⭐ Merited by LUCKMCFLY (1)
Yeah, BNB and ETH are pretty much substitutes at this point.
When ETH fees increase there will likely be a flood of people going over to the BNB network to do their transactions.
That then pushes fees up.
Hopefully both chains will come up with a scalability solution soon though.
When ETH fees increase there will likely be a flood of people going over to the BNB network to do their transactions.
That then pushes fees up.
Hopefully both chains will come up with a scalability solution soon though.
BNB's gas fees are increasing simply because the network is starting to experience congestion. ETH used to be cheap, but that's not the case anymore due to high network load. That's the problem when a blockchain network becomes too popular in the mainstream world. It's up to developers themselves to roll out network upgrades in order to keep the blockchain as cheap and fast as possible. If by any chance BNB's fees become exorbitantly high, people have the choice to switch to other competing chains. Polygon (MATIC) seems to be a good alternative with dirt-cheap fees and blazing-fast transaction confirmation times. Most of all, it's decentralized so it'll keep on running for years on end. With so many blockchain networks on the scene right now, high fees and slow confirmation times are no longer an issue. Just my opinion
