Why in Ethereum jumped so transaction fees?

In recent years, the cost of transactions ETH significantly increased. And we are talking about growth rates of a few tens of percent, and at times. The problem was studied by the staff of the analytical company Weiss Ratings, which regularly conducts research within the industry of cryptocurrency. By the way, according to them, all these inconveniences will fix is that the transition to Proof-of-Stake.

Commission Ethereum are really great. Today, the minimum recommended cost of gas for the transaction is 34 gwei or 0.148 dollar. Thus when in the network there is no problem with the workload, the figure is 1-2 gwei. For fast transaction resource ETH Gas Station recommends that you set the price of gas at 52 gwei.

Here is a screenshot of ETH service Gas Station that shows the recommended price of gas.

The recommended cost of gas on may 21

That is, in the end have an excess of the commissions rules dozens of times — and it shows.

According to experts of the analytical company of Weiss Ratings, to the list of reasons for the increase in commissions in network Ethereum are stabilini on the basis of this blockchain.

Stabilini interfere with Ethereum

Currently, the average Commission for the conduct of ordinary transactions in the network Ethereum reaches 0.14 dollar. If the user wants to transfer processed with maximum speed, he will have to pay a minimum of 0.22 dollar.

Here is a comment of representatives of Weiss Ratings.

Commission Ethereum are much more, partly this is to blame stabilini on the basis of cryptocurrency. This is great news for miners, but bad for users.

The logic is simple: the network Ethereum limited bandwidth, i.e. the maximum number of transactions undertaken. The more network resources consume different stabilini and smart contracts are, the slower it works. As a result, users have to pay more to have their transactions carried out faster. This also affects the growth of the average size of transactions.

According to the service ETH Gas Station, the first place among smart contracts is stablein Tether which users are responsible for a large burden on the network.

Leaders in gas consumption in the network Ethereum

In second place is MMM, which is positioned as a sequel of a financial pyramid of Sergei Mavrodi. It is already marked as a Scam, but continue to demand and consume network resources.

In this situation it is the Ethereum miners benefit because their income from commissions increased. But ordinary users have to pay more for transfers ETH. Analysts believe that to solve the problem will be possible only in a radical way — an upgrade to Ethereum 2.0.

The Ethereum becomes more popular every day, but he really needs an upgrade to version 2.0. Otherwise, the network of cryptocurrency will remain filled 24/7.

Note that the network encounters problems not work the first time. For example, in September 2019, the Commission also growing. Then one of the reasons of inconvenience was the pyramid fairwin’s.

Recall that the transition to Ethereum 2.0 means a new algorithm for the extraction of ETH on the basis of Proof-of-Stake. The role of the miners will take on the validators. To become one of them, the user must lock at least 32 ETH — a guarantee of its integrity in the future. Already now it is possible to estimate the income that will obtain the validators.

Ethereum 2.0 focuses on the scaling, that is, including the ability to conduct more transactions per second. That is why analysts see the update to problem solving. However, the exact timing of the transition to PoS no. It is expected to take place in 2020. However, earlier developers have already disrupted the expected timing of the transition, so to be sure of anything is impossible.

The transition to Ethereum 2.0 will really fix the current problems. In the meantime, users of Ethereum will have to wait and deal with the situation — perhaps the death of the pyramid will save the network like last time. Yet note that in Bitcoin, things are much worse: Commission increased by at least a thousand percent over the last month and not yet falling. Yesterday the average cost of translation was 6.6 per dollar.


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