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February 12, 2021, 07:17:44 PM |
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A recent consistent increase in the price of ethereum has resulted in the increase in the gas fees to be paid on the transactions conducted on the ethereum blockchain network. We have in the recent time see fast transactions being at $44 worth of ethereum.
The increase in the gas fee is traceable to increase in the price of ethereum and increase in the quantity of transactions being conducted at the same time.
Conducting transactions on Decentralized exchanges using ethereum network such as uniswap, has become so much expensive for the people transacting low amount.
This rise in transaction fees has resulted in many of the projects on ethereum network look toward other directions in finding solution this, and they seem to have found one by migrating their projects on to BINANCE SMART CHAIN. This might be a woe for ethereum as it may result in reduction and its usage and a boom for BNB as it is the fuel to be used in conducting transactions on the Binance Smart Chain.
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