Why such high fees in ETH?

[mu_enrico]

Why do you have to reply if you have no idea what you're talking about?

Why you act like an asshole where some random guy trying to help you to figure out this phenomenon? That's a wonderful way to keep people from posting here.
If you are so smart, why you asked this question, and not figuring out by yourself. OMG people nowadays.

A final important note is that blocks themselves are bounded in size. Each block has a target size of 15 million gas but the size of blocks will increase or decrease in accordance with network demands, up until the block limit of 30 milion gas (2x target block size). The total amount of gas expended by all transactions in the block must be less than the block gas limit. This is important because it ensures that blocks can’t be arbitrarily large. If blocks could be arbitrarily large, then less performant full nodes would gradually stop being able to keep up with the network due to space and speed requirements.

https://ethereum.org/en/developers/docs/blocks/

You are looking at the wrong metric smartass...

 

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[MikkisJ]

Why do you have to reply if you have no idea what you're talking about?

Why you act like an asshole where some random guy trying to help you to figure out this phenomenon? That's a wonderful way to keep people from posting here.
If you are so smart, why you asked this question, and not figuring out by yourself. OMG people nowadays.

A final important note is that blocks themselves are bounded in size. Each block has a target size of 15 million gas but the size of blocks will increase or decrease in accordance with network demands, up until the block limit of 30 milion gas (2x target block size). The total amount of gas expended by all transactions in the block must be less than the block gas limit. This is important because it ensures that blocks can’t be arbitrarily large. If blocks could be arbitrarily large, then less performant full nodes would gradually stop being able to keep up with the network due to space and speed requirements.

https://ethereum.org/en/developers/docs/blocks/

You are looking at the wrong metric smartass...

 

I'm not smart enough to figure it out, that's why I'm asking. So if someone has no idea what the answer is, they must answer some irrelevant gibberish anyway? OK, got it.

And by the way, why are you replying again with irrelevant gibberish? Yes, I'm looking at the right metric.

Look at this block, it's basically empty:
Gas Used:
416,504 (1.39%)
https://etherscan.io/block/13101022

Yet the gas is very expensive.

[mu_enrico]

Good, now use your superior intelligence to connect this:

With EIP-1559, the base fee will increase and decrease by 12.5% after blocks are more than 50% full. For example, if a block is 100% full the base fee increases by 12.5%; if it is 50% full the base fee will be the same; if it is 0% full the base fee would decrease by 12.5%.

https://metamask.io/1559

And this:



Now call me master!

[Stewart66]

I'm no expert in network blocks on erc20, but I noticed that in the past week the cost of Eth gas has increased by 2x https://etherscan.io/gastracker#historicaldata.  it also made me reconsider selling the small value of the coins I have and can only wait for gas costs to drop.

[MikkisJ]

Good, now use your superior intelligence to connect this:

With EIP-1559, the base fee will increase and decrease by 12.5% after blocks are more than 50% full. For example, if a block is 100% full the base fee increases by 12.5%; if it is 50% full the base fee will be the same; if it is 0% full the base fee would decrease by 12.5%.

https://metamask.io/1559

And this:



Now call me master!

You're a slave! But seriously, thanks for the reply. So that's what the algorithm for the base fee is. I wonder who came with that formula, because it seems that even though we're not close to 100% capacity, yet this formula has lead to very high base fee. Do you know who invented and enforced this formula onto gas fee structure?

I think it's detrimental to users, putting that threshold somewhere above 50% would be better.

[Jercyhora2]

The increase in the price of the gas fee here in the Ethereum blockchain is the reason why it is difficult to sell assets even at the right time, the type that has income from them. Most small investors are deliberately affected by this. Even if we say that it is good to invest in ethereum, because it has been proven a lot. It is still important to have a low gas price in every transaction.

[Bitcoin Seller]

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?

Transaction fees completely depend on users' activity, so I can say that on some days, for example, on Fridays, fees are usually the lowest. I strongly believe that when Ethereum switches to Proof-Of-Stake, fees will not be so huge as validators will not have such big commissions like miners now.
To track current transaction fees you can go on the web-site etherscan. Now the minimum gas is 80 gwei which is about 5,2$. 

[imstillthebest]

did the devs say that the fork will reduced the gas fee ?
 if yes then we can blame them for this and they might consider fixing it again  but  if it isnt then maybe the fork is intended for other purpose  but we people are only too assuming and spreading wrong claims but anyway there are lots of alternative to eth these days .
they can solve most problems that eth are facing such as high gas fees and others .

[Rahman11]

Ethereum (ETH) transaction fees increase when the network is busier. This is caused by more people making transactions like sending tokens, trading on DEXes or depositing their assets to lending platforms.

[dhemasm]

did the devs say that the fork will reduced the gas fee ?

So far i know they didn't something like this, EIP-1599 in the first place to implement Hybrid-Deflationary concept to the Ethereum network where every part of the transaction will be burned and it's little bit different from previous mechanism where it will be automated Fluctuate bidding system so Miners can't monopolize the network fee, That was so far i know but as you can see the price was much higher not sure why, The only hope for ethereum it's upcoming PoW to PoS Transisition.

[mu_enrico]

I wonder who came with that formula, because it seems that even though we're not close to 100% capacity, yet this formula has lead to very high base fee. Do you know who invented and enforced this formula onto gas fee structure?

Vitalik Buterin (@vbuterin) et al.

I guess authors don't have knowledge of economy, thus thinking that centrally planned fees (even though it's algorithm) are good. What we see here is a definition of inefficiency, where some blocks aren't full even though the network is congested. Also, it introduces lag, where the lower fees txs must wait for the base fees to decrease before it can be included in a block. This setup surely doesn't belong to POW when the miners maxing their fees, and fight in the "hash race."

[lepbagong]

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

It's a problem that has been going on for a long time and is trying to be fixed by ethereum but has not been able to be resolved even though it has been tried, so it's no wonder that other platforms are growing that contribute so that there can be such a high-cost alternative. Of course it's good that other platforms emerge that provide an opportunity for everyone to do it at a cost that is still affordable.

ethereum may always see high costs with traffic that was indeed high at the time so there were high costs but not everyone could accept things like this and there had to be real improvements that ethereum had to do even though it was possible that if it dragged on so many projects would not use ethereum network.

but it doesn't hurt to continue to monitor at https://etherscan.io/gastracker before doing work, then at least it can reduce costs we can do for a while before there are fundamental changes.

[zasad@]

I was looking for an answer to this question on social networks, I found an interesting guide.
https://www.blocknative.com/blog/eip-1559-fees
A Definitive Guide to Ethereum EIP-1559 Gas Fee Calculations: Base Fee, Priority Fee, Max Fee
"If the last block was exactly 50% full, the Base Fee will remain unchanged.
If the last block was 100% full, the Base Fee will increase by the maximum 12.5% for the next block.
If the last block was more than 50% full but less than 100% full, the Base Fee will increase by less than 12.5%.
If the last block was 0% full – that is, empty –  the Base fee will decrease the maximum 12.5% for the next block.
If the last block was more than 0% full but less than 50% full, the Base Fee will decrease by less than 12.5%  "

[masterrex]

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?

I agree with this observation and it's true it's half-empty meaning the blockchain is not full and yet the transaction fees were still high, And because of this IMO, the London upgrade is a failure to me because it was not served to the interest of small and micro investors/users, I don't understand why they keep boosting that the Eth was already a deflationary token when its gas prices are not sustainable. I'm an Ethereum user since 2016, Eth serves as my alternative cryptocurrency for Bitcoin but in today's latest trend I'm not happy anymore. and I cease using Eth in the meantime.  

[Questat]

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?

I'm not sure if we could find a way to bring back it low since the transactions demand is still high. Because even we already have a BSC platform, it was still to see that many people are using ETH. That is costly but have to live no other option with these ERC20 token base and have to pay it high just for the seek that we can move our funds.
This was our struggle since last year and we are hoping for a huge change after the upgrades but sadly, we never saw it happening, instead, the gas fees stay high.

[MikkisJ]

Actually, if we have blocks just slightly over 50%, it increases gas fee very fast. Only after many blocks that are almost empty or below 50% does the gas fee start to fall to reasonable level.

I suspect it's all just for purpose of manipulating the price, it's not about users. Greed has taken over, now all they care about is writing news about how much ETH they burned this day or this week!

Also notice that miners still get their fair share, but the system is robbing the users, only because they want to rave about burning ETH. Miners are still winning, price manipulators winning, users losing.

[Rocky993]

One of the many reasons for the increase in gas fees is the increase in the mining cost of miners to limit the amount of etherium mining.  In addition, the work of large projects centered on Ethereum Blockchain.  With so many transactions, trading, swaps and stacking NFT projects, all of this is at the root of Ethereum's gas fee hike.

[CLS63]

High or low fees situation is completely related to the price and the rate of demand. For now, it seems like fees are going to change parallel to the price as long as Ethereum developers themselves don't do anything about this to put an end to it. Ethereum price reached $3.2k after a long time. People who see the market and Ethereum are rising don't want to miss the opportunity to buy. And this caused the demand to go really high. And it affected the network also that the transactions happen slower than before. As a result of these things, we see very high fees again when we want to make a transaction with Ethereum.

[Anonylz]

Tell me about it, the gas fee is just getting worse am afraid, everyone expected the fork to fix this gas issue but apparently we are stuck with this, whether we like it or not we must pay high gas fees to transfer any erc20 project,  this is reason why chain like solana are striving high and gaining more traction, I can't seem to understand what is happening to eth, I don't think this issue can be address anymore, better new devs start looking for alternatives.

[Insomnia family]

Tell me about it, the gas fee is just getting worse am afraid, everyone expected the fork to fix this gas issue but apparently we are stuck with this, whether we like it or not we must pay high gas fees to transfer any erc20 project,  this is reason why chain like solana are striving high and gaining more traction, I can't seem to understand what is happening to eth, I don't think this issue can be address anymore, better new devs start looking for alternatives.

Yes, the high gas fees on the ethereum network piss me off a bit to try to make small trades and being forced to pay gas fees which are much higher in comparison to the selling value of the coins. that's why at the moment I prefer the Bsc and Polygon networks because the gas costs for transactions are cheap. And maybe next time I will use the Solana network too.