The average Commission amount in the Ethereum network has updated the historical maximum, reaching $7.4. This is evidenced by data from Blockchain.
The previous peak in transaction costs at $5.4 was recorded on July 2, 2018.
Since the beginning of August, the average Commission value has increased more than five times, and since the beginning of summer — almost 17 times.
Against this background, the recommended price of gas for transactions, according to EthGasStation, has almost doubled over the past day,
The decentralized exchange Uniswap became the leader in gas consumption. The total amount of commissions paid in its network for the month reached $3.38 million. Stablecoin USDT dropped to second place with $2.95 million. The third place is taken by the Forsage project, which has the characteristics of a financial pyramid.
Users note excessively high commissions, in some cases amounting to half of the transfer amount.
At the end of July, when commissions in the network reached the marks of two years ago, Ethereum co-founder Vitalik Buterin recognized the problem and proposed to implement the EIP-1599 improvement.
It involves increasing the total network capacity from 12.5 million Gwei to 16 million Gwei. Base commissions will increase or decrease depending on whether this indicator is above or below the level of 10 million Gwei. The reward for miners will consist of a fee for distributing the priority of transactions, 0
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