Gas fees

[rdluffy]

I think the ETH network always have this issue when the market is facing a bull run, and the high transfer of different tokens makes the network become highly congested, and the demands for faster transfers to take place with the use payment of higher amount for transactions confirmation. I was thinking SOL could be cheaper in a situation where the network is congested, but seems that's not true.

Recently, I have not made any transactions from the ERC network, so I don't really know if the price must have dropped as the rate of transactions as reduced.

I'll resume for you:
In a peak, like the day Trump coin was launched, SOL was congested and people started to make lots of txs in ETH network too, probably rotating the money
With SOL's network you need to try a lot of times to have your tx confirmed, while in ETH you need to pay more gas, but you will have your tx confirmed quickly
Make your choice hahaha

Pay more than 10 USD for a single tx or try a lot of times on Solana 

[Stuart]

I think the ETH network always have this issue when the market is facing a bull run, and the high transfer of different tokens makes the network become highly congested, and the demands for faster transfers to take place with the use payment of higher amount for transactions confirmation. I was thinking SOL could be cheaper in a situation where the network is congested, but seems that's not true.

Recently, I have not made any transactions from the ERC network, so I don't really know if the price must have dropped as the rate of transactions as reduced.

I'll resume for you:
In a peak, like the day Trump coin was launched, SOL was congested and people started to make lots of txs in ETH network too, probably rotating the money
With SOL's network you need to try a lot of times to have your tx confirmed, while in ETH you need to pay more gas, but you will have your tx confirmed quickly
Make your choice hahaha

Pay more than 10 USD for a single tx or try a lot of times on Solana 

Okay. So, if by your statement, it means SOL is more of a trial and error method probably with a stable and fair transactions fee for it's users, or is it with every trail and face error, a fee is taken, and so on, until the transaction becomes a success?
Paying a $10 transaction fee is quite a high one, except, depending on the situation where the quick demands will be highly needed. Otherwise, I'll wait for the stared water to settle.

[vegasus]

I think that change will always happen, especially when the market situation is busy. There will be changes that, of course, we may not like, but there is always an opportunity not to make a transaction if it is indeed considered very high by waiting for the price to drop. The problem is if we need it and inevitably end up doing it even with a high price and there is no choice but to do it. I think everyone knows about this network and there is always a dilemma when the price is high when needed.

Yes, this change will continue to happen. and actually Ethereum has tried several things to reduce the increase in its gas fee, because compared to last season, even at the ETH rate, the transaction fee should have increased that much. and now? Actually, if compared to last season. which is now, it is much lower. the highest is only a dozen. while in the bullrun era last season it was tens or even hundreds. but that's again, if compared to other networks, it is still higher. other networks tend to have more stable fees, lower, but the speed is the same. fast.

[yohananaomi]

I think that change will always happen, especially when the market situation is busy. There will be changes that, of course, we may not like, but there is always an opportunity not to make a transaction if it is indeed considered very high by waiting for the price to drop. The problem is if we need it and inevitably end up doing it even with a high price and there is no choice but to do it. I think everyone knows about this network and there is always a dilemma when the price is high when needed.

Yes, this change will continue to happen. and actually Ethereum has tried several things to reduce the increase in its gas fee, because compared to last season, even at the ETH rate, the transaction fee should have increased that much. and now? Actually, if compared to last season. which is now, it is much lower. the highest is only a dozen. while in the bullrun era last season it was tens or even hundreds. but that's again, if compared to other networks, it is still higher. other networks tend to have more stable fees, lower, but the speed is the same. fast.

The ethereum network has tried several times to fix it so that gas fees can be suppressed, but only at the beginning and after that, they came back again come and it could be that they have tried but have not found the best formula, especially with its high value and very many transactions. It will be very difficult to suppress costs immediately.
Agree, indeed, if we compare it with the current network which is growing a lot, and they are able to suppress it as cheaply as possible with very good speed.

[pieppiep]

I think that change will always happen, especially when the market situation is busy. There will be changes that, of course, we may not like, but there is always an opportunity not to make a transaction if it is indeed considered very high by waiting for the price to drop. The problem is if we need it and inevitably end up doing it even with a high price and there is no choice but to do it. I think everyone knows about this network and there is always a dilemma when the price is high when needed.

Yes, this change will continue to happen. and actually Ethereum has tried several things to reduce the increase in its gas fee, because compared to last season, even at the ETH rate, the transaction fee should have increased that much. and now? Actually, if compared to last season. which is now, it is much lower. the highest is only a dozen. while in the bullrun era last season it was tens or even hundreds. but that's again, if compared to other networks, it is still higher. other networks tend to have more stable fees, lower, but the speed is the same. fast.

The ethereum network has tried several times to fix it so that gas fees can be suppressed, but only at the beginning and after that, they came back again come and it could be that they have tried but have not found the best formula, especially with its high value and very many transactions. It will be very difficult to suppress costs immediately.
Agree, indeed, if we compare it with the current network which is growing a lot, and they are able to suppress it as cheaply as possible with very good speed.

Minimising gas costs on a network that has already established a vast network and high use of transactions is, in fact, challenging. Any alteration will certainly take sometime to bring out the best out of it. However, three key factors which include costs, the number of users, the transaction demand as well as technology have been considered for their role in shaping its success. However, other ones that are newer, do have merit in the fact that they are more efficient as they are constructed with better planning in mind. Although it is still quite stable and has a versatile ecosystem in a narrower focus, further evolution may pay off in the future. Hoping for an improved current condition, it can be maintained that the general goals of a cheap system are still in progress and the obstacles presented above will always be among the features that form the very nature of the technology’s advancement.

[rdluffy]

Enjoy the low fees guys:


Source: https://etherscan.io/gastracker


Finally some "cheap" fees to make some bridges that I need to do hehehe
Just sent some ETH from ETH to Abstract for a good fee 

[Stompix]

Okay. So, if by your statement, it means SOL is more of a trial and error method probably with a stable and fair transactions fee for it's users, or is it with every trail and face error, a fee is taken, and so on, until the transaction becomes a success?

Transactions on SOL don't fail because of traffic when the network is running normally, they all should have configured rebroadcasting and max retries it's the dumb smart contracts that are getting trashed, purely sending sol to sol from one exchange to another has no reason to fail except whether a badly configured wallet or an RPC server, with the meme coins that are being swapped, that's a whole different thing, I'm not even going to touch that, it's such a mess with no solution other than staying away from things like raydium while doing low liquidity meme coins or be in world of pain.

To be honest, there's no point in even trying to understand it now, just take the plunge or stay on the side, they have managed to draw themselves in a corner with nodes requiring datacenter level computing power,  drama over the tpu role, the voting spam required to keep blocks alive and so one it's a never-ending story.

Again, in theory, the TPS of solana should not have a problem with 1 million meme coins, in reality....d'oh!

[Vx1]

Enjoy the low fees guys:


Source: https://etherscan.io/gastracker


Finally some "cheap" fees to make some bridges that I need to do hehehe
Just sent some ETH from ETH to Abstract for a good fee 

Yes, this is very cheap in my opinion, indeed the Ethereum Gas fee is also fluctuating. So if we want to make a transaction if the condition is not urgent, then we can wait for the Ethereum Gas to go down first before making the transaction. But sometimes because of urgent needs, we can't wait for that moment so whatever the price of Ethereum Gas is, we still go for it.

[bitmover]

Enjoy the low fees guys:


Source: https://etherscan.io/gastracker


Finally some "cheap" fees to make some bridges that I need to do hehehe
Just sent some ETH from ETH to Abstract for a good fee 

Yes, this is very cheap in my opinion, indeed the Ethereum Gas fee is also fluctuating. So if we want to make a transaction if the condition is not urgent, then we can wait for the Ethereum Gas to go down first before making the transaction. But sometimes because of urgent needs, we can't wait for that moment so whatever the price of Ethereum Gas is, we still go for it.

I think now is the time to make any transaction you plan to do at any time.
1.500 gwei is extremely low compared to some months ago.

Unfortunately,  I have made already i transactions i needed. I will just wait ethereum reach 10k to make new transactions

[rdluffy]

I think now is the time to make any transaction you plan to do at any time.
1.500 gwei is extremely low compared to some months ago.

Unfortunately,  I have made already i transactions i needed. I will just wait ethereum reach 10k to make new transactions

Hehehe, if ETH reach 10k be prepared to pay 10 USD for a swap or 100 USD for a contract 
I miss the POW ethereum when I made some good eth with high fees, now I just pay the fees and wait for good moments to transact in ETH network

I guess in some hours we can see 1.5 or even less fees, and February used to be a good month for ETH, maybe the fees will go higher

[Gposas]

Have you also noticed how high gas fees are lately? $4 for eth transfer and also $16 for other erc20 token transfer why?

The Ethereum ERC20 network has always had an exorbitant gas fees compared to other networks even before this bull run that just occured.
Though the gas fee increased not only for Ethereum but there was also an increased gas fee for BTC too due to traffic on the Blockchain but I guess everything is settled for the now.

If I am transferring assets from my exchange to wallet, I prefer using other Blockchain Networks rather than ETH.

[pieppiep]

Enjoy the low fees guys:


Source: https://etherscan.io/gastracker


Finally some "cheap" fees to make some bridges that I need to do hehehe
Just sent some ETH from ETH to Abstract for a good fee 

Yes, this is very cheap in my opinion, indeed the Ethereum Gas fee is also fluctuating. So if we want to make a transaction if the condition is not urgent, then we can wait for the Ethereum Gas to go down first before making the transaction. But sometimes because of urgent needs, we can't wait for that moment so whatever the price of Ethereum Gas is, we still go for it.

Usually this very cheap gas provides an answer to those who complain about the transaction costs on the Ethereum network which were quite high some time ago. At least we should take advantage of this cheap gas cost moment to increase the transfer of assets to the network that we have. Maybe Axie Infinite game players and other games based on the Ethereum network will take advantage of this opportunity well. Hopefully with this very reduced gas cost it can trigger an increase in the price of Ethereum higher than it is now.

[Gurujebs]

Usually this very cheap gas provides an answer to those who complain about the transaction costs on the Ethereum network which were quite high some time ago. At least we should take advantage of this cheap gas cost moment to increase the transfer of assets to the network that we have. Maybe Axie Infinite game players and other games based on the Ethereum network will take advantage of this opportunity well. Hopefully with this very reduced gas cost it can trigger an increase in the price of Ethereum higher than it is now.

There was a time a debate of scaling becomes a top discussion in this group but everyone was busy saying layer this and that will help faster Ethereum chain but I think the people (adoption) has spoken. They prefer Solana than all this complicated later 2 solutions and all this roll up because only a tech savvy person will want to use such, unlike Solana network.

Some people are busy saying Solana is adopted because of meme coins and I ask the question, where did the meme coins star from? Is it not from ethereum but the fees made everyone run to BSC before they finally stay at Solana chain but they must say what to make them better since they hold ETH.

[bitmover]

I think now is the time to make any transaction you plan to do at any time.
1.500 gwei is extremely low compared to some months ago.

Unfortunately,  I have made already i transactions i needed. I will just wait ethereum reach 10k to make new transactions

Hehehe, if ETH reach 10k be prepared to pay 10 USD for a swap or 100 USD for a contract 
I miss the POW ethereum when I made some good eth with high fees, now I just pay the fees and wait for good moments to transact in ETH network

I guess in some hours we can see 1.5 or even less fees, and February used to be a good month for ETH, maybe the fees will go higher

In 2021 i have paid 80 usd for a Link > usdt swap! I used uniswap. It was ath...

Dark times! And it was worth it. So, unfortunately,  fees can skyrocket for a long time...

[Vx1]

Usually this very cheap gas provides an answer to those who complain about the transaction costs on the Ethereum network which were quite high some time ago. At least we should take advantage of this cheap gas cost moment to increase the transfer of assets to the network that we have. Maybe Axie Infinite game players and other games based on the Ethereum network will take advantage of this opportunity well. Hopefully with this very reduced gas cost it can trigger an increase in the price of Ethereum higher than it is now.

Yes of course, this moment must be utilized if we are using this Ethereum network. Actually, if I notice, ETH gas is not too expensive lately compared to before.
Maybe the Ethereum network is not as dense as it used to be, because along with the growth of cryptocurrency until now, many new Blockchains have grown, where they compete to provide the best service to the community including this Gas cost.