Ethereum high gas fee is as a result of network congestion. Initially Ethereum was supposed to be better than bitcoin in terms of cost of transaction because Bitcoin is designed to handle 4.6 transactions per second (TPS) while Ethereum is designed to handle 15 - 20 transactions per second. Transactions above these range will lead to network congestion and high gas fees because it is no longer within the normal design range. Binance Smart Chain (BSC) can handle 55 to 60 TPS on average, and also has much lower fees than Ethereum. There is also scalability issues with Bitcoin and Ethereum because they are designed to operate on Proof of Work.
Currently, numerous tokens are built on BSC network because of its low transaction fee. Other coins that have low transaction fees includes, Tron, Cardano, Solana, etc. If you have no option, then you need to monitor Ethereum gas fees, because there times the gas fees can be low. We hope Ethereum will soon launch Ethereum 2.0 which we expect will operate at lower transaction frees.
There are new innovations as regards transaction speed in the crypto space. Bitgert blockchain can carry out transaction at 100,000 TPS faster than Solana. (https://www.analyticsinsight.net/cardano-transaction-speed-per-second-is-250-while-bitgert-transaction-speed-is-100000-per-second-faster-than-solana-avalanche-or-matic/).
Topic: Why Gas Fee is too High? - page 5. (Read 616 times)
Which gas fee? You need to specify this. People's complaints are mostly about Bitcoin and Ethereum. Bitcoin and Ethereum gas fees are determined by users' demands. The capacity of the network is certain (https://i.ibb.co/gJBS1Ty/BITCOIN-AND-ETHEREUM-VS-VISA-AND-PAYPAL-TRANSACTIONS-PER-SECOND.png). Those who want to get ahead when capacity is tight pay more gas fees. When everyone races to pay more gas fees, the gas fee increases even more. As a result, users' demand determines gas fee.
So what blockchain? if this related with ethereum and is not it the lowest since first quarter of this year? Im not even seeing what's your point in this case and what blockchain that you have been talking about. Seeing you are mentioning the gas fees and that's about ethereum blockchain. I need to remind you that when you are seeing the fees is very low caused by network was empty. People are using another blockchain to do their daily transaction to avoid ethereum gas fees but these days it's surprisingly worth a few dollars to send a transaction.
The gas is not too high like what you have said above and you may need to visit etherscan again to make sure if you're wrong.
The gas is not too high like what you have said above and you may need to visit etherscan again to make sure if you're wrong.
Yesterday I saw on the speculation altcoin board Why is Ethereum fees going down in this days?, he said obviously the ethereum fee is down, I wasn't there to review the situation but according to yesterday's data to today increased almost 2x. The increase today is due to the dense network, as usual when the gas went down yesterday there will be a lot of transactions too.
The gas fees is quite small right now and how can you say that if the gas fees was too high? It's not the same like a few months ago when you would be forced by the network to pay at least a few hundreds dollar for a single swap transaction in the network. This can be said that if this time the gas fees on ethereum blockchain is low compared when there are lots of traffic in the network. I was able sending an ethereum transaction with pay less than 6 bucks fees.
This is an amazing thing that is happening with ethereum but this can also increase again when the network will be flooded again in the future. This shit is not going anywhere. We are always expecting the next update to come but the fear was triggering the fees to go down. This is the second that happens with ethereum network.
This is an amazing thing that is happening with ethereum but this can also increase again when the network will be flooded again in the future. This shit is not going anywhere. We are always expecting the next update to come but the fear was triggering the fees to go down. This is the second that happens with ethereum network.
After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.
With this, I'm able to express my feelings.
With this, I'm able to express my feelings.
As others in this thread already said, the high gas prices on the Ethereum chain since 1 or 2 years is one of the most discussed topics in the whole crypto space and also on this forum so if you do some searching you will definitely find at least a few threads where this topic has already been discussed. The reason why the gas prices are that high is quite simple. The Ethereum network is just not able to handle all the transactions at once. In the last few weeks the gas prices was quite ok as it was always between 20 and 80 gwei but during big market movements we already saw prices of 300 gwei or even more which is just absolutely ridiculous.
eth is indeed famous for its expensive network fees when compared to other tokens
but projects that are on the eth network usually have good projects. because the developer will not create a scam project using the eth network because of the high cost
Dense transactions on the eth network also make gas prices expensive. hope it can be fixed in eth 2.0
but projects that are on the eth network usually have good projects. because the developer will not create a scam project using the eth network because of the high cost
Dense transactions on the eth network also make gas prices expensive. hope it can be fixed in eth 2.0
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Blocks are the place where we store transaction data like timestamp, hash etc. Each block has limited number of space. Bitcoin block has 1 MB space and ETH block has 80KB of space in each block. So, when there are a lot of transactions going on, you can't add all them due to the lack of space. For that, when there are more transaction than the capacity, we see a fight of fee on the network. The more fee you pay, the faster your transaction get confirmed. That's the reason for the increase of gas fee.
After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.
With this, I'm able to express my feelings.
With this, I'm able to express my feelings.
It looks like you are late though, there's a lot of complains about ETH's high gas fees,
https://bitcointalksearch.org/topic/why-are-ethereum-gas-fees-ridiculously-high-5377209
https://bitcointalksearch.org/topic/eth-high-gas-fee-5293400
https://bitcointalksearch.org/topic/why-gas-fee-is-too-high-5382553
https://bitcointalksearch.org/topic/--5356571
Maybe you can go find the answers on that thread. And perhaps you can also learn what will be the best alternative right now so that you won't spend such high gas fees with ETH network.
I stopped using Ethereum chain ever since it's fees grows substantially. You will just end up wasting a lot of money before your transaction goes thru.
I can still remember the day I spent $20 for 1 transaction just because it keeps on failing and so I keep on repeating it. Tried to put a higher fee and it was successful. Imagine that, pay more to be served well. I don't like that kind of behaviour so I'd be better off another chain.
Explanation would be traffic and because they are updating to POS.
I can still remember the day I spent $20 for 1 transaction just because it keeps on failing and so I keep on repeating it. Tried to put a higher fee and it was successful. Imagine that, pay more to be served well. I don't like that kind of behaviour so I'd be better off another chain.
Explanation would be traffic and because they are updating to POS.
Well ETH gas fees are always high tbh. They will be untill we finally get ETH 2.0 but untill then i'd just look at alternatives on cheaper networks. i've been looking into this gambling project called #Lunafi which is built on Polyqon (Matic) network, not really sure if i'm gonna invest in them but they do look promising and the gas prices are cheap as hell. Any thoughts on #Lunafi ?
After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.
With this, I'm able to express my feelings.
As I remember, the increase of the ETH gas fee issue started after the 2016 Bullrun (correct me If I'm wrong), and after that, we never see it turning back low again until now. Investors and traders had been complaining about this, Mr. Butterin announce a hard fork and we think it was the solution, in fact, people are hoping for it but unfortunately, it is still no change, and the issue in regards to high fees remains. With this, I'm able to express my feelings.
I guess you need to look for another option to move your ERC-20 token. May you consider BSC and Polygon at this time.
https://www.makeuseof.com/ways-reduce-ethereum-gas-fees/
After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.
With this, I'm able to express my feelings.
If you have tokens running on the ETH blockchain you have some alternatives to run them over BSC like blockchain but its very limited and not easy for everyone so switching from ETH blockchain is the only solution unless or until ETH run by PoS module. With this, I'm able to express my feelings.
Now we can say that fees are not as big as they used to be, but they are still expensive because the Ethereum blockchain is 100% loaded with all sorts of games, defi and swaps. The network is very heavily loaded and therefore fees are going up. I think paying more than $10 to exchange or transfer tokens is very expensive. Seems like the situation will change when they change consensus to POS, we'll see.
After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.
With this, I'm able to express my feelings.
With this, I'm able to express my feelings.
the main reason is the density of transactions on the network. this is the main problem with ethereum that has not been resolved so far. no solution yet and don't know how long this continues. my only hope is 2.0, but from what I've seen it's still no sign of a release anytime soon.
I never understood why people still use ETH as there the fees are insane. It was suppose to be a cheaper alternative to BTC but it turned out that it's even worse in scaling and fees skyrocketed. Aside of Bitcoin , until now I see no other better chain alternative to ETH then Binance BSC.
We'll see what will happen after the PoW is replaced, but then the whales will play a big role.
We'll see what will happen after the PoW is replaced, but then the whales will play a big role.
There have been many post made about the sudden gas increased maybe you could search around the board to read more. as a new user you need to make yourself familiarized with this thread here before going further asking question that could lead to sanction 
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After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.
With this, I'm able to express my feelings.
With this, I'm able to express my feelings.
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