Content
@
0 reply
26 recasts
27 reactions
Mikhail
@sleepymishka
Since the start of the bull market in 2020, the Ethereum blockchain has experienced a significant increase in network fees, which rarely fell below $3 per transaction, reaching hundreds of dollars at times of peak activity. The founder of the second largest cryptocurrency by capitalization, Vitalik Buterin, called the situation a security threat to the entire network, calling for reform of transaction mechanisms. Network fees on the Ethereum blockchain are determined by market demand for processing transactions on the network. At times of increased user activity, the cost of operations can rise to enormous levels. The transaction fee also depends on its complexity. A regular token transfer will be a simple transaction, but interaction with decentralized finance applications is more complex. The difference in prices can exceed hundreds of times.
0 reply
0 recast
0 reaction