Ethereum network usage level was half of its ATH (All-time high) which reached 1.4 million daily transactions in January, although the fee to be paid for a transaction on the Ethereum network was based on $1.
Ethereum currently processes only 620,000 transactions per day, but with the testing phase passed on June 30, fees have suddenly skyrocketed…
The gas limit required for the transaction appears to have not changed, indicating that Ethereum has a transaction capacity of 1.4 million units, but total gas usage is at an all-time high.
Gas Just a measurement tool like bytes in Bitcoin. Currently, you need to pay 97 gwei per gas to process an Ethereum transaction.. Let’s not forget that 1 Ethereum is worth 1,000,000,000 (1 Billion) Gwei.
So what exactly is happening? It seems that some decentralized exchanges in China want people to vote for the coins to be listed, and the winner is determined and determined by how many addresses the votes are given.
This strange and just as ridiculous configuration is a result of China’s ban on crypto exchanges. it could be. This situation can increase the number of addresses incredibly, some addresses are deprived of basic information and, as one can imagine, the number of addresses is a completely meaningless criterion… /p>
If our source’s data if true it seems that F2Pool and DwarfPool set their own limit, in which case they don’t accept transactions below 50 gwei. 50 gwei is also about 50 cents.
By the way, quite interestingly, Dwarfpool’s block percentage is correct.. This percentage has dropped from 20% to 2%.
The problem seems to be clearly miners, hopefully miners will stop being greedy soon and go to limit increase and Ethereum users will get cheap transaction fees again…
(trustnodes)