Topic: Why is gas fee so high? (Read 554 times)
In transactions, there are incomprehensible actions, they push the cost of gas to the top. The cost of gas increases, people continue to pay for it, the situation can get out of control in this way.
as we know now the gas fee to send of a token is very high. what will be the reason?
they says that the etherium blockchain is congested.
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Apparently, higher Ethereum transaction costs must have a cause. As of right now, there are a lot of speculations regarding newly developed Crypto-exchanges spamming the Ethereum blockchain with transactions due to their voting process(es). It is possible that it’s indeed causing a hefty increase in the number of transactions, and it highlights the need for a scalable blockchain. If this situation continues, such high gas prices will become the new normal and cause a lot more issues down the line.
they says that the etherium blockchain is congested.
[/quote
Apparently, higher Ethereum transaction costs must have a cause. As of right now, there are a lot of speculations regarding newly developed Crypto-exchanges spamming the Ethereum blockchain with transactions due to their voting process(es). It is possible that it’s indeed causing a hefty increase in the number of transactions, and it highlights the need for a scalable blockchain. If this situation continues, such high gas prices will become the new normal and cause a lot more issues down the line.
If you are writing about Ethereum, it is safe to say Ethereum is the most arguably the cheapest coin to transact right now in the cryptocurrency market. I spent one gwei which is equivalent of $0.01 on a transaction per time.
This was due to the fact that people making transactions did not set prices manually on GAS and it continued to rise.
I also believe that a very large demand that's why this price tag . but I think will not last long
You have already explained to yourself, because the channel is too congested, and even Ethereum did not think of it at the beginning of its creation. They now have such a large user volume!
Yes, you are right. The ethereum network is congestive right now. For this reason, the gas price is very high now.
This was bound to happen with all these new ICO using ETH as base model for all new cryptos. Soon it will be unusable as fees will be too high. Hopefully they will think of a solution to fix this congestion.
That spike in the network was insane. I accidentally put in a transaction at 7gwei and it took 4 days. She finally got through but I was sweating bullets for those 4 days.
as we know now the gas fee to send of a token is very high. what will be the reason?
they says that the etherium blockchain is congested.
yes I agree with you because the gas to send tokens is very high hence from nowadays gas becomes expensive, let alone what I see now altcoin price decreased crypto market also not good let alone nowadays more gas becomes expensive all go down and ride simultaneously so from now on many people are confused about getting money from where if all declined they says that the etherium blockchain is congested.
The Gas fee was so high because of Fcoin, Fcoin is a Chinese exchanges and they hosted a community vote to list their favorite coins and they are required to send transaction which cause a heavy load on the ethereum network.
I will not disagree with it completely, the gas price is quite high even you can't do you transactions if you don't pay high gas fee. this kinds of situation happens because of many circumstances special for our transaction, but we can hope that It will not last for very long , let's see where situation take us to
It's due to a lack of competition at this particular moment causing too many people to use ethereum. When ICOs start to use NEO or LISK instead then ethereum will calm down and run more smoothly with less projects on it.
I think this is due to the fact that many market participants buy Ethereum. The price is quite attractive now and if there is a possibility, it is necessary to buy!
1I have read and heard the same as others in the forum have told. It is because the network had a very high traffic or is congested. And it will take more time to transact with the ethereum platform and because of these it will be hard to mine all. Lesser gas fee will result to your coins getting less or maybe the least prioritize transaction.
Recently, the price of gas has not changed, the growth was only when crypto cats came into force. Then the price of the transaction was the horse. Now everything is normal
Not certainly in that way. The network is often overloaded during large-scale ICOs or votings. But soon the network comes back to normal, it is necessary to wait a little. At the current price of ETH, the price of one transaction is small, but what will happen when ETH rises in price and the simplest transaction will cost several dollars ...
Recently, the price of gas has not changed, the growth was only when crypto cats came into force. Then the price of the transaction was the horse. Now everything is normal
as we know now the gas fee to send of a token is very high. what will be the reason?
they says that the etherium blockchain is congested.
they says that the etherium blockchain is congested.
Yes, I hear the current cost of gas has increased.
but I still have not made any trade transactions or moved altcoin on my wallet. I guess this is due to network congestion on the ethereum
I came to the purse a lot of different coins for 1-2 tokens. There are rumors that this is a PR of the new stock exchange, I think because of such mailings the cost of the transfer is high
I think that the Ethereum network is overloaded with too many projects that rely on operation on-chain and is simply not ready for real gas guzzling dapps including games.
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