Why is the Gas price to send ETH so astronomically high nowadays. I've been reading threads here where people are complaining about high gas prices. Why the transaction cost is set so high?
The huge traffic in the crypto market which lead to network congestion is the reason why the Gas price of making a transaction on ETH network is high and the same thing happen to other crypto like BTC.
Wasn't ETH supposed to provide us with a faster and cheaper alternative than traditional banking?
First crypto was not created to compete with traditional banking they were as an alternative solution but the reason why ETH is not providing fast and cheap transaction activity is the ETH2.0 which is not complete.