High GAS Fees for On-chain Transactions: Can We Fix it in Time?by@Sergeenkov
19,368 reads

High GAS Fees for On-chain Transactions: Can We Fix it in Time?

August 8th 2021
5 min
by @Sergeenkov 19,368 reads
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The average fee per transaction on the Ethereum network rallied to an all-time high of $6.04. This was the highest we had seen since 2015. The exact fee you end up paying for every cryptocurrency transaction depends on the consensuship protocol of the network you’re using and the traffic on that network. For the most part, the most-used networks like Bitcoin will continue to have the network fee problems, which begs for a practical solution. For Ethereum a full switch to its 2.0 version (which uses PoS) is going to take approximately two years.

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