Reduced network activity is resulting in lower fees for Bitcoin and Ethereum as both recede heavily from their all-time highs.
Cryptocurrency fees can be defined as money (usually in the form of one of the virtual currencies) that is paid as a on top of a transaction. The most common way to charge a fee is by taking a commission, i.e. some percentage from the amount of the transferred money. At the moment, a lot of transactions can be completed without any cryptocurrency fees unless the transaction includes a large amount of data. As miners function as the handler of transactions, they also receive commissions since each new block of the blockchain consists of their operations and, for example, a fee from Bitcoin as well. It is optional to require a commission, but any user that has found a block can include fees by their own choice. In the future, when the rewards for creating a new block will be reduced, miners will get most of their profit directly from the fees.
Bitcoin and Ethereum transaction fees have declined down to $7.20 and 4.80, respectively.18879
FOX holders will be able to offset gas fees proportionally to their token holdings.7896
Traders racing to exit leveraged positions on-chain appeared to drive a record spike in Ethereum gas prices on Wednesday, with users reporting transaction fees of more than $1,000 still got stuck.21977
Dog-themed tokens see an abrupt end to their rallies as Vitalik Buterin liquidates the positions he was gifted and donates the proceeds to charity.24575
A cross-chain aggregation protocol enables multi-chain assets to be freely exchanged, and different blockchains to be accessed with ease.5802
A $100 investment into DOGE 100 days ago would now be worth $2,742, while the same investment into BTC would be worth $130 today. Ethereum’s hash rate has increased by 4.5 times BTC’s this year.39707
Launching in June, Binance’s new NFT platform and marketplace will share the same account system as Binance.com.15279
mStable has launched its savings account, stablecoin and swap services on Polygon to reduce fees.22545
The latest spike in BTC transaction fees comes amid a major decline in the Bitcoin network hash rate.15101
Brian Armstrong expects other revenue streams to take the lead in five or 10 years.12437
IADB disbursed tokenized funds to a recipient in the Dominican Republic using the LACChain blockchain network.4753
One of the largest NFT platforms on Binance Smart Chain has predicted this blockchain will overtake Ethereum as the biggest destination for nonfungible tokens.22134
A 31% price surge was accompanied by a 77% rise in the cost of transacting on Ethereum.10609
What the planned EIP-1559 could mean for Ethereum, DeFi and miners.23955