This is not maybe, that is how it works. The more popular Ethereum blockchain is, the more transactions people want to do, the bigger price for a transaction miner set. This is all about demand. And it is obvious that the more Ethereum cost, the more expensive transaction is.
Right now it is safe to make a transaction with 55-60 gwei. This morning users could pay <30 gwei for slow transaction. Slow does not mean you need to wait hours before transaction is confirmed. Sometimes slow is few minutes slower than a normal transaction.
Right now it is safe to make a transaction with 55-60 gwei. This morning users could pay <30 gwei for slow transaction. Slow does not mean you need to wait hours before transaction is confirmed. Sometimes slow is few minutes slower than a normal transaction.
Exactly. The high demand for ETH, is causing network fees to soar like crazy. The ETH 2.0 upgrade won't solve the "high gas fee" issue if Ethereum continues to rise in popularity. Developers are going to need to continuously scale the Blockchain to keep up with demand in the mainstream world. And that could mean sacrificing decentralization for scalability.
Nonetheless, I'd be fine with high gas fees (but not too high) as long as Ethereum stays decentralized. If I want lower fees, I'd simply look for an alternative blockchain network that would satisfy my needs. Binance Chain (BNB) seems to be a better choice for those who prefer blazing-fast transactions at a fraction of the cost. Time will tell us the fate of ETH as crypto/Blockchain tech grows in mainstream adoption at a very fast pace. Just my thoughts
