Topic: Why is gas fee so high? (Read 563 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.
Yes you are right and exactly that is the reason. The congestion that is overcrowd has made the cost really high and for this the fee is high too.
Today, the cost of a transaction in the Ethereum network has decreased significantly compared to the previous week, and immediately managers of bounty companies began to distribute coins for the bounty.Much depends on the price of gas.
I think for the problem it's possible that the submissions are quick to progress and this will minimize the risk, and this makes the token security when the delivery is done.
The problem is there is a new exchange site that has created a new voting system that used ethereum platform to submit their vote through create any transaction. They are in the competition to send more and more transaction anytime and that's the real reason behind that.
I think for the problem it's possible that the submissions are quick to progress and this will minimize the risk, and this makes the token security when the delivery is done.
The number of projects on the Ethereum is constantly growing, and it looks like the network is heavily loaded. I hope that this pack of whales is purchased and we will soon see a cryptcurrency flight to the moon. 
It depends on the price of Ethereum and the network load. If ETH will cost more than $ 2,000, then the commission will be even greater.
As the trading volume increases, gas will increase rapidly, the recent Gas Gap is believed to most of the ICOs allocate tokens to the investment and bouty members.
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 when there are several transactions on the network, there is bound to be congestion
all you need to do is raise your gwei high up and moderate the gas fee, it would cost about 1$ - 2$ but it is still relative cheap compared to withdrawal fees on exchange sites
so there is no need to complain.
Yes, the Ethereum network is congested that is why every transaction now attracts a higher gas fee. We experienced same thing few months ago. So it is normal to happen on the Ethereum network once in a while. It is even getting better as of today compared to how it was about six days ago.
The participation of the people in the crypto currency market is quite high. This have caused a jam packed situation in the market. As a result, the price of the gas of ETH has increased. The recommendation for them would be to update their site in order to avoid such troubles.
The number of people in the crypto currency market is very high. A lot of people has made the market congested. This might contribute to the increase in ETH gas prices. It is better for ETH to update their site and place in new solutions to solve this problems. If solved it will encourage new investors.
Gas fees is so high because the traffic of transaction are congested. Therefore they need a high has inorder your transaction to be process easily.
There are so many reasons behind this. I think this project works for their development that’s why gas fees are rising. Now wait and see how this system will work. It’s the big question.
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, there is a high traffic in the ethereum blockchain but everything is back to normal now. I mean the transaction fees is not that high anymore if send erc-20 tokens. they says that the etherium blockchain is congested.
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It is because there are so many transactions on the Ethereum blockchain.
Something like happened to Bitcoin last year, when fees were about 50USD per transaction.
Something like happened to Bitcoin last year, when fees were about 50USD per transaction
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We are hearing complain about high gas price of this token. This is really a problem but we all know that the reason for high gas price is congestion. The Ethereum is very much congested and so the gas price is high here. I hope that eth will update their solutions and then the price will be reduced.
This may be caused by the listing of some exchanges, which led to the excessive circulation of Ethereum and some tokens during a certain period of time. They need to transfer tokens to these exchanges to get a chance to vote.
I don't believe now on Ethereum exchange they had numerous problem if you going to look on their wallet it's all congested. I don't what will Vitalik will do in his project. This is extremely exhausted! hope they can fix it
There are a lot of reason and first etherium network. If you do not pay high gas you can not do your transaction. 2 days ago, mine transaction was cancelled
This may be caused by the listing of some exchanges, which led to the excessive circulation of Ethereum and some tokens during a certain period of time. They need to transfer tokens to these exchanges to get a chance to vote.
The reason why whole ETH network gas fee is so high because Fcoin gpm listing forces all candidate companies to use massive gas fee to airdrop to Fcoin accounts to create that deposit vote number, each day top 5 gets listed, then count from 0 again
source: https://www.reddit.com/r/ethereum/comments/8v8v5d/the_reason_why_whole_eth_network_gas_fee_is_so/
past few day more than 80 gwei per transaction, today already reduce to below 20 gwei, so try to send your tokens now, if not maybe gwei will increase later
source: https://www.reddit.com/r/ethereum/comments/8v8v5d/the_reason_why_whole_eth_network_gas_fee_is_so/
past few day more than 80 gwei per transaction, today already reduce to below 20 gwei, so try to send your tokens now, if not maybe gwei will increase later
Its a scaling issue and looks like casper will provide a solution for this.
It was already a big problem Etheruem had to deal with. If high gasoline prices do not come down, there will be many projects that choose other main chains
Yes, I think the reason you made it is true, because the ethereum blockchain is congested that makes gas fee expensive than before.
they says that the etherium blockchain is congested.
Yes, this is the very reason why gas fee's high.You may now close this thread, at left bottom theres the "Lock Topic" button.
You pretty much answered your own question, It is congested. Until Eth updates with it's new solutions in the next few months, this will probably be the price you will have to pay.
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.
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