Topic: Why Ethereum GAS fee so high? (Read 815 times)
Don't worry when Ethereum active upgrade become 2,0 will be happy news for many investor and trader because gas will be down, but still take few time how etehreum upgrade become 2.0, but now looks have good news last two days etheruem have lower gas fees transaction how ever make many people looks happy now.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Gas is measured in Gwei. And some of the main factors that determine the cost of gas are the price of the ETH itself, the complexity of the transaction, and the number of people transacting at the same time. Therefore, it is well maintained to avoid busy Ethereum congestion to avoid high gas costs.Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
I totally agree with you. I have been trying to make a transaction for some days now and that gas fees was about $25 but after reading someones post hear days back suggesting same thing and also suggesting trying to do your transactions in the weekends or some certain time of the day, I decided to wait till weekend and just sent the transaction not too long ago
Like I said, if i had done this transaction days ago, I would have paid $25 but now just paid $4.03 even though some other network could be cheaper but this is better than the Initial cost of $25, so the time and day of transaction netters now during the high gas fees that is if the transaction can wait.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Gas is measured in Gwei. And some of the main factors that determine the cost of gas are the price of the ETH itself, the complexity of the transaction, and the number of people transacting at the same time. Therefore, it is well maintained to avoid busy Ethereum congestion to avoid high gas costs. Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
This will be an obstacle to ETH growth if it is only a discourse and not immediately realized, the ETH 2.0 project seems to be just a promise of calm amid the existing cost problems, so many people choose to switch to other altcoins while waiting for certainty when it will be realized.
Ethereum gas fees are so high after launching the staking program, and Defi projects on ETH network and demand of ETH is very high, the main factor of incase in price is a high demand of ETH by investors, so maybe ETH gas price will reduce incoming June after upgrade of Ethereum network.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
The density that occurs in the ethereum network is one of the causes that drives costs to be more expensive nowadays and currently the number of transactions on the project defi is one of the drivers of congestion on the ethereum network because several transactions in deFi have many computational layers, which need to be calculated so that one transaction can be completed quickly because that's why transactions in the DeFi ecosystem consume more gas than sending tokens from wallet to wallet, and we know that gas fees are not constant and the fees fluctuate depending on the network demand. Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
One of the main causes of etherium gas is its excessive volume of transactions. Tension fees increase due to over-transactions. However, the network fee at Etherium today is much lower than in the past. Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Did no one notice that after the Berlin hard fork, which took place on April 15, the cost of transactions in the Ethereum network significantly decreased? I see a real decrease in the price per transaction, which was always lower on Saturday and Sunday. 2-3 dollars per transaction is an acceptable expense for me.
The answer is easy, the reason why ethereum gas fees are so high is because more and more transactions are using the ethereum blockchain, therefore ethereum plans to issue ethereum 2.0 which can reduce gas fees. but on the other hand, people may not wait too long for this, so many people / projects use BSC
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
It is due many transactions occurred on Ethereum blockchain, and they want to be quick processed.
To increase transaction speed, we need more gas so the miner can pick up our transaction and process it quickly.
I don't think the fee can be reduced, it is depends on the network transactions volume and ether price.
Why ethereum GAS fee is so high?
i remember it started getting high during the start of defi craze . eth network are overloaded but now that defi craze is getting lower why fees didnt move on ? miners starting to like this ?Is there any possibility of fee reduction?
sometimes the fee are lower and sometimes high . eth team are also doing an update to fix this fee problems but we dont know when its the final time for the fee to stabelize .What are the factors are responsible for increasing or decreasing the fee?
like i said above when network is heavy loaded it can contribute on the rising fee but when mempool is empty it can lower the feeWhy ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
I think gas fees from Ethereum are expensive because many people use the network from Ethereum to make transaction, so that makes gas fees from Ethereum become expensive and I am sure if ETH 2.0 is already launched, then of course gas fees from Ethereum will be low again.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
I think gas fees from Ethereum are expensive because many people use the network from Ethereum to make transaction, so that makes gas fees from Ethereum become expensive and I am sure if ETH 2.0 is already launched, then of course gas fees from Ethereum will be low again.
It results simply from the high usage of the Ethereum blockchain in DeFi sphere. So high transaction volume means miners have an increased number of jobs, so the transactions with higher gas fo through and lower gas has lesser chances of going through
All that only means more gas is needed to process the transaction.
The value of the fee also considers ethereum price. Even if gas was like 10 gwei, but ETH was $100k, it would be expensive to use it
It results simply from the high usage of the Ethereum blockchain in DeFi sphere. So high transaction volume means miners have an increased number of jobs, so the transactions with higher gas fo through and lower gas has lesser chances of going through
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
gas fees from Ethereum will go down when ETH 2.0 is launched and in my opinion what makes gas fees from Ethereum become expensive is because many people make transactions using Ethereum blockchain and I believe if Ethereum has made an update (ETH 2.0), then of course gas fees from Ethereum will become low.
We've been hearing about the ethereum 2.0 project for over a year now and it seems that nothing substantial has been done as it relates to the transaction fee on ethereum. Its rather unfortunate that most people are sourcing for other alternatives to carrying out their transactions and that's not encouraging for ethereum.
The gas problem in ethereum can't be solved because there are several factors that cause ethereum to continue to use the current fee. first starting from his company that will continue to use this fee because the more the price of eth rises the more they seize his fee.
the second because the 0x adoption system can also be said to be influential because it affects the intermediaries so double in cost.
maybe eth 2.0 could be the solution because they hope to fix the current problems but this is not certain we just wait for the continuation.
the second because the 0x adoption system can also be said to be influential because it affects the intermediaries so double in cost.
maybe eth 2.0 could be the solution because they hope to fix the current problems but this is not certain we just wait for the continuation.
Price of ethereum still high and make gas transaction not any way without pay higher fees, better try with BSC coin still cheap price fees and take few second only your transaction completed and received on your wallet. If you use erc20 you need waiting long time although use higher speed and pay higher gas fees transaction, right now is not good way using erc20 coin.
It is horrible to send erc20 token now because of high gas fees. You are right that it is better to use BSC but we are not used to BSC. It will take more time to adjust with it but it will be great option if a token will be controlled by two different blockchain.
Price of ethereum still high and make gas transaction not any way without pay higher fees, better try with BSC coin still cheap price fees and take few second only your transaction completed and received on your wallet. If you use erc20 you need waiting long time although use higher speed and pay higher gas fees transaction, right now is not good way using erc20 coin.
The commission on transactions in the ETH network is simply crazy. On the Yobit exchange, the transfer fee is higher than the amount I wanted to transfer to my wallet. What's happening?
Even after having so high fees, ethereum settled 1.5 trillion dollars in transactions in the first quarter of 2021, that is more than its previous 7 quarters combined. You can imagine the scale of the new transactions which are going on. It's not easy but once the eth 2.0 comes into play we can surely say that ethereum will move heavily.
It is assumed to move heavily and likely to fix the issues like the fees that the network is experiencing. Before there's really no problem with it but when the crowd has been in the network and makes it full, the fee has increased.We're expecting that positive changes would come to it and that will make Ethereum one of the most desired crypto again due to the low fees that it offers once 2.0 is done.
Even after having so high fees, ethereum settled 1.5 trillion dollars in transactions in the first quarter of 2021, that is more than its previous 7 quarters combined. You can imagine the scale of the new transactions which are going on. It's not easy but once the eth 2.0 comes into play we can surely say that ethereum will move heavily.
I really dont understand why ethereum gas fees are so high, is it a problem from the miners is there something wrong with the ethereum blockchain? Something has to be done and very soon too
My brother tried to swap some TANGO tokens on uniswap some weeks ago and over $35 was deducted for transaction fee and the swap still failed.
When your swap failed your assets will deduct and very sad moment like this, I am not a trader on Uniswap because I see higher fees take for swap and sending coin, ever loss fees when sending coin failed and I have fill 10$ again to buy ethereum and sent back, some time we need more than 20$ for make transaction success. My brother tried to swap some TANGO tokens on uniswap some weeks ago and over $35 was deducted for transaction fee and the swap still failed.
I really dont understand why ethereum gas fees are so high, is it a problem from the miners is there something wrong with the ethereum blockchain? Something has to be done and very soon too
My brother tried to swap some TANGO tokens on uniswap some weeks ago and over $35 was deducted for transaction fee and the swap still failed.
My brother tried to swap some TANGO tokens on uniswap some weeks ago and over $35 was deducted for transaction fee and the swap still failed.
If you are not dealing with uniswap or eth wallet use some other coins to transfer funds. I use ripple to transfer from exchange to exchange since is cheap and fast. ETH 2.0 wont come soon so try to work around it.
I am sure that there are many problems that the value of the erc20 token that has been stored has increased but they cannot sell it because the calculation of transaction fees is too high.for transactions between exchanges, I think we can still handle it. but to overcome what happened to the ERC wallet I am sure many have difficulties.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Currently Ethereum gas fee have skyrocketed since Ethereum prices are pumping and there are so many transactions happening on the Ethereum Network, the blockchain is congested since the transactions are way too much, which we all know it can't process them all once, that why the fees have been insanely higher through this bull run, the only way the TX can be reduced is when Ethereum release the ETH 2.0 upgrade and it's not in sight as at the moment writing this,if you want to pay lesser transactions fees make transaction at night when there are lesser people making transactions or when the Ethereum blockchain is less congested. Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Currently Ethereum gas fee have skyrocketed since Ethereum prices are pumping and there are so many transactions happening on the Ethereum Network, the blockchain is congested since the transactions are way too much, which we all know it can't process them all once, that why the fees have been insanely higher through this bull run, the only way the TX can be reduced is when Ethereum release the ETH 2.0 upgrade and it's not in sight as at the moment writing this,if you want to pay lesser transactions fees make transaction at night when there are lesser people making transactions or when the Ethereum blockchain is less congested. Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
in part the high value of eth fees is due to its high value on the market the introduction of eip-1559 which will put a cap on the fees that miners can ask may perhaps solve the problem
You want to see ethereum gas price down just back your day to last three years 
, there are you can see how lower gas fess transaction and little eth fund can use to send and swap eth coin, after Uniswap become most popular just awhile ethereum gas up and make not control how Uniswap need 40$a when sell coin there,
in part the high value of eth fees is due to its high value on the market the introduction of eip-1559 which will put a cap on the fees that miners can ask may perhaps solve the problem
I think April month they will publish some update about Deduction of transaction fee.i agree with you for the gas fee lots of investor going to use BSC wallet personally i am also fadup on eth i am using BSC wallet for my transaction.
They actually went live with the deployment of their upgrade which they promise to reduce the ethereum fee but we haven't seen anything they said about the reduction becasue the fees still remains high, the lowest fees is around the $9.... and so on. The Berlin upgrade wasn't enough to give what the users wanted from ethereum and possibly there will be more vendors or investors that will definitely move their ass from ethereum Blockchain to Binance Blockchain. I think April month they will publish some update about Deduction of transaction fee.i agree with you for the gas fee lots of investor going to use BSC wallet personally i am also fadup on eth i am using BSC wallet for my transaction.
They actually went live with the deployment of their upgrade which they promise to reduce the ethereum fee but we haven't seen anything they said about the reduction becasue the fees still remains high, the lowest fees is around the $9.... and so on. The Berlin upgrade wasn't enough to give what the users wanted from ethereum and possibly there will be more vendors or investors that will definitely move their ass from ethereum Blockchain to Binance Blockchain. I think April month they will publish some update about Deduction of transaction fee.i agree with you for the gas fee lots of investor going to use BSC wallet personally i am also fadup on eth i am using BSC wallet for my transaction.
People mostly depressed about eth gas fees because of Uniswap. Many people want to trade on uni swap but the gas fees in there are unbearable. Binance takes that chance and brings BSC network and pancakeswap against eth and uniswap. Eth gas fees were expected to be reduced after the Berlin update but that didn't happen either. Eth just losing its ground to BSC because of its high fees.
It is so high because miner only want to take who want to pay gas fees higher and the transactions is too much in the network, it is also because of NFTs used a lot of network resource. We will see the gas reduction if we already move to PoS.
We will have to wait for the eth 2.0 update and that will reduce the Gas fee. I don't know exactly when Ethereum will be completely shifted to PoS ?
Also if you note the development in the ethereum network is slow and the updates always get delayed.
It is so high because miner only want to take who want to pay gas fees higher and the transactions is too much in the network, it is also because of NFTs used a lot of network resource. We will see the gas reduction if we already move to PoS.
I think April month they will publish some update about Deduction of transaction fee.i agree with you for the gas fee lots of investor going to use BSC wallet personally i am also fadup on eth i am using BSC wallet for my transaction.
BSC have cheapest gas price than ETH coin and now they only planning with eth upgrade with 2.0 where promise will give lower fees transaction later, but this planning have run more than six months before December last year, until now just an issues without adoption when upgrade to be 2.0 and have lower fees for using erc20 coin, so far still popular with erc20 coin and most IDO still use eth platform.
I think April month they will publish some update about Deduction of transaction fee.i agree with you for the gas fee lots of investor going to use BSC wallet personally i am also fadup on eth i am using BSC wallet for my transaction.
I think the cause of the current high gas costs is due to the increasing popularity of defi, which triggers the density of transactions that occur on the Ethereum platform today and so I have seen an increase in gas prices like this happened in 2018, which was when crypto was experiencing its peak increase in price. We know that with an increasingly congested network, transactions need to be prioritized so that this triggers an increase in gas costs as they are today.
In the past, gas was high when Ethereum has price increases or with ICO in 2017. Since 2020, the DeFi trend and swap exchangers cause the gas stays at high levels for many months.It sucks when you have to pay $30 for your swap on swap exchangers.
Binance with Changpeng Zao behind are smart and take advantage of Ethereum collapse to hype their Binance Smart Chain. They got big success so far.
They again are leader in crypto. In the past, they grown fastly from zero to become a giant by taking advantage of the technical problems and bad customer supports on Poloniex and Bittrex.
You can check gas with https://www.gasnow.org/
ETH/ERC20 - Check and select good Gas price
I don't know what the ETH developers think, it looks like it's relaxed to face this problem, as if the news of eth2.0 is like a diversion and a promise that never happens, many are starting to switch to other platforms and create opportunities for other coins to narrow down gap in the competition for coins in crypto, even though the already high eth value if this cost problem is not resolved will be catastrophic
perhaps they are already have a solutions to fix this problem "Hight Fees" .. But unfortunately the price of some alts is keep increasing as well and tends to over take the place of ethereum. . And the fact that some investors, traders are now trying to swap their ETH to Alts such BNB and etc, ( just to make a good profits in the bullish.). So its either they don't want to lose support reason they raised the fees .. Or there's another reason ? Lol just kidding Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
The ethereum gas fee is high because the sudden pump up of altcoins including the ethereum pump also in which it also affects the gas fees that the people do every transaction. The possible chance to decrease again the gas fee or the transaction fee on ethereum is when the ethereum itself will dump again and because of that the gas fee will be back to the normal again. That's the possible thing that might happen in order to decrease the gas fee or back it again to the normal prices.Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
The problem comes with the demands of decentralization. There is no efficient way of scaling a blockchain without losing much of the decentralized part. Technologically it would require an increase in block size, which in turn will create problems with running your node and validating your transactions. Moore's law is behind in the speeds of CPU's and many think it will find an end in capacity terms too. Ethereum as Bitcoin has to make fundamental changes to keep scaling without fees growing. The Ethereum network is used more than ever before with DeFi and NFTs, and this is the most it can give right now. Of course, Ethereum is not Bitcoin and requires changes, as it is a service. Bitcoin is an investment and it is an asset but doesn't have thousands of projects running and clogging its network. It performs as an investment asset and its fine like that. Ethereum needs to scale and this is why Ethereum 2.0 upgrade is in progress.
Without upgrade to 2.0 impossible we can see gas ethereum back to lower price and still not possibility how to know and when ethereum upgrade 2.0, how ever many trader and coin now move and change from erc20 platform become with BSC network where have lower gas fees transaction and keep lower than ethereum erc20 platform.
I don't know what the ETH developers think, it looks like it's relaxed to face this problem, as if the news of eth2.0 is like a diversion and a promise that never happens, many are starting to switch to other platforms and create opportunities for other coins to narrow down gap in the competition for coins in crypto, even though the already high eth value if this cost problem is not resolved will be catastrophic
The new EPI's will address this issues... scalability is so important to bring down gas price and thats what eth2.0 is doing.... blockchain is ment to evolve... and thats what its been doing since genesis blockchain.... so we are on the right path .. but just be patient and careful of where and when u put ur money .
Without upgrade to 2.0 impossible we can see gas ethereum back to lower price and still not possibility how to know and when ethereum upgrade 2.0, how ever many trader and coin now move and change from erc20 platform become with BSC network where have lower gas fees transaction and keep lower than ethereum erc20 platform.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
The ethereum gas fee is high because the sudden pump up of altcoins including the ethereum pump also in which it also affects the gas fees that the people do every transaction. The possible chance to decrease again the gas fee or the transaction fee on ethereum is when the ethereum itself will dump again and because of that the gas fee will be back to the normal again. That's the possible thing that might happen in order to decrease the gas fee or back it again to the normal prices. Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
because of the density of transactions on the ethereum network and it causes the price of gwei to increase. As a result, ethereum's gas fees went up considerably. Another reason for this problem is also because ethereum prices are high, this causes gas prices to be expensive. the solution I see is network 2.0, but it still can't be done right now.
regardless of ethereum issues, it is fine for other platforms. one of them is BSC, which is an alternative at this time.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
It is because confirmation is like a competition on a transaction fee. The more competition there is (transactions) the higher the fee since they tend to compete on which one will be picked up and included on the block first and to be the first one means bidding (paying) higher on tx fee than other transactions. This is one of the flaws of the current system. If you wanted to have a reduced tx fee, then you need to wait for the network to be uncongested.
you don’t get it, every DeFi project require normal speed to function, all the staking required speed, even the devs itself are resorting to pay high fee to run their DeFi, flee as fast as you could.
Agreed, TPS is everything when it comes to blockchain-based applications. We know that if the blockchain-based applications will be using blockchain as the main thing.Any transaction that's happening in the defi or blockchain-based application
That's why so many new platforms wanna try to fix this problem by providing big TPS. If BSC has slow TPS like ethereum and it will not so popular as now.
So many people didn't even get what's the main purpose of a platform with very good scalability.
All transaction fee in crypto currency will be depend on the user itself. If there is many people who use the altcoin let say ETH then we will see a huge increase for its fee per transaction. As you remember, when ETH price still low it means just a few people who use ETH as their investment place or it means the ETH network is not busy then its fee per transaction is very low and many people just choose ETH than bitcoin to transfer their crypto currency. But now, when ETH price is already high many ETH user complained that. The solution is their developer trying to update with new system, there is some update that ETH developer do before now and give a little change, but it is just for a while. And if I'm not mistaken ETH developer will make new update to resolve this problem.
This is one of the biggest downsides i have ever had with using the ethereum blockchain, and that is because sometimes i have a lot of ERC20 tokens that arent worth much individually but are substantial as a collective, but on the Ethereum network i am always unable to sell due to the high transaction fees.
i really hope ETH 2.0 is released soon and it does something by providing a solution to this problem.
i really hope ETH 2.0 is released soon and it does something by providing a solution to this problem.
In the last 3 days the Gas fees on the ETH network were quite low compared to the weeks before. On sunday and monday the gas price was down to around 65-75 gwei during a few hours. That's like 3$ for an ETH-transfer and 6 dollars for an ERC-20 token Transfer. I mean thats still expensive but at least kinda ok for a normal user like me. Of course those numbers have to come down to below 1$ per transaction in my opinion in order to make ETH an everyday currency for everyone. Uniswap trades and Liquidity providing on uniswap are still expensive with 20$+ even with the low Gwei during the last 2 days.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
You can decrease the gas in your transaction, however it will make your transaction slower. The best way if you are on an exchange and want to send funds from an exchange to another is to use a fast crypto with low fees ( tron, bch, cardano ) and then send your funds and exchange them again.Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Depending on the amount ( it may not always be a good idea ).
ETH gas costs become expensive along with the current eth value of up to 2000 $
This is true and false at once. If you recalculate transaction price to USD, then yes, transactions are extremely expensive. But if you just count gas burned amount, then the transactions cost same as they cost year ago. I'm specially watching transaction cost whole day today, and this morning you might make a successful transaction with 65 gwei, which is the almost regular transaction price of year 2020. However this evening transactions fees are 180+ gwei and this is our bitter reality.
ETH gas costs become expensive along with the current eth value of up to 2000 $, coupled with very high transaction requests per second so that ETH increases its cost price to increase the speed of each transaction, but currently eth party is planning to innovate eth2.0 which is in claims can reduce transaction costs without reducing time efficiency in each transaction, and we are still waiting for certainty when it will be launched.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
There's one reason why Ethereum gas fee will be high and that's because of the Ethereum Network is congested with so many transactions, and the Ethereum doesn't have what it takes to make all those transactions work at a time, so instead the highest fee per transaction gets to be confirmed first, the only this current spike in gas fees can reduce is for Ethereum devs to release eth 2.0, else we will still need to pay those high gas fees. Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Ethereum gas fees are high because the demand is high, just like Bitcoin it's transaction fees are high as well. If the demand decreases then the gas declines its fees so it's either you are going to wait for the demand to lessen or you just have to deal with it's current gas fee that's fairly high.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
It is just simply because there is a lot of transactions being made right now or the demand is high and the network is congested so folks are trying to increase their fees to get prioritize to have a faster transaction.
This problem is the reason why people are having a second thought of choosing this network but I do hope for the release of ETH 2.0 to make changes and fixing the fees problems, that would certainly improve the number of users in the network.
The cost of ethereum gas is high because the price of bitcoin continues to rise so that high demand causes gas to go up, if this continues there is no sign of a decrease in gas costs, the main factor for ethereum gas is high the market has recovered market demand is also getting more competition so transactions take place too automatic fees or ethereum gas are delayed, which is the main benchmark
>>https://bitcointalksearch.org/topic/m.56771151
>but devs as far as I know always using testnet when developing their eth related software
you don’t get it, every DeFi project require normal speed to function, all the staking required speed, even the devs itself are resorting to pay high fee to run their DeFi, flee as fast as you could.
>but devs as far as I know always using testnet when developing their eth related software
you don’t get it, every DeFi project require normal speed to function, all the staking required speed, even the devs itself are resorting to pay high fee to run their DeFi, flee as fast as you could.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
Devs and traders are spending 200+ dollars for a transfer, it’s crazy fee going on, you wonder why devs and traders are fleeing ethereum? Really? Really?
if trader that used high price to get confirmed ASAP then maybe that makes sense but devs as far as I know always using testnet when developing their eth related software and if they used the main network and their code happens to have bug it could drain their eth easily.I think is due to scalability problems within ethereum platform. Its not able to handle many transactions at the moment(TPS) resulting in congestion of network. So to make the transaction up in the queue and faster, fees is increasing exponentially.
Hope soon the price will be reduced.
That's exactly the problem just see this chart https://blockchair.com/ethereum/charts/transactions-per-second and witness how the 15 tps is just simply doesn't cut it anymore and that's why I heard in july the overall TPS will be increased to 100,000 TPS for ETH but don't really know whether that's truly gonna happen. Hope soon the price will be reduced.
demand is high but network is limited. use bsc (binance smartchain) if you intend to swap tokens, lesser fees and faster to some extent. Hopefully eth 2.0 comes out earlier to solve this congested blockchain issue for eth.
Devs and traders are spending 200+ dollars for a transfer, it’s crazy fee going on, you wonder why devs and traders are fleeing ethereum? Really? Really?
In my opinion, it should already be clear to everyone that the high transaction fees in the ethereum network arose due to the high congestion of this network. Even NFT tokens are issued mainly on the ethereum platform. I look forward to July when this issue should go away as a result of the planned implementation of the Ethereum 2.0 improvements. I hope that soon we will see a completely different ethereum coin and its popularity, as well as the price will rise a lot.
main factor that affects the cost of transaction for most of blockchains as I've seen is quite surprisingly the bullrun itself. just see btc for example, it was normal to have 0.0001 required for a transaction fee and now it's not normal anymore because 0.0001 already $6 and also affected by the increase of bitcoin users and therefore increasing the transaction per second as well, that doubles the fee increase for ya! and the same thing happened to ETH, price getting high while the ETH required to pay gas also incerasing.
At this point I think even if the fee problem gonna be resolved with the full release of ETH 2.0 we gonna face the same problem again when crypto reaches astronomically high price.
At this point I think even if the fee problem gonna be resolved with the full release of ETH 2.0 we gonna face the same problem again when crypto reaches astronomically high price.
Still not any chance to se ethereum gas under 1 gwei wher only have 0.0003 ethereum we can send coin to exchange wallet, now minimum you should prepare more than 0.007 ethereum in your wallet to make transaction faster, now many transaction move to bnb but this the same with eth later if BNB raise to higher price.
It should be more than 0.01 eth to be used as gas fees now. You will never the gas price will be going down until the full implementation of EIP. I do agree with your statement about BNB. I have been checking some transactions on binance chain from time to the time and I were seeing the fees were going from 1 cents to the 10 cents and this time each transaction needs at least 35 cents to be confirmed by the block but binance has advantage because it's totally centralized. Scalability solution can be implemented easily.
In my opinion the main factor causing the high ETH transaction fees is because the ETH network is very congested because many transactions are carried out simultaneously, causing the congestion on the ETH network, as we know where the current ETH exchange rate has reached $2130, of course this is very high value, especially transactions carried out in small amounts are very pronounced, I think the etherem must pay the serious attention to this problem, so as not to interfere with the development of the etherem in the future,
As far as I know, high gas fees are caused by the number of transaction within a timeframe.
If there are a lot of transactions happening in the network, it will really make the fee to be up. But as what I've read recently, ETH 2.0 will be a great help to reduce as hasten transaction on the blockchain.
It will and hope that it will really solve scalability issues.Just to ask... how can I able to see how much gas fee will be needed for a particular input?
Your wallet will have its own estimation for your transfer but you can use this website too for checking.(https://ethgasstation.info/)
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Ethereum gas fees are very high lately all because the price of Ethereum is pumping and the network is congested with so many pending transactions, imagine 1,000 people want to make a transaction at a particular time, the Ethereum Network can't handle such so the congestion will make it treat transactions with higher fees as priority and others with lower fees will have to wait. Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
As far as I know, high gas fees are caused by the number of transaction within a timeframe. But as what I've read recently, ETH 2.0 will be a great help to reduce as hasten transaction on the blockchain.
Just to ask... how can I able to see how much gas fee will be needed for a particular input?
Just to ask... how can I able to see how much gas fee will be needed for a particular input?
yes as network fee back again to normal , trader and investors might work with customs on following personal strategy as managing plan that now only traders with high volume might still gains benefit on high fees as relative with the fee scale gives with length on difference.
As of today, the price of gas fees is not that high compared to a few days ago when the price was quite impossible to make a transaction. I can't even send my tokens to some of the exchanges because I am lacking a few $ on gas fees. Now is the chance to send your tokens to the exchanges if you worried about the transaction fees because it could be back later when the Ethereum network will be congested and people are using the network again in a crowd.
Miner couldn’t keep up with the number of transactions need to process, coupled by chip shortage and gpu unaffordable, mining is very challenging it’s all depend on gpu, there is no ASIC that can mine the eth, unlike all other pow coins.
I think that totally depends on the blocksize. The miners will be able processing a lot of transactions at the same time but the problem is the blocksize of ethereum is too small and that makes miners will not able to get more than 15 TPS at the same time. You must see another blockchain that can perform more transaction rather than ethereum chain. The miners have capability to process so many transaction at once.
I think is due to scalability problems within ethereum platform. Its not able to handle many transactions at the moment(TPS) resulting in congestion of network. So to make the transaction up in the queue and faster, fees is increasing exponentially.
Hope soon the price will be reduced.
Hope soon the price will be reduced.
Miner couldn’t keep up with the number of transactions need to process, coupled by chip shortage and gpu unaffordable, mining is very challenging it’s all depend on gpu, there is no ASIC that can mine the eth, unlike all other pow coins.
Still not any chance to se ethereum gas under 1 gwei wher only have 0.0003 ethereum we can send coin to exchange wallet, now minimum you should prepare more than 0.007 ethereum in your wallet to make transaction faster, now many transaction move to bnb but this the same with eth later if BNB raise to higher price.
Ethereum network can currently handle only 15 transactions per seconds 15/TPS. With the level of mass adoption and exponential traffic the ETH network has become very congested hence the need for ETH2.0 which will increase the TPS and cut off the heavy gas fee been incurred. This is already been worked upon, but will take much time to be fully deployed. Reason we have offchain scaling and layer2.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
This topic has been discussed countless of times on this forum, but anyways, the Ethereum high transaction cost has affected alot of both individual users and businesses on the Ethereum blockchain, and the saddest part of this whole thing is That personally, I don't see a near end to this, initially, people said that when ETH 2.0 gets launched, it will help end the high gas cost, but today, whether ETH 2.0 is launched or not, it does not make any difference, the menace keeps getting worse by the day, this have caused many to leave Ethereum and switch to binance chain.
But I believe there's still hope, definitely some day, this whole menace on Ethereum blockchain will become a thing of the past.
But I believe there's still hope, definitely some day, this whole menace on Ethereum blockchain will become a thing of the past.
I think it is because many defi platforms are using ethereum network, see here for top gas users : https://etherscan.io/gastracker
My advice, you should using binance smart chain to avoid high gas in Ethereum. There are many projects already using BSC token as their native token and the gas fee is far better than Ethereum gas fee.
I have to say it is good that there are a lot of places that uses etheruem, that should be what is wanted from ethereum to begin with, having that and not being able to do it for cheaper prices is not an excuse. Defi platforms should be on erc20 and it should be even more, should be tens of billions of dollars more, and there should be daily movements like crazy, more than this and on top of that price should be lesser and cheaper.My advice, you should using binance smart chain to avoid high gas in Ethereum. There are many projects already using BSC token as their native token and the gas fee is far better than Ethereum gas fee.
You know why it is more expensive? Because the more expensive it got the more money people were willing to pay and as long as people are willing to pay that amount the price will go higher and higher, everyone pays 1 more than the previous person to get their coins faster. That cannot be done, it shouldn't be done and that is why I think erc20 will only recover when there is a limit put into how much fee will be charged.
This limits the use of higher fees if the prices had to be slowed down and the post - service price has to settle again, consumption gas charges are very high, which is why it is so high. Investors and Ethereum users will still benefit from this environment. Let's see what will happen after ETH 2.0 launch.
ETH 2.0 is just a delaying tactic and it can be compared to Lightning Network in Bitcoin. Did Lightning decreased the transaction fee for Bitcoin? Even now only around 5% of the users are opting for Lightning. The same will be the case with ETH 2.0 as well. For those who are using ERC-20 Blockchain, be ready to pay higher transaction fee for the foreseeable future. There is not going to be any decrease in the fee once ETH 2.0 is implemented (BTW when they are going to implement it - 2022 or 2023?).
The selling factor of ethereum is starting to increase, and there are also a lot of markets that have sprung up now, plus the public interest is very high, therefore any costs about crypto start to increase..
Lol are you joking about that? selling is not the factor that was making the fees is increasing a lot. The adoption rate of ethereum is growing so hard and that was creating a very big pressure to the ethereum blockchain. Ethereum is under pressure by so many transactions and the block can't process these transactions at the same time. that's why there are lots of transactions getting stuck and people wanna pay more ethereum to make their transaction to be delivered.
I think that you got no point about that.
This limits the use of higher fees if the prices had to be slowed down and the post - service price has to settle again, consumption gas charges are very high, which is why it is so high. Investors and Ethereum users will still benefit from this environment. Let's see what will happen after ETH 2.0 launch.
The selling factor of ethereum is starting to increase, and there are also a lot of markets that have sprung up now, plus the public interest is very high, therefore any costs about crypto start to increase..
Too many transactions are done on the Ethereum network. The reason for the high price of Ethereum is mainly related to the operation of DEFI projects.
Ethereum has a small block size while too many transactions happening on the Ethereum network will cause a dispute between transactions and make a GAS price rise take priority.
If Ethereum is scalable, increasing the number of TPS and block size could help reduce GAS costs.
Ethereum has a small block size while too many transactions happening on the Ethereum network will cause a dispute between transactions and make a GAS price rise take priority.
If Ethereum is scalable, increasing the number of TPS and block size could help reduce GAS costs.
Basically, there are two things that would be the main factors with the high gas problem.
Just like what the other members said, after the launch of ETH 2.0, I believe it would rise even higher in price while giving a solution to the ridiculously high fees per transaction. So while it has that expensive transaction fee, it's not going to reach higher highs yet. Hopefully soon. Probably HODL more ETH.
As an add on, the reason why ethereum gas fee is high,due to following reasons, being high demand in crypto, high value and having many transactions or many uses it. For now, if you're not satisfied in its value and it's gas price, better hold it because for sure it will be given a solution in the right time. There is always a solution in every problem. - Since there is a lot of demand with smart contracts using ETH, it requires a lot more ETH gas to transact and process.
- ETH price is at its ATH
Just like what the other members said, after the launch of ETH 2.0, I believe it would rise even higher in price while giving a solution to the ridiculously high fees per transaction. So while it has that expensive transaction fee, it's not going to reach higher highs yet. Hopefully soon. Probably HODL more ETH.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Increased transactions on the ethereum networkIs there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
In terms of conversion, the USD is currently experiencing an increase because ethereum is also rising in price. to be able to get cheap deals make sure you have to be able to check on https://etherscan.io/gastracker. because every hour it always increases and decreases in a short time. For transactions with low value, for now the problem is that the fee is always increasing
Basically, there are two things that would be the main factors with the high gas problem.
Just like what the other members said, after the launch of ETH 2.0, I believe it would rise even higher in price while giving a solution to the ridiculously high fees per transaction. So while it has that expensive transaction fee, it's not going to reach higher highs yet. Hopefully soon. Probably HODL more ETH.
- Since there is a lot of demand with smart contracts using ETH, it requires a lot more ETH gas to transact and process.
- ETH price is at its ATH
Just like what the other members said, after the launch of ETH 2.0, I believe it would rise even higher in price while giving a solution to the ridiculously high fees per transaction. So while it has that expensive transaction fee, it's not going to reach higher highs yet. Hopefully soon. Probably HODL more ETH.
yes as network fee back again to normal , trader and investors might work with customs on following personal strategy as managing plan that now only traders with high volume might still gains benefit on high fees as relative with the fee scale gives with length on difference.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
1. There are lots of transaction in ethereum blockchain and ethereum blockchain can't handles these transactions and that makes a lot of transaction was getting stuck
2. The price of ethereum is increasing even higher than before and this is also making the transaction fees becomes even higher than before.
Both have become the main reason why fees are so high.
There is a possibility and ethereum developers are working on it.
I think it is because many defi platforms are using ethereum network, see here for top gas users : https://etherscan.io/gastracker
My advice, you should using binance smart chain to avoid high gas in Ethereum. There are many projects already using BSC token as their native token and the gas fee is far better than Ethereum gas fee.
My advice, you should using binance smart chain to avoid high gas in Ethereum. There are many projects already using BSC token as their native token and the gas fee is far better than Ethereum gas fee.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
try using wrapped eth that is in binance smart chain maybe? you're not gonna spending a ton just for fee but if it's erc20 then the only thing you can do is wait and yes, there's rumour going around that in july the fee problem gonna be resolved but keep in mind it could be anytime.
one thing you should try is to monitor the fee and find the time where it's the lowest then you can try making transaction.
one thing you should try is to monitor the fee and find the time where it's the lowest then you can try making transaction.
gas fees from Ethereum will go down when ETH 2.0 is launched and in my opinion what makes gas fees from Ethereum become expensive is because many people make transactions using Ethereum blockchain and I believe if Ethereum has made an update (ETH 2.0), then of course gas fees from Ethereum will become low.
It looks like there have been many discussions about the high cost of Ethereum transactions in this forum thread.but strangely it keeps appearing again.
you need to know that the issue of ethereum gas costs is planned to be completed in July this year. And we don't have to wait until ethereum 2.0 finishes rolling out in 2023 if I'm not mistaken.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
DeFi, IDOs, and the increasing price of Ethereum. DeFi ramps up Ethereum transaction fees to 2018 highs: reportIs there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Ethereum: how to save even more on gas price with a weekly plan
ETH/ERC20 - Check and select good Gas price
Many websites for you to check Ethereum network and recommended Gas price. I think Gas now is one of the best.
You need to read the topic [url=https://bitcointalk.org/index.php?topic=5277890.msg55253979#msg55253979][GUIDE] How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto) to have knowledge and preparation for cases when you need to cancel you low gas price transactions or replace them with higher gas price.
Maybe in the future the fee reduction will take place with the updates. As of now we don't have any other go, today myself encountered the fee issue with ethereum that I never expected. For a transaction of $130 worth of ETH the fee was $14 worth of ETH. This is why people never prioritise cryptocurrency on small scale transactions. Right now Tron is the only asset that provides the best transaction access for low fee with much faster confirmation.
I think this topic have been discussion in many time tread better you read and make your opinion on other tread before have discuss about problem why ethereum gas fee so high, every one know with ethereum have reach above $2,000 and make impact gas higher, if want to see gas eth lower just wait when have chance eth on lower price.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
gas fees from Ethereum will go down when ETH 2.0 is launched and in my opinion what makes gas fees from Ethereum become expensive is because many people make transactions using Ethereum blockchain and I believe if Ethereum has made an update (ETH 2.0), then of course gas fees from Ethereum will become low.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Of you're doing uni trades, try ETH/COIN or even WETH/COIN pairs, as they have the lowest fee's.
Bright side might come in few months with optimism, when we expect to see some price of fee's go down
The smart contract transactions are way too higher than what the Ethereum blocks can digest, and the major firms that are keeping the fee standards high by asking for and paying very high fees are Uniswap and Sushiswap. Though, you can't do anything but to pay high fees or if you've paid low fee, then either wait till gas fee level reduces and reaches your fee area or you need to redo the transaction with higher ETH fee just as you do in BTC.
The same reason as for Bitcoin's fees - the blockspace is limited, the demand is high, so fees go up. It's not possible to do anything about it, just wait for demand to fall and then make your transaction, or suck it up and pay the fee. Unlike Ethereum, Bitcoin is still decentralized due to small blocksize, but ETH got the worst of both worlds - regular people can no longer run nodes because of blockchain bloat, and yet the fees are still very high. Maybe in the future ETH will manage to roll out some new tech for scalability, but it will take many years.
They can't handle the demands of transaction ETH comparing TPS (Transactipn Per Secon) Ethereum can handle that's why people trying to raise their fee to make the transaction got faster confirmed by the chain. Because of that, old transaction stucked while the network is raising keep repeating and make the fee ETH right now from around maybe 0.002-0.005 ETH to more than 0.01 ETH for sending a token.
But estimation USD why they are expensive due ETH right now 2,000$
But estimation USD why they are expensive due ETH right now 2,000$
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
The current high gas price is due to the increased adoption of the 0x smart contract system, where most transactions can't go through the normal channels (scalability problems, etc) but have to go through an intermediary.
When the gas prices will come back down to normal levels is a matter of debate.
Why ethereum GAS fee is so high?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Is there any possibility of fee reduction?
What are the factors are responsible for increasing or decreasing the fee?
Jump to: