in order to get your transaction passed. That means there are people who like it and use it, that is what we want right? We want the whole world to use it, so blockchain being clogged is a popularity thing and we should be happy about it.
August 28, 2020, 12:06:54 AM
very disappointing now network ethereum really bad gas rises and even make a transaction the longer on Thursday, I have sent ethereum 3x with gas 58 gwei, 78 gwei and 86 gwei all transactions pending I was a little frustrating at the time because I really need the money very eth bad network at this time to create a transaction that is really not so good anymore.
I just sent my Ethereum yesterday and the average fees was 114 gwei for the transaction and that also took more than 2 to 3 minutes to get one confirmation on the network. I believe that this wasn't the case before DeFi trend started on the ethereum network and was way better and cheaper to send the transactions to others in ethereum rather than using bitcoins for sending the payments which were way more costly than the ethereum network and also bitcoin transactions were slower as compared to etherum network. 
August 27, 2020, 11:48:40 PM
very disappointing now network ethereum really bad gas rises and even make a transaction the longer on Thursday, I have sent ethereum 3x with gas 58 gwei, 78 gwei and 86 gwei all transactions pending I was a little frustrating at the time because I really need the money very eth bad network at this time to create a transaction that is really not so good anymore.
August 27, 2020, 11:19:48 PM
yes, Ethereum's network has been having trouble in recent days. My friend spent over 20 $ to bring 0.5 ETH to Binance exchange and it was crazy. Ethereum has had a lot of network problems lately, it seems that is why they have to upgrade it to 2.0. Hopefully in the near future the development team will complete it soon. That will help a lot for users as well as keep those loyal to the Ethereum network.
August 27, 2020, 10:43:06 PM
maybe you can use a token which has a lower transaction fee than ethereum, if you realize transactions using other altcoins have a high speed and very low fees, such as for example payment using EOS, try using EOS which has low fees and stable price movements.
I prefer to use more centralized exchanges and to avoid the cost of transferring money between centralized exchanges I choose low transaction cost cryptocurrencies such as XRP, XLM, EOS, TRX to execute transactions. this translation. The price volatility of these cryptocurrencies is within permissible and I am comfortable using them. August 27, 2020, 05:15:17 PM
i guess with the DEFI hype the ETH Gas cost will further go up as ETH price also climbs up. If you want to move the ETH or swap it do it fast and opting for slow confirmation helps to reduce a bit cost , if you have time.
The high fees are always the issue in eth when price increase the fees does. Op could opt to choose other coins which are lower fees or opt to send with low fees but it takes time to send the transaction. A lot of people complaining about the network fees but that's what we can do during this time. 
August 27, 2020, 02:29:59 PM
i guess with the DEFI hype the ETH Gas cost will further go up as ETH price also climbs up. If you want to move the ETH or swap it do it fast and opting for slow confirmation helps to reduce a bit cost , if you have time.
August 27, 2020, 02:23:50 PM
It's very annoying, I tried to send 3$ worth of token to kucoin this morning and the gas fee won't go down more than 2.6$, it doesn't make any sense to sell low valued tokens right now, other blockchain like Tron or litecoin and ripple are the best alternative
You should calculate all costs and expenses before performing any operations. In recent months, the cost of gas in the Ethereum network is really very high, this was further compounded by the increase in the price of Ethereum, which further increased the cost of commissions in terms of dollars.
If this transaction fee price is high for you, you should wait until it becomes cheaper.
August 27, 2020, 08:40:07 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
Brother, please note that transaction fee and time seems to have settled now to pre-congestion time so there is not much issue at the moment but being the most loved and used network ethereum needs to find longterm solutions, I know eth 2.0 is coming up but even before that there should be solutions. August 27, 2020, 08:37:28 AM
This issue always exist, whenever there is a lot of transactions on the ethereum network, it becomes crowded ,slowed and transaction fees rise. There's no good solution right now, i think you have to get used to it, and reducing number of transactions, this is only advice i can give you.
Well, every time the number of transactions increases, ETH fees also increase a lot, now each ETH transaction will cost about $ 1.5 to be able to send smoothly. Before fees went up to over $ 5 earlier because of investors' need to join Defi, and it really confused me. August 27, 2020, 08:33:02 AM
It's very annoying, I tried to send 3$ worth of token to kucoin this morning and the gas fee won't go down more than 2.6$, it doesn't make any sense to sell low valued tokens right now, other blockchain like Tron or litecoin and ripple are the best alternative
That is why you should not buy shitcoins just only because it is available for cheap price.And why $3 to kucoin? What you are going to do with such small amount !!!Few months back people yelled bitcoin because ethereum transactions are faster and cheaper but now they are the one crying, I agree that bitcoin fee also getting increased due to network congestion but with ethereum it just created because of all those shit tokens.
August 27, 2020, 08:12:50 AM
This issue always exist, whenever there is a lot of transactions on the ethereum network, it becomes crowded ,slowed and transaction fees rise. There's no good solution right now, i think you have to get used to it, and reducing number of transactions, this is only advice i can give you.
August 27, 2020, 07:56:25 AM
The cost of gas has always been high lately. Especially for transactions on uniswap, if you only sell tokens with est $ 10. it is better not to do it, there is no gain or even a possible loss. Therefore I always try to do transactions in the morning local time. because the cost of gas is slightly lower.
Uniswap itself was also contributing for the increase of the tx fees on ethereum network. I always using binance coin as an alternative coin to do a transaction to the local or another big exchange sites. it cost only 20 cents for each transaction and it's worth compared with ethereum that i must pay up to $5 to create a transaction.
August 27, 2020, 05:42:00 AM
Had you considered the recent pump of the Ethereum value?
Before we don't feel it and that is because it is just $230 per piece.
$1-2 per transaction is better than using money transfer services which takes like 5-10 percent of the money you will transfer.
Recently I also made a transaction at an average speed. I think it was $4-5 when converted.
But here is the thing if you don't convert it to USD, is it still the same amount of ETH which you will be spending? I do.
If you did, that means nothing changed.
Before we don't feel it and that is because it is just $230 per piece.
$1-2 per transaction is better than using money transfer services which takes like 5-10 percent of the money you will transfer.
Recently I also made a transaction at an average speed. I think it was $4-5 when converted.
But here is the thing if you don't convert it to USD, is it still the same amount of ETH which you will be spending? I do.
If you did, that means nothing changed.
August 27, 2020, 05:15:16 AM
I think that such high commissions in the Ethereum network will continue until the full launch of Ethereum 2.0. Since I think that this will happen faster than the hype around DeFi will subside, which served to increase the volume of transactions, and therefore increase the commission in the network.
Yes, if there is a higher demand for the service of the miners then it will surely affect their commission fee services to which it will went high too. This is the reason for high transaction fee for eth and bitcoin. Others too that are increasing gas fee for the transaction to be prioritize which will then make miners fee services get so high. Anyway, I think it is better to be that way so that others will not tempt to sell their bitcoin and instead will hold it until such we can see other hype for bitcoin to bullish.
August 27, 2020, 05:08:20 AM
Totally agree with you. I recently changed ERC20 tokens to ETH using a decentralized swapping site. It charged mit almost $10 in fee for the contract. This is ridiculous, even for large swapping volumes, and shows how far Ethereum and others are still away from mass suitability.
August 27, 2020, 05:05:53 AM
It's very annoying, I tried to send 3$ worth of token to kucoin this morning and the gas fee won't go down more than 2.6$, it doesn't make any sense to sell low valued tokens right now, other blockchain like Tron or litecoin and ripple are the best alternative
I think that such high commissions in the Ethereum network will continue until the full launch of Ethereum 2.0. Since I think that this will happen faster than the hype around DeFi will subside, which served to increase the volume of transactions, and therefore increase the commission in the network.
August 27, 2020, 04:58:26 AM
The cost of gas has always been high lately. Especially for transactions on uniswap, if you only sell tokens with est $ 10. it is better not to do it, there is no gain or even a possible loss. Therefore I always try to do transactions in the morning local time. because the cost of gas is slightly lower.
August 27, 2020, 04:38:45 AM
It's very annoying, I tried to send 3$ worth of token to kucoin this morning and the gas fee won't go down more than 2.6$, it doesn't make any sense to sell low valued tokens right now, other blockchain like Tron or litecoin and ripple are the best alternative
bro just use other coin that's also widely accepted in many exchanges but have significantly cheaper transaction fee. no point using ETH if the fee itsels surpass the money you trying to send. this will only happen temporary and eventually the fee goes to normal but when its bullish dont expect cheap fee because everyone is sending crypto. 
August 27, 2020, 03:57:06 AM
It's very annoying, I tried to send 3$ worth of token to kucoin this morning and the gas fee won't go down more than 2.6$, it doesn't make any sense to sell low valued tokens right now, other blockchain like Tron or litecoin and ripple are the best alternative
maybe you can use a token which has a lower transaction fee than ethereum, if you realize transactions using other altcoins have a high speed and very low fees, such as for example payment using EOS, try using EOS which has low fees and stable price movements. August 27, 2020, 03:03:24 AM
It's very annoying, I tried to send 3$ worth of token to kucoin this morning and the gas fee won't go down more than 2.6$, it doesn't make any sense to sell low valued tokens right now, other blockchain like Tron or litecoin and ripple are the best alternative
August 27, 2020, 02:53:28 AM
I'm also having problems with gas right now, some tokens are still stuck in my wallet and I don't know how long it will take, I also move some tokens because I have to sell them on an exchange and change them to other tokens as another option
You should replace it with a new transaction that contains more fees to pay the network. I think that will make your transaction will be placed on the priority block. You can try this method because I have also tried that to replace my old tx that paid small fees with a new one.
Or he can cancel it anytime simply by sending a 0 ETH transaction to the same address he is sending the token from. He can refer to this instruction if he wanted to replace the transaction fee, but I would suggest to just cancel it for it is much more simple and easier.
Canceling a Transaction
Canceling means generating a 0 ETH transaction to your own address with the purpose of preventing a previous transaction from “going through” / “being mined” / “being included in the blockchain” / “being stuck”.
Canceling means generating a 0 ETH transaction to your own address with the purpose of preventing a previous transaction from “going through” / “being mined” / “being included in the blockchain” / “being stuck”.
August 26, 2020, 06:48:22 PM
I'm also having problems with gas right now, some tokens are still stuck in my wallet and I don't know how long it will take, I also move some tokens because I have to sell them on an exchange and change them to other tokens as another option
You should replace it with a new transaction that contains more fees to pay the network. I think that will make your transaction will be placed on the priority block. You can try this method because I have also tried that to replace my old tx that paid small fees with a new one.
August 26, 2020, 06:36:57 PM
Everyone has noticed the increase in the fee for Ethereum and it's very annoying for those who are transferring smaller amounts. It is annoying because the fee is more than what you're trying to send.
And if you don't pay the right and recommended fee or you adjusted it based on what you think is justifiable, you can get stuck with your transaction with a day or two. If you can't take the cost of the fee, change into other altcoins that have lower fees but if it's no avail and your transfer should be ETH, you have no choice but to adjust it.
And if you don't pay the right and recommended fee or you adjusted it based on what you think is justifiable, you can get stuck with your transaction with a day or two. If you can't take the cost of the fee, change into other altcoins that have lower fees but if it's no avail and your transfer should be ETH, you have no choice but to adjust it.
It is much more annoying to those who actually does not trade ETH but trading the ERC20 token because it is way more expensive to move this token around. Currently, the normal ETH gas fee is around 0.001 to 0.002 ETH while when one is moving an ERC20 token inside, it costs for around 4x the gas. It requires me to pay 0.008 ETH to move an ERC20 token worth around $6 so I just canceled the transfer. And imagine if more and more people use ETH let us say it was mass adopted, the network will be greatly congested and if the fee system stays the same, we might end up paying $100 for a $1 transaction.
August 26, 2020, 06:24:44 PM
That's why as much as possible I avoid moving my coins from one place to another. Sometimes the transaction fees are hilarious and bot worth it if you are only sending a small volume of coins. If you are trading there are altcoins which can provide you faster and cheaper transaction fees.
Yes. If I want to transfer from one exchange to the other, most especially during arbitrage, I try as much as possible not to use Ethereum, because exchanges have also increased the transaction fee, due to Ethereum high cost of transaction, which is why I do not blame them. Some i go for coins that are highly scalable and with low cost of transaction.
August 26, 2020, 06:13:02 PM
As you already understood, everyone faced similar problems. Personally, I was very surprised when I saw gas prices in excess of 150.
By the way, transactions even with high gas freeze, apparently due to changes in the load in the subsequent blocks. It looks like the miners are back in their golden age.
https://etherscan.io/gastracker Currently I am always monitoring here because there are still my transactions that haven't been processed for 3 days.By the way, transactions even with high gas freeze, apparently due to changes in the load in the subsequent blocks. It looks like the miners are back in their golden age.
You're right, lucky for the surviving miners, their heyday is back again.
August 26, 2020, 05:44:51 PM
As you already understood, everyone faced similar problems. Personally, I was very surprised when I saw gas prices in excess of 150.
By the way, transactions even with high gas freeze, apparently due to changes in the load in the subsequent blocks. It looks like the miners are back in their golden age.
By the way, transactions even with high gas freeze, apparently due to changes in the load in the subsequent blocks. It looks like the miners are back in their golden age.
August 26, 2020, 02:11:55 PM
Lesser people will continue to use ethereum but majority will opt for other altcoins because of this ridiculous high gas fee, I hope this will be fixed with the next 2.0 ETH upgrade, it's really hard to trade with ethereum on exchanges now, to withdraw I always have to use other options like Litecoin or dogecoin
I think those coins too are good option and I won't be surprise if they start making an increase. However, the etheruem gas fee will also come back to normal maybe as the upgrade is on.
August 26, 2020, 02:11:52 PM
Yeah the transactions are insane I don't even know how are million of dollars being traded on uniswap. This is crazy. I would rather use EOS.
I actually want to use EOS, but if I use it, I may no longer be able to get profit from trading ethereum tokens on cex market, and also at this time if you think that the project on Uniswap that you want to trade doesn't feel like you have a profit cancel the transaction and never send gas. August 26, 2020, 02:10:47 PM
There's no doubt that it takes a fortune to effect a transaction these days using the ethereum blockchain. I personally find it very difficult to send transactions when the gas fee is high, I'll rather wait for the value to drop, its a bit good, that we can see the prevailing gas fee and work accordingly to avoid failed transactions.
August 26, 2020, 02:05:47 PM
Yeah the transactions are insane I don't even know how are million of dollars being traded on uniswap. This is crazy. I would rather use EOS.
August 26, 2020, 10:49:09 AM
I'm also having problems with gas right now, some tokens are still stuck in my wallet and I don't know how long it will take, I also move some tokens because I have to sell them on an exchange and change them to other tokens as another option
this is the biggest problem with the ETH network. If people want to send small amounts of money, they cannot do this due to the fact that the commission is higher than the amount they want to send August 26, 2020, 10:29:27 AM
Everyone has noticed the increase in the fee for Ethereum and it's very annoying for those who are transferring smaller amounts. It is annoying because the fee is more than what you're trying to send.
And if you don't pay the right and recommended fee or you adjusted it based on what you think is justifiable, you can get stuck with your transaction with a day or two. If you can't take the cost of the fee, change into other altcoins that have lower fees but if it's no avail and your transfer should be ETH, you have no choice but to adjust it.
Sure. The reduced costs mean my transaction in the queue will be placed in a lower priority and need to wait for miners to verify for hours. I would see ethereum as an asset class like Bitcoin.And if you don't pay the right and recommended fee or you adjusted it based on what you think is justifiable, you can get stuck with your transaction with a day or two. If you can't take the cost of the fee, change into other altcoins that have lower fees but if it's no avail and your transfer should be ETH, you have no choice but to adjust it.
August 26, 2020, 08:51:20 AM
for now it would be nice if I wait not to trade, and choose another option when trading, and which increased a few weeks ago is now back down and can trade even though it is still very high when selling a coin that was worth only $ 30,
I hope it will return to normal and be able to make transactions with less high fees.
I hope it will return to normal and be able to make transactions with less high fees.
August 26, 2020, 07:50:52 AM
Ethereum Network fee is lower than the previous week. I used more than 300 Gwei for fast Trx information. that was over 4$. But Now the fee is low, According to ethgasstation for fast TRX you need 78 Gwei. But if you compare with the previous TRX cost then the fee is high.
if network traffic full again , it will back to high again. i am often to see ethereum network fee suddenly rise again, but its okay now gas fee could back to normal again and no need long time to confirm. core developer must concern about this transaction fee or ethereum will replace by another platform.
August 26, 2020, 06:31:26 AM
Ethereum Network fee is lower than the previous week. I used more than 300 Gwei for fast Trx information. that was over 4$. But Now the fee is low, According to ethgasstation for fast TRX you need 78 Gwei. But if you compare with the previous TRX cost then the fee is high.
August 26, 2020, 06:06:06 AM
Stop using Ethereum then;) If the demand goes away, then the fees go down. Everybody is jumping on board the Defi hype like they were jumping on the ICO hype and gambling Dapps hype earlier. Same story, different chapter.
Dude,,, I have no idea what you are talking about and you just sound like you are adding a lot of words that mean nothing. Can you not just add nonsense?
In my opinion, problems like this will not be resolved if those who transact very often and continuously do it so that the transaction process is faster, therefore they deliberately add gas so that transactions are not hampered and can be processed quickly. So for that the real problem is that many people deliberately transact continuously so that transactions become more pile up and fuel costs continue to increase.
Dude,,, I have no idea what you are talking about and you just sound like you are adding a lot of words that mean nothing. Can you not just add nonsense?
August 26, 2020, 03:29:23 AM
I'm also having problems with gas right now, some tokens are still stuck in my wallet and I don't know how long it will take, I also move some tokens because I have to sell them on an exchange and change them to other tokens as another option
August 26, 2020, 03:21:39 AM
This is a Uniswap problem. If you use this platform, then you will have a very high commission. I do not know why the commission is so high, but on other platforms, they are lower
The only expensive there is the fee when you will convert some tokens. But if you are gonna transferred from wallet to wallet its fine and gotta say considerable since the network has been used too much. Uniswap activity is the problem most of the users have been using it and I must say that the one benefited well here are the liquidity providers.
August 26, 2020, 03:02:13 AM
Lesser people will continue to use ethereum but majority will opt for other altcoins because of this ridiculous high gas fee, I hope this will be fixed with the next 2.0 ETH upgrade, it's really hard to trade with ethereum on exchanges now, to withdraw I always have to use other options like Litecoin or dogecoin
August 26, 2020, 02:58:24 AM
That's why as much as possible I avoid moving my coins from one place to another. Sometimes the transaction fees are hilarious and bot worth it if you are only sending a small volume of coins. If you are trading there are altcoins which can provide you faster and cheaper transaction fees.
August 26, 2020, 02:56:59 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
This is normal on the Ethereum network, guess they need to update this nonsense payment if they want investors to stick on their company or else they gonna driven them out with these high payment transaction fees. I mean who's gonna use your network when you have some nice options to choose to? we have a variety of solid top coins that can be used for an alternative on ETH. I guess they didn't count it and it will make their sales in vain. The price will never reach at $500, let alone recording a new all time high this year if they don't fix it.
August 26, 2020, 02:22:13 AM
I'm stuck with few tokens in my wallet that have present price from 6$ to 20$ because I can't send them to exchange for trading because of high gas fee, I don't see how this will end soon and if Ethereum keeps growing the gas fee will keep going up too, I hope Buterin find a solution to this problem soon
August 26, 2020, 12:55:39 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
You may see by now that ETH is currently for the rich and not for the lower middle class, where all transaction fees are thrown away for miners, they burn their money to the miners too for quick confirmation, so they use high fees, I speculate that fees high transactions such as miners' interference also to seek more profit, but again, I don't even do transactions anymore, not only uniswap, other DEX exchanges that use smart contracts certainly use high fees, so stop making transactions for now copper member
Activity: 2800
Merit: 1179
Leading Crypto Sports Betting & Casino Platform
August 26, 2020, 12:05:33 AM
Thanks for the article, they are complete and easy to understand. By the way, I want to know do you use forkdelta for trading or not? I have left some money on this exchange and I want to withdraw them to my wallet after being forgotten for a while. I see several affiliate transactions between forkdelta and 1inch.
I used it before but it was a very long time ago. Forkdelta is very slow and laggy. The only thing you need to do is to transfer back your token from Forkdelta to your ETH wallet address then used Metamask as your main wallet so that you can connect on any DEX without any hassle. Forkdelta needs you to transfer your balance to there internal wallet address while the DeFi exchange doesn't require you that shit procedure. There is only few liquidity on FD right now, you should move out your asset to that site, Maybe they will be shut down soon. GL brother!
August 25, 2020, 10:34:12 PM
the cause of gas increase is simply the network being too overcrowded and peolpe are racing to get their transaction confirmed first by increasing the gas. whether the traffic comes from defi or another source it doesn't matter the most important think is that ethereum need to implement some new things to prevent gas increase when the network become overcrowded because tbh if they dont, Im not gonna expect it to grow larger and have bigger userbase.
The same with Bitcoin, most of the people wants faster confirmation because they might be reaching out to buy a huge amount so they don't care about its fee, their goal in mind is to get the specific token since they believe it could be profitable very soon. The result, the small buyers or investors get eaten by the transaction fees.
What I can suggest is if we aren't rushing to buy the token, we can lower the gas fee, it could still be confirmed but will take a significantly higher time.
August 25, 2020, 09:59:28 PM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
Gas has dropped a lot since last week, last weekend I moved $ 150 and had to pay more than $ 8 for gas fees. That's really a huge fee for using ETH. Luckily the gas has dropped and now we can comfortably move tokens or ETH. Btw I think the gas increased because investors need to use ETH and they need to participate in Defi projects. August 25, 2020, 09:45:46 PM
That's the reason why I use centralized exchange to buy DeFi projects because of this absurdly high fee. With the ongoing run of Ethereum and Bitcoin, I doubt that the price would subside to a tolerable level, though the gas price has gone down as of now. We might have to feel this for another month or so. If you can't handle the fees in trading, better hold on another project.
August 25, 2020, 08:43:03 PM
The ethereum network is currently in trouble. who knows how long this continues, this is very detrimental. imagine just to send tokens / ethereum we have to pay above 2-3$. This is far from claiming that Ethereum is a cheap platform. this could let ethereum users go and use another platform.
its always trouble when ethereum network traffic full. its be main problem for ethereum network now and core developers must solved this problem in their new version. meanwhile in other platform only low fee required, and now many project migrating to other platform that have better network scalability. 
August 25, 2020, 08:13:50 PM
The ethereum network is currently in trouble. who knows how long this continues, this is very detrimental. imagine just to send tokens / ethereum we have to pay above 2-3$. This is far from claiming that Ethereum is a cheap platform. this could let ethereum users go and use another platform.
August 25, 2020, 06:23:30 PM
I also experienced it and it is very annoying. I am a bit surprised why the cost can increase very significantly. I think there should be a limitation for the maximum price for transaction fees on the Ethereum networks. If it is possible, it should be very helpful for Ethereum holders. You know, because of the increase in transaction fees of Ethereum, I delay sending my Ethereum to exchange wallets for some days.
August 25, 2020, 06:04:21 PM
The problem is uniswap was also contributing the increase for the ethereum gas fees too. https://ethgasstation.info/
Look at the leader board
Due to popularity of DeFi Projects in the last few months, the transactions of DeFi trading brings too much traffic in ethereum platform that produces too high in transaction fees. We see how DeFi projects became too hype and adds into some transactions that are usually use even before in ethereum projects. All we can do is to try other platforms if we have a choice if we are only about to transfer smaller amount to not feel the hassle of too high gas fees. Look at the leader board
Better to leave uniswap and try 1inch exchange. You can use $CHI token to reduce transaction and they offer the best price offer in all DEX exchange including the transaction fee. They have also an accurate virtual price so that you can minimize price slippage in your trade. Never do swing trade especially if the profit percentage of your is too small enough to cover all the fees.
You can refer on my thread about DEX review here: https://bitcointalksearch.org/topic/m.55058783
There is an upcoming DEX that will kill all this current problem of DEX. You can check project serum here: https://projectserum.com/. There DEX will be launch this week.
Thanks for the article, they are complete and easy to understand. By the way, I want to know do you use forkdelta for trading or not? I have left some money on this exchange and I want to withdraw them to my wallet after being forgotten for a while. I see several affiliate transactions between forkdelta and 1inch. You can refer on my thread about DEX review here: https://bitcointalksearch.org/topic/m.55058783
There is an upcoming DEX that will kill all this current problem of DEX. You can check project serum here: https://projectserum.com/. There DEX will be launch this week.
August 25, 2020, 06:01:44 PM
When Ethereum shipping costs are very large it is due to the very high ethereum prices and the dense Ethereum transactions that make shipping costs soar, one other way is to use other altcoins that may provide cheaper and faster shipping costs.
August 25, 2020, 08:54:28 AM
There's no doubt that the ethereum blockchain has been highly congested which has translated into increasing gas fee. In fact the ethereum gas fee hits an ATH of over 300 Gwei. It beats my imagination how the miners expects users to pay such fees especially when the value for the transactions Could be far lesser. I really do wish that something is done about this anomaly.
August 25, 2020, 08:50:27 AM
To be fair, prices have dropped significantly in the last week, and transactions are usually executed very quickly if you are willing to pay.
Even so, the payment for gas fee is too much. I will never trade for a while if the gas fee ia like this. Imagine the burden to traders everytime you used uniswap with a bery huge fee. Sometime I need to pay 8$ to 15$ just to sync in my transaction and thats something is not funny. I do hope ethereum should fixed this and make it normal used again. No idea why its happen this only started when we enter bull market And that fees is too high for me just to paid it for one transaction.whether I like or not I will not transfer any ETH or token right now because of the high fee asked for every transaction and its really hurts my balance with that high fees.
August 25, 2020, 08:18:14 AM
I have faced the same problem like you too and im leaving the uniswap platform caused by i need to get an alternative place to trade that will not make me bankrupt just to pay the transaction fees.
...
...
This Uniswap itself sets such a high Commission and I do not understand why it is so high. Today on Binance, the transaction fee has increased slightly and now it is 0.005 ETH, but a week ago it was 0.004 ETH. But this Commission is not comparable to that charged by Uniswap. Uniswap wants to lose its customers?
August 25, 2020, 08:09:48 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
Price increases then the transactions fee also getting increased along with and it is definitely due to the defi hype which created huge number of transactions getting done in small time frame, if you want to move ethereum then you have to pay the fees or else stop doing conversion until this hype loses. August 25, 2020, 08:00:47 AM
To be fair, prices have dropped significantly in the last week, and transactions are usually executed very quickly if you are willing to pay.
Even so, the payment for gas fee is too much. I will never trade for a while if the gas fee ia like this. Imagine the burden to traders everytime you used uniswap with a bery huge fee. Sometime I need to pay 8$ to 15$ just to sync in my transaction and thats something is not funny. I do hope ethereum should fixed this and make it normal used again. 
August 25, 2020, 07:37:00 AM
This is a Uniswap problem. If you use this platform, then you will have a very high commission. I do not know why the commission is so high, but on other platforms, they are lower
August 25, 2020, 07:34:47 AM
In my opinion, problems like this will not be resolved if those who transact very often and continuously do it so that the transaction process is faster, therefore they deliberately add gas so that transactions are not hampered and can be processed quickly. So for that the real problem is that many people deliberately transact continuously so that transactions become more pile up and fuel costs continue to increase.
August 25, 2020, 06:56:30 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
You have to keep in mind that uniswap is a trading platform and they have fee which is comparatively higher than the regular exchanges because they extract the fee to pay yield farmers or liquidity providers meanwhile the fee for transaction in ethereum has significantly reduced in last couple of days. 
August 25, 2020, 06:51:06 AM
The problem is uniswap was also contributing the increase for the ethereum gas fees too. https://ethgasstation.info/
Look at the leader board
Look at the leader board
Due to popularity of DeFi Projects in the last few months, the transactions of DeFi trading brings too much traffic in ethereum platform that produces too high in transaction fees. We see how DeFi projects became too hype and adds into some transactions that are usually use even before in ethereum projects. All we can do is to try other platforms if we have a choice if we are only about to transfer smaller amount to not feel the hassle of too high gas fees.
The Ethereum team did not anticipate this to happen it happens years ago in the height of Cryptokitties but the transactions is not this high people will now have to look for other option if they are going to buy something or trade it to fiat, I read a lot of traders complaining about this also they are losing on their trading activity.
August 25, 2020, 06:50:35 AM
To be fair, prices have dropped significantly in the last week, and transactions are usually executed very quickly if you are willing to pay.
August 25, 2020, 06:45:37 AM
If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
Not so exaggerated to go bankrupt but the fees being incurres to the users are injustice. How many users are now interested to trade using uniswap? Probably more than interested on using bitcoin in terms of transaction fee. But it would not stop them from doing so cause they knew that there are likely some hype happening around the defi on uniswap.But to be honest, if you are not gonna do something important or buying some bulk token its much better avoid doing some transactions cause its not worth it.
August 25, 2020, 06:33:16 AM
Not your problem alone, an increase in cost for ethereum, is very disturbing especially those who send with little value and greater than nominal fee dikirm, the market had recovered intact but a fee to rise on high
August 25, 2020, 05:55:16 AM
Ugh, I know, right? It's scary to think that you have to spend a few dollars just to send some token from ethereum platform to another. Right now sending token that uses ethereum platform has a bigger gas price. I know that you can put a cheaper gas/gwei but it will take more time than it should be. Now, I'm kinda switched over to other altcoin which has a cheaper fee and all.
August 25, 2020, 05:51:22 AM
Large fees and waiting times makes it difficult to go through decentralized exchanges and Defis based on Ethereum platform. On chain games and gambling has already been useless for some time now but some of them are still sticking around and they are also suffering with this increase in fees and transaction time.
Though the fees are just below a dollar for 15 minutes, it's still unacceptable for a utility coin.
Though the fees are just below a dollar for 15 minutes, it's still unacceptable for a utility coin.
copper member
Activity: 2800
Merit: 1179
Leading Crypto Sports Betting & Casino Platform
August 25, 2020, 05:40:22 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
Better to leave uniswap and try 1inch exchange. You can use $CHI token to reduce transaction and they offer the best price offer in all DEX exchange including the transaction fee. They have also an accurate virtual price so that you can minimize price slippage in your trade. Never do swing trade especially if the profit percentage of your is too small enough to cover all the fees.
You can refer on my thread about DEX review here: https://bitcointalksearch.org/topic/m.55058783
There is an upcoming DEX that will kill all this current problem of DEX. You can check project serum here: https://projectserum.com/. There DEX will be launch this week.
August 25, 2020, 05:33:36 AM
Everyone has noticed the increase in the fee for Ethereum and it's very annoying for those who are transferring smaller amounts. It is annoying because the fee is more than what you're trying to send.
And if you don't pay the right and recommended fee or you adjusted it based on what you think is justifiable, you can get stuck with your transaction with a day or two. If you can't take the cost of the fee, change into other altcoins that have lower fees but if it's no avail and your transfer should be ETH, you have no choice but to adjust it.
Sure. The reduced costs mean my transaction in the queue will be placed in a lower priority and need to wait for miners to verify for hours. I would see ethereum as an asset class like Bitcoin.And if you don't pay the right and recommended fee or you adjusted it based on what you think is justifiable, you can get stuck with your transaction with a day or two. If you can't take the cost of the fee, change into other altcoins that have lower fees but if it's no avail and your transfer should be ETH, you have no choice but to adjust it.
It would be illogical to take up loans to invest in cryptocurrency. The issue of increasing fees would most likely have a drastic impact on your capital, if you're trading on uniswap, Where transactions are sent to the smart contracts and deductions are made for every transaction. I'll advise you trade on a centralised exchange, to mitigate the losses as a result of the increased price.
Perhaps I will suspend trades on decentralized platforms as your advice. August 25, 2020, 05:31:10 AM
I have faced the same problem like you too and im leaving the uniswap platform caused by i need to get an alternative place to trade that will not make me bankrupt just to pay the transaction fees.
The problem is uniswap was also contributing the increase for the ethereum gas fees too. https://ethgasstation.info/
Look at the leader board
The problem is uniswap was also contributing the increase for the ethereum gas fees too. https://ethgasstation.info/
Look at the leader board
August 25, 2020, 05:13:08 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
It would be illogical to take up loans to invest in cryptocurrency. The issue of increasing fees would most likely have a drastic impact on your capital, if you're trading on uniswap, Where transactions are sent to the smart contracts and deductions are made for every transaction. I'll advise you trade on a centralised exchange, to mitigate the losses as a result of the increased price.
August 25, 2020, 05:07:08 AM
Everyone has noticed the increase in the fee for Ethereum and it's very annoying for those who are transferring smaller amounts. It is annoying because the fee is more than what you're trying to send.
And if you don't pay the right and recommended fee or you adjusted it based on what you think is justifiable, you can get stuck with your transaction with a day or two. If you can't take the cost of the fee, change into other altcoins that have lower fees but if it's no avail and your transfer should be ETH, you have no choice but to adjust it.
And if you don't pay the right and recommended fee or you adjusted it based on what you think is justifiable, you can get stuck with your transaction with a day or two. If you can't take the cost of the fee, change into other altcoins that have lower fees but if it's no avail and your transfer should be ETH, you have no choice but to adjust it.
August 25, 2020, 04:39:23 AM
I think the cost had even really reduced in the past 1 week, something around -100% price slash. it has been alarming and the reaction was up-roaring all over the space. The DEFI hype (on Ethereum blockchain) and the ethereum price was responsible for the increase in transaction fee, at the moment we expect stability across DEFI adoption and introduction of newer venture in the space, maybe mining etc.
Newer venture? Means a decentralized exchange similar to Uniswap? I have heard about Balancer, the lower the cost on the faster. Before we had bancors. I can't imagine if it was better to launch the POS and POW protocol in parallel with the ethereum network? August 25, 2020, 04:27:35 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
I think the cost had even really reduced in the past 1 week, something around -100% price slash. it has been alarming and the reaction was up-roaring all over the space. The DEFI hype (on Ethereum blockchain) and the ethereum price was responsible for the increase in transaction fee, at the moment we expect stability across DEFI adoption and introduction of newer venture in the space, maybe mining etc. August 25, 2020, 04:15:41 AM
Recently, I've noticed that the ethereum network has an oddly high fee. I was involved in buying some cryptocurrency on Uniswap and it cost $ 2-6 last week and $ 10-20 for trading today for transactions of $ 100 and up. There are some larger transactions and there are much higher transaction costs. In addition to the high cost, I have to wait up to 10 minutes to complete my transaction. If I continue to bear such high costs, I could go bankrupt before paying back my investment on Uniswap.
Jump to: