Rising Gas Fees in the Run-up to Ethereum 2.0 Upgrade

Written by michaelgarbade | Published 2020/08/10
Tech Story Tags: ethereum-2.0 | serenity | gas-fees | proof-of-work | proof-of-stake | ethereum | ethereum-top-story | ethereum-blockchain

TLDR Miners on the world’s second-largest blockchain protocol voted to increase the gas limit from 10 to 12.5 million Gwei. This increase of 25 percent in miner fees contributes to the more than 75 percent rise year-to-date. Gas fees are a measure of economic activity on the blockchain protocol. The rising fees point to an increase in usage of the Ethereum network. The community has a mixed reaction to the increasing gas fees as the network gears up for the Etheruem 2.0 upgrade scheduled for July.via the TL;DR App

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Written by michaelgarbade | Co-founder/CEO - Education Ecosystem
Published by HackerNoon on 2020/08/10