Gas Crisis Averted: NFT Marketplaces Witness Dramatic Reduction in Ethereum Fees

Ethereum gas consumption landscape is transforming significantly as Non-Fungible Token (NFT) marketplaces no longer dominate the network’s gas usage. According to a report by Nansen, a crypto analytics platform, NFTs have fallen behind in doing the most in Ethereum gas fees.

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Meme season blamed for jump in Ethereum (ETH) gas fees

Ethereum (ETH) gas fees jumped to a 10-month high — prompted by a surge in meme coin mania. Per Glassnode, the median Ethereum gas price over a seven-day moving average (7DMA) reached 43. 641 gwei — a price last seen on June 30, 2022.

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Will Ethereum Layer-2 chains survive after The Merge?

Ethereum is finally moving to proof-of-stake this year, and with that, the aim is to: “Ultimately address some of the gas fee issues. ” One of the primary methods to reduce gas fees are layer-2 solutions.

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Ethereum gas fees drop to lowest levels since August 2021

Data also shows that the average gas price on Ethereum has been dropping rapidly since the start of the year, plunging from 218 Gwei on Jan.10 to 40.82 on Wednesday.

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Ethereum's lowering gas fee could be a dangerous indicator for its price; here's why

Throughout the previous year, Ethereum's rising gas fee was among the biggest concerns of the cryptocurrency industry. Well, especially due to Ethereum's major role in DeFi and NFTs. The rising gas feThe post Ethereum's lowering gas fee could be a dangerous indicator for its price; here's why appeared first on AMBCrypto.

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Ethereum to Introduce New Transaction Format in Urgency to Curb Gas Fees: Details

Ethereum might launch new transaction type to reduce gas fees: details

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Ethereum founder Vitalik Buterin proposes fix for high gas fees

Crypto billionaire Vitalik Buterin has suggested a new short-term solution to curb soaring gas prices on the Ethereum network. The post Ethereum founder Vitalik Buterin proposes fix for high gas fees appeared first on CryptoSlate.

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Ethereum Gas Fees Are Ballooning Exponentially – Here’s Why

Ethereum gas fees have risen by 2,000% in less than five months to the dismay of network users. The average gas fee for a single transaction is now at $51, according to information from BitInfoCharts.

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Ethereum GAS prices fall below $1—here’s two reasons why

According to Etherscan, Ethereum’s average gas price has dropped to under $1.

The post Ethereum GAS prices fall below $1—here’s two reasons why appeared first on CryptoSlate.

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There?s New Leader on Ethereum Blockchain When It Comes to Gas Consumption

Uniswap eclipses Tether (USDT), becoming the biggest gas spender on the Ethereum blockchain

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Ethereum Set to Shatter 2018 Cumulative Annual Gas Fee Record

Despite 2020 being only halfway done, the Ethereum blockchain is set to achieve a new annual gas payment record. USDT and DeFi Push Ethereum Gas Fees to New Heights According to Wilson Withiam — a researcher at crypto analytics platform Messari — the total gas payment recorded on the Ethereum network so far in 2020Read MoreRead More.

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Ethereum Developers Consider New Fee Model as Gas Costs Climb

With EIP 1559, Ethereum developers are proposing a dynamic pricing system to lower the blockchain network's current high gas fees.

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Ethereum: DeFi, smart contracts face issues as gas prices rise by exorbitant levels

Over the last month, Ethereum's gas prices have been surging faster than Bitcoin's price. The average gas price increased 3X since the start of May. The reason for this surge is similar to when CryptoThe post Ethereum: DeFi, smart contracts face issues as gas prices rise by exorbitant levels appeared first on AMBCrypto.

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More Gold Coin Airdrop Causes Spike In Ethereum Gas Price

According to data from Etherscan, the More Gold Coin project has airdropped its token to over 360,000 addresses, clogging the Ethereum network and causing gas fees to rise to 20 gwei, or about 10 cents.

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Ethereum Gas Usage Reaches All-Time High, Transactions Highest in Six Months

Demand for the ethereum network has reached all-time high in at least one measure, the amount of “gas” used per day. Gas is an abstract measure of the amount of... The post Ethereum Gas Usage Reaches All-Time High, Transactions Highest in Six Months appeared first on Trustnodes.

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Ethereum Developer Proposes New EIP-1559 To Slash Gas Fees Down 90%

Developer Proposes A New EIP To Save 90% Of Ethereum Transaction Costs Every transaction on the second-largest blockchain Ethereum has some cost attached to it. One must pay for doing anything say sending tokens, ETH or interacting with a contract on this blockchain.

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Livepeer Wraps Up Merkle Mining, Frees Ethereum Bandwidth

The token distribution approach increased Ethereum gas usage in the past two months, but in most cases, gas fees remained reasonable.

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NEO and GAS On a Tear With Double Digit Gains

Neo has been no exception suffering heavy losses which have wiped out over a year’s worth of gains. That may be about to change as the ‘Chinese Ethereum’, along with its younger sibling, GAS, is on a roll at the moment with double figure gains.

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Livepeer (LPT) Token Minting Congests Ethereum Network

Usage of the Ethereum network is neutral, but one contract has been a constant presence, burning 20% of all gas on a regular basis.

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Gas Ain't Gold: Why Ether's Price Could Tank Even If Ethereum Succeeds

Even if ethereum succeeds as a smart contracts platform, its cryptocurrency might still fail as a long-term store of value, writes Michael J. Casey.

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Bitcoin Magazine’s Week in Review: Making Strides Across Industries

Industry buzz surrounded Ethereum this week as community members await the next stage of the coin’s development. The protocol also served as the jumping-off point for a new fully regulated stablecoin.

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DevCon 4 Will Set the Stage for Ethereum’s Next Milestone: Constantinople

Ethereum is embracing the Constantinople milestone at the end of November 2018, after DevCon4 in Prague. Constantinople is the latest Ethereum release, introduced through a hard fork, that will include five Ethereum Improvement Proposals (EIPs):Bitwise shifting instructions (EIP 145) in the Ethereum Virtual Machine (EVM) allow for direct manipulation of bytes on the EVM layer.

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Ethereum (ETH) Price Analysis: ICO Cashing out FUDs Impeding ETH Recovery

A 33 percent dip in the last week means Ethereum sellers are stepping on the gas pedal. There are many theories around this rapid decline with most associating this dump with ICOs losing their patience and cashing out.

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Is Ethereum Actually Heading for a Collapse? Co-Founder Vitalik Buterin Opens Up His Views

Buterin talked about the Ethereum developer community is working on proposals to make gas payments in ETH at the protocol level, which could prevent the ETH price collapse. The post Is Ethereum Actually Heading for a Collapse? Co-Founder Vitalik Buterin Opens Up His Views appeared first on CoinSpeaker.

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Collapse of ETH is Inevitable? Ethereum’s Vitalik Buterin Disagrees

Vitalik Buterin, the founder of Ethereum, replied to a September 3, 2018, report from Techcrunch that claims that the collapse of ETH is inevitable. No Future for ‘Gas’ According to a report from TechCrunch, the collapse of ETH is inevitable, and we should expect that ETH — the asset, not the Ethereum Network itself — will soon go to zero....The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

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Origin Protocol Launches Decentralized Messaging Platform

Origin Protocol, one of the early initial token offerings listed on CoinList, has announced the launch of its new decentralized messaging service. Origin’s latest offering could challenge encrypted giant Telegram, which, while not decentralized, is widely used within the cryptocurrency community.

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Here’s How To Save Gas When Running Audits On Decentralised Applications

This ones a little technical, so bear with us, however Bitfalls have written an article that discusses some steps that can be taken to save gas and thus, save money when running audits on decentralised applications, or DApps.

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Press Release: BANKEX Pay Ethereum Wallet, Store Tokens and Make Transactions Available Now in the App Store for Free

BANKEX Pay is a user-friendly Ethereum wallet that securely stores crypto assets, enables users to make transactions, estimate gas costs, and generate receipts. The wallet can store ERC-20 and ERC-223.

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Ethereum Congestion Lowered, OMTM Token Airdrop Takes 20% of Bandwidth

The Ethereum congestion by a FOMO lottery game was cleared, but an airdrop is taking up gas.

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Cloned FOMO3D Game Most Probable Reason for Ethereum Congestion

For days in a row, a single smart contract has raised gas prices on the Ethereum network.

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Ethereum Transaction Fees Are Up Because of Ongoing Network Spamming

The Ethereum blockchain seems to be under some sort of attack by a network spamming that is causing congestion within the network which in turn, has had a negative impact on the base fee for the verification of an Ethereum transaction.

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Ethereum Sharding: All You Need To Know on Ethereum’s Scaling Solution

At Ethereum’s peak usage, growing transaction fees and gas costs make the sending of tokens extremely expensive. Obviously, a scaling fix is needed just like with any other blockchain.

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Ethereum’s Fees Suddenly Rise to 50 Cent as One Address Accounts for 20% of All Transactions

One address has suddenly risen to account for 20% of all ethereum gas usage, hitting network capacity today with fees rising up to $0.52 per transaction. According to data by... The post Ethereum’s Fees Suddenly Rise to 50 Cent as One Address Accounts for 20% of All Transactions appeared first on Trustnodes.

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Ethereum (ETH) Coin Story and What Holds the Future

The second largest blockchain network Ethereum has truly changed the crypto-verse since its debut. The new-comer [compared to Bitcoin] stepped heavily on the gas pedal of growth and many predict that it will fly past even Bitcoin – the lead by market cap.

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More Efficient Clone Contract Functionality Could Soon Be Coming To Ethereum Blockchain

EIP 1167 entered “last call” status yesterday and is open for comments for the next two weeks before it is finalized. This Ethereum Improvement Proposal allows any number of cloned contracts to redirect calls and gas fees more cheaply and with fewer side effects than is currently possible.

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MOS Lottery Token Takes Over Ethereum Blockchain, Sparks Fears of Congestion

Active distribution of a token belonging to a lottery service has taken the top position as biggest Ethereum gas burner.

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Ethereum ‘smart Ponzis’ attracting millions in investment

After CryptoKitty breeding, virtual shrimp farming, and rare pepe trading, the latest dapps burning precious GAS on the ethereum network let users benefit from the greater fool theory — just like a Ponzi scheme.

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A Prehistory of the Ethereum Protocol

Although the ideas behind the current Ethereum protocol have largely been stable for two years, Ethereum did not emerge all at once, in its current conception and fully formed. Before the blockchain has launched, the protocol went through a number of significant evolutions and design decisions.

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Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.

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Vitalik Buterin Estimates Ethereum Spam Transaction Fees at $15 million

According to Vitalik Buterin, Ethereum’s recent spam congestion transactions have racked up at least $15 million in gas fees. Facing record congestion in the form of soaring gas fees and pending transaction times, the Ethereum network has been recently stung with a gas price manipulation attack caused by thousands of spurious transactions.

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Ethereum (ETH) Gas Station Taken Over by Mysterious WPKG Token

The network shows normal gas prices, but one ERC-20 token is moving fast in the last hour.

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Ethereum’s Vitalik Buterin Estimates $15 Million in Cost for Network Spam

The Ethereum Network has been facing a lot of attention because of the congestion caused by a slew of ERC20 contracts numbering in the thousands. Vitalik Buterin of Ethereum guesses the spam transactions totaled around $15 million USD in gas costs so far.

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EOS [EOS] accused of manipulating Ethereum [ETH]’s gas price

On 15th July, the team Just, a decentralized application platform, accused EOS [EOS] of manipulating the gas prices of the Ethereum [ETH] network on Reddit. The team claimed that the ETH gas prices have a connection to the funded bot accounts of EOS and called it a ‘corporate network attack’. Ethereum Virtual Machine [EVM] uses […]

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Ethereum [ETH] Blockchain Gas Price Normalized: EOS Speculated Attack

Large scale congestion was experienced during the last week by the network of Ethereum. The event reflected to many crypto-analysts and enthusiast that a serious spam launching transactions are going on.

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Ethereum (ETH) Gas Prices Return to Normal, After Suspected Intentional Network Overload

Ethereum users noticed a smart contract moving tokens, which had no clear purpose, but led to extremely high gas prices.

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Ethereum Network Under Assault: Gas Price Manipulation May Indicate Covert EOS Attack

The Ethereum network is currently under heavy load as gas prices soar due to a flood of transactions. The post Ethereum Network Under Assault: Gas Price Manipulation May Indicate Covert EOS Attack appeared first on CryptoSlate.

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‘Etheremon’ Game Migrating to Zilliqa Because of Ethereum’s High Gas Prices

According to a Medium post published July 3rd, Etheremon, a ‘Pokemon clone’ built on the blockchain, will be switching from Ethereum to Zilliqa in light of scalability issues facing the Ethereum network.

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Etheremon Switches to Zilliqa Due to Ethereum’s High Gas Prices

Scalability has been one of the biggest problems in cryptocurrency and blockchain. Even the top blockchains can’t solve this issue overnight, even though scaling solutions are in active development.

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Nick Spanos’s Zap Jolts Real Estate With Blockchain-Based Smart Contracts

New York realtors looking to avoid hiccups in their commission payouts can now turn to blockchain-based smart contracts. The first real estate commission split was brokered earlier this summer in Manhattan’s ritzy SoHo neighborhood by New York-based Bapple Realty.

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