Why such high fees in ETH?

[MikkisJ]

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

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[Xampeuu]

in the description I read, the ethereum network fee is determined by the miners and it is not related to the eth network itself. but from ethereum itself promises to solve this problem as soon as possible, so that consumers can feel more comfortable

[RussianEnglishTranslation]

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

People have been buying lots of NFTs and that has had an affect on gas prices. A lot of people have moved to Mintbase on NEAR protocol because the gas fees are lower and the amount of profit you get is higher. Opensea also works on Polygon.

[MikkisJ]

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

People have been buying lots of NFTs and that has had an affect on gas prices. A lot of people have moved to Mintbase on NEAR protocol because the gas fees are lower and the amount of profit you get is higher. Opensea also works on Polygon.

No, blocks are half empty. Sometimes blocks are 5-10% filled. Gas fees should be super cheap now.

[MikkisJ]

This block for example was 4% filled. It's almost empty. But still very expensive gas.
https://etherscan.io/block/13090000

https://imgur.com/FnNom2k

[asriloni]

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

https://etherscan.io/gastracker

You can check it from the link that I provided above. The gas will be based on how crowded the blockchain and it will be also using the average fees in the network that will be determined from the all of transactions that already processed by the block/mempool. The London hardfork didn't give blocksize upgrade and it seems like it was not working perfectly. I personally prefer to see this ethereum chain try to increase its blocksize.

that will be perfectly fixing the scalability problem. Sometimes the tx fees can touch three digits too. The blockchain is starting to be crowded again. that may become the reason why the fees was spiking but this time it's better than a few months ago.

It seems like the block was taking a transaction with high fees as its priority and at the same time to determine the recommended gas fees

[Jackl87]

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

The topic with the high gas fees on the ethereum network is probably the most discussed one here on this forum as almost everyday there is a new thread opened with this issue. Since the DeFi Hype began it became obvious that ETH in it's current version is very limited in terms of transactions per second and DeFi is creating a huge amount of transactions because for every DeFi related action there is at least 1 transaction needed and in many cases more than one. The london fork really did not have any positive impact on the Gas prices so far but we also keep in mind that this was just one update on the way to ETH 2.0. Once the full transistion to PoS happened and the Gas prices are still high than there really is a reason to worry.

[blockman]

I don't understand why it keeps on moving up as such fee should go down as said which might be the effect of the London hard fork. But as you're curious with too, I don't know why but I only keep seeing the fee going up despite with those hoped upgrade for Ethereum.
Many this is going to open another "solution" as the foundation saying about these fees. It seems like we're back in 2017 when gas fees were too much because of cryptokitties. This time, I guess it's because of NFTs.

[MikkisJ]

The gas will be based on how crowded the blockchain and it will be also using the average fees in the network that will be determined from the all of transactions that already processed by the block/mempool.

This is not true. The blockchain is not crowded at all. Did you even check the blocks? We have it running half empty. Last time network was running half empty in June, gas was 3 - 10 GWEI.

Now we have almost empty blocks with 85 GWEI price. There is some base fee that is added for some stupid reason to make it super expensive.

There is this "Base Fee Per Gas" in all blocks now. Do you know what it is?

[MoneyJ]

Dapps and DeFis are the driving force of the gas price going so high in Ethereum economy. Every transaction is being charge and the gas fees rely on how many transactions are executing in the network and access rates are off the roof . Layer 2 implementation does not make it better. It only enhance the ecosystem to make it faster confirmation.

[aemma]

I think that miners also have a role to play in all these, and hence the reason Ethereum team are trying their best to ensure all these issues like gas fee and speed are taken care of in the next upgrade.
However, every upgrade done by a team on their platform have a specific function or reason for that upgrade, some might be strictly for security, some for speed, some for more user-friendly interface and so on, in the case of Ethereum, the London hard fork was done in order to reduce the circulating supply of ETH, hence in every transaction ETH coin is burnt; thus it can be seen that the London hard fork have no business with gas fees but we should wait for the ETH 2.0.
Also, the last time this fees was this high was months ago, during the bull run, that is, the more the ETH price increases, the more the value of gas fees increases, nevertheless the team have understood that more growth of Ethereum blockchain depends on their ability to solve this issue.

[tsaroz]

It were a bit low for some weeks. Went as low as 4 gwei. Now the fees are high, not as high as on the last bull but with the price rise, the fees on dollar has rose geometrically.
ETH is been nearly unusable for dapps and defis for quite a time now. Projects like BSC and Polygon are keeping the network popular. ETH still could be a good decentralized coin like bitcoin, but I don't see it being used as a utility token unless serious improvements are implemented.

[rdbase]

I think that miners also have a role to play in all these, and hence the reason Ethereum team are trying their best to ensure all these issues like gas fee and speed are taken care of in the next upgrade.
However, every upgrade done by a team on their platform have a specific function or reason for that upgrade, some might be strictly for security, some for speed, some for more user-friendly interface and so on, in the case of Ethereum, the London hard fork was done in order to reduce the circulating supply of ETH, hence in every transaction ETH coin is burnt; thus it can be seen that the London hard fork have no business with gas fees but we should wait for the ETH 2.0.
Also, the last time this fees was this high was months ago, during the bull run, that is, the more the ETH price increases, the more the value of gas fees increases, nevertheless the team have understood that more growth of Ethereum blockchain depends on their ability to solve this issue.

It is strange since the london hard fork they are burning over 6000eth per day last time I looked.
Gas fees are higher still but the ones processing these high limit transactions are making less afterwards.
Even with the use of the ethereum blockchain at it's highest because of projects such as NFTs and DeFi using it to facilitate their customers.

[Jercyhora2]

All I know is that it has repeated this price increase per transactions many times already, but one one of the most caused was the emergence of cryptokitties. Perhaps one of the biggest contributors to the increase in the price of transaction is the variety of NFT games that have sprung up so far.

[MikkisJ]

I think that miners also have a role to play in all these, and hence the reason Ethereum team are trying their best to ensure all these issues like gas fee

They are doing the opposite. With London fork the fees only went up. The team doesn't care about gas fees one bit.

Dapps and DeFis are the driving force of the gas price going so high in Ethereum economy. Every transaction is being charge and the gas fees rely on how many transactions are executing in the network and access rates are off the roof

This is not true. The blocks are not filled, with increased gas limit, now at 30,000,000. Many blocks are empty!

https://etherscan.io/block/13101042
Look at this block. It used only 6% of gas limit!

We don't have capacity problem at all right now.

And still, no one answered my question, what is Base Fee Per Gas and especially minimum gasused multiplier?

[zasad@]

I don't understand this situation either. If the block is filled with transactions, then the base commission increases, and vice versa, if the block is empty, then the base commission decreases.
This is how the base commission is regulated
https://etherscan.io/txsPending
There are many transactions in Mempool, it looks like a conspiracy of miners that do not include transactions with low fees in the blocks.

[mindrust]

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

Dead chain.

Dead because too many people want to use it. In other words, it can't scale. Just like how bitcoin couldn't scale. The end of the road for all blockchain based projects. Welcome to the future.

Find an alternative and use that. (till it also dies)

[mu_enrico]

Probably it's not because of how many tx, but the computation power, thus you can have blocks near empty but they are resource hungry and congest the network.*

*It's only based on my common sense, it's like token transfer needs more gas than moving ETH, so probably minting and moving NFTs also require more gas.

[MikkisJ]

Probably it's not because of how many tx, but the computation power, thus you can have blocks near empty but they are resource hungry and congest the network.*

*It's only based on my common sense, it's like token transfer needs more gas than moving ETH, so probably minting and moving NFTs also require more gas.

This is not true. Did you even look at recent blocks? Some blocks have about 10 normal transactions, while during bull run we had 10 times more, and the network handled all of it. Why do you have to reply if you have no idea what you're talking about?

[zasad@]

Blocks with filled transactions cannot overload the network. If the demand for transactions is high, then the commissions on the network will grow. But online fees are not increasing.
The situation is similar to when many passengers come to the bus stop, where many buses are waiting for them.
Drivers demand $ 1 for a ticket, and passengers are willing to pay 50 cents.