Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Zed0X on April 25, 2021, 08:14:13 AM
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It seems like many users here are not yet updated to the recent developments in Ethereum blockchain specifically the gas changes.
If you haven't noticed yet, the gas price had been reduced to 36-46 gwei and gas fees to $1-$2 for transferring ETH.
(https://i.ibb.co/HVxVt2J/Untitled.png) (https://etherscan.io/gastracker)
In case you are wondering why, the reduced fee was due to the Ethereum miners raising the gas limit to 15 Million from the previous 12.5 Million. What this means is that each block can now accommodate more transactions/data which helps reduce network congestion.
As you can notice, fees over smart contracts also decreased. You can now transfer erc-20 tokens at a lesser cost compare to the previous weeks/months.
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This made me quite curious. Here are the possibilities that I think of:
+ The market has passed a strong correction, the number of transactions/swaps has decreased;
+ Binance, the world's largest exchange, is currently being upgraded;
+ A large number of users have switched to other blockchains such as TRON, BSC, NEO, WAVES...
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+ The market has passed a strong correction, the number of transactions/swaps has decreased;
+ Binance, the world's largest exchange, is currently being upgraded;
+ A large number of users have switched to other blockchains such as TRON, BSC, NEO, WAVES...
The reason is more on the technical side rather than those you mentioned. The increase in gas limit was suggested by Vitalik citing that the Ethereum blockchain is more secure now and can manage the risk.
You can also see from the charts that the daily eth and erc-20 token transfers is on the rise:
- https://etherscan.io/chart/tx
- https://etherscan.io/chart/tokenerc-20txns
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+ The market has passed a strong correction, the number of transactions/swaps has decreased;
+ Binance, the world's largest exchange, is currently being upgraded;
+ A large number of users have switched to other blockchains such as TRON, BSC, NEO, WAVES...
The reason is more on the technical side rather than those you mentioned. The increase in gas limit was suggested by Vitalik citing that the Ethereum blockchain is more secure now and can manage the risk.
You can also see from the charts that the daily eth and erc-20 token transfers is on the rise:
- https://etherscan.io/chart/tx
- https://etherscan.io/chart/tokenerc-20txns
high gas prices are not so heavy on the user if a sufficiently expensive asset has to be transferred. Based on this, I believe that the Ethereum platform will become a platform for the most promising projects, as many have already baptized this club with VIP projects.
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high gas prices are not so heavy on the user if a sufficiently expensive asset has to be transferred. Based on this, I believe that the Ethereum platform will become a platform for the most promising projects, as many have already baptized this club with VIP projects.
What are you even talking about?
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Yes, I notice it that ethereum gas price is now below 50 gwei. Ethereum gas price has not been below 100 gwei for the last few months. But now the market is in dip, the gas price may go down for that. If the gas price is low after the correction of the market, then we can understand that the gas price has actually decreased.
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Yes, I notice it that ethereum gas price is now below 50 gwei. Ethereum gas price has not been below 100 gwei for the last few months. But now the market is in dip, the gas price may go down for that. If the gas price is low after the correction of the market, then we can understand that the gas price has actually decreased.
You can look at the charts and compare the previous market corrections to the current one. You'll see that gas price during those times didn't drop below 50 Gwei. You can also observe the daily transactions over the Ethereum network from the links I posted above.
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If there is a problem with the Ethereum platform, it is that the additional transaction is free. At present, however, Ethereum's excess gas fee has been greatly reduced.Because for some time now there has been a fair amount of transactions from the Ethereum platform. I am very happy because Ethereum's gas fee has come down a lot.
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If there is a problem with the Ethereum platform, it is that the additional transaction is free. At present, however, Ethereum's excess gas fee has been greatly reduced.Because for some time now there has been a fair amount of transactions from the Ethereum platform. I am very happy because Ethereum's gas fee has come down a lot.
I think not only you are happy but also all crypto lovers are happy now for recent low gas fee. Actually I can not guess why Gas fees was so high and why going previous position as ETH 2.0 is now same condition that is they are not fully prepared in market. So my question is why we lost so many fees in middle time? But at the end we are always happy to see this low fees.
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If there is a problem with the Ethereum platform, it is that the additional transaction is free. At present, however, Ethereum's excess gas fee has been greatly reduced.Because for some time now there has been a fair amount of transactions from the Ethereum platform. I am very happy because Ethereum's gas fee has come down a lot.
I think not only you are happy but also all crypto lovers are happy now for recent low gas fee. Actually I can not guess why Gas fees was so high and why going previous position as ETH 2.0 is now same condition that is they are not fully prepared in market. So my question is why we lost so many fees in middle time? But at the end we are always happy to see this low fees.
in any case, I most of all use assets that are stored on erc20 and are valued quite high in the cryptocurrency market. Based on this, the commissions that are in the Ethereum network are not large for me. Perhaps this is why many bad projects run away from the Ethereum platform, as no one pays attention to them due to the high fees, as well as such low prices for their tokens.
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The news that you have shared will be especially pleasing to those who are most interested in transacting from the Ethereum platform.However, I am very happy because Ethereum's gas fee has returned to normal. Hopefully Ethereum's gas free will remain normal like this forever
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~ Hopefully Ethereum's gas free will remain normal like this forever
There is no such thing as forever in a market that's heavily driven by demand and supply. If the number of users doubles, it's likely that it will exceed capacity. The more transactions/volume done on a particular blockchain (Ethereum in this case), the more it gets congested. The more congested, the higher the fees.
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It seems like many users here are not yet updated to the recent developments in Ethereum blockchain specifically the gas changes.
If you haven't noticed yet, the gas price had been reduced to 36-46 gwei and gas fees to $1-$2 for transferring ETH.
(https://i.ibb.co/HVxVt2J/Untitled.png) (https://etherscan.io/gastracker)
In case you are wondering why, the reduced fee was due to the Ethereum miners raising the gas limit to 15 Million from the previous 12.5 Million. What this means is that each block can now accommodate more transactions/data which helps reduce network congestion.
As you can notice, fees over smart contracts also decreased. You can now transfer erc-20 tokens at a lesser cost compare to the previous weeks/months.
Yes, brother, I got into a lot of trouble a month ago when I went to make a transaction with the gas fee.Many have benefited greatly from the gas fitase coming down from 35-36 to 1,2By doing so, I think the demand for etherium will increase a lot in the crypto market.The investment rate has increased a lot lately. I myself am currently willing to make a big investment on Etherium.