How high transaction fees are being tackled in the blockchain ecosystem

A look at why gas fees can be so expensive and the different ways platforms and users are tackling the high costs.

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Lark Davis urges quick launch of Ethereum 2.0 to curtail high fees

Gas fees on Ethereum (ETH) have continued to go higher and higher. Some industry experts have warned that the high gas fees may send investors away from the cryptocurrency if nothing is done about it.

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Old Bitcoin Quote Comes Back to Bite Ethereum Founder Vitalik Buterin

Ethereum?s Vitalik Buterin addresses his controversial comment about high Bitcoin fees

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Uniswap Fees Skyrocket to Over 200 Gwei

The popular decentralized exchange Uniswap is starting to become unusable due to high transaction fees. The fees are rising with the popularity of DeFi pools and yield farming. Ethereum typically struggles with high gas prices during a bull market.

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Coinbase Managed to Save 75% on Bitcoin Transaction Fees: Here’s How

A big issue that many crypto traders and investors run into is high transaction fees when withdrawing Bitcoin and other digital assets from exchanges. Some platforms, in fact, are infamous for charging in excess of $5-10 for the processing of a withdrawal.

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Bitcoin's on-chain solution has its hands full dealing with WBTC

Last week, when Arcane Research reported that the number of Bitcoin transactions going up was not met by high transaction fees on-chain, people shifted their attention to SegWit. It was soon found thaThe post Bitcoin's on-chain solution has its hands full dealing with WBTC appeared first on AMBCrypto.

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BTC Averages Over 1 Million Active Addresses as ETH Transaction Fees Hit $2M Daily

Bitcoin averaged over a million daily active addresses in the past week for the first time since January 2018. The growing usage metrics add to evidence of a rising bull market. According to data compiled by Coin Metrics, ethereum might be on course to surpass its all-time high if the bull market continues.

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Judge Worries Plaintiffs’ Lawyers Trying to Line Their Pockets in Block.one ICO Lawsuit

The U.S. district judge criticized some plaintiffs in a class-action lawsuit against Block.one for appearing to be an attempt to earn high legal fees.

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Bitcoin fees increase as hash rate hits new high

Average transaction fees and hash rates are surging, even as BTC/USD holds above $11k...

The post Bitcoin fees increase as hash rate hits new high appeared first on Coin Journal.

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VC: Ethereum has “negative” network effects, needs scaling solutions “NOW”

One of the biggest narratives over recent weeks has been Ethereum’s extremely high transaction fees. The post VC: Ethereum has “negative” network effects, needs scaling solutions “NOW” appeared first on CryptoSlate.

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Bitcoin Fees Skyrocket 590% Since Mid-June – Supporters Think Mempool Size Is ‘Bullish’

Bitcoin fees have grown much larger in recent days spiking to a two-month high to $3. 80 per network transaction. The crypto asset’s fees have jumped 590% since June 14 and the mempool (transaction backlog) has grown significantly.

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Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020

Bitcoin is experiencing high volumes, pushing the price close to $11,000. Meanwhile, Ethereum fees are up 550% this year.

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Ethereum miners' rising fees could be a security concern

Ethereum gas usage and fees both have been climbing higher with each passing day. Though the gas fees are not at an all-time high (seen in 2018), it has increased strikingly since mid-may. The gas feeThe post Ethereum miners' rising fees could be a security concern appeared first on AMBCrypto.

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Ethereum’s co-founder calls for change for high fees

With Ethereum fees on the rise, Vitalik Buterin tweeted a warning on how this...

The post Ethereum’s co-founder calls for change for high fees appeared first on Coin Journal.

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Cryptopia Creditor Issues Legal Notice to Liquidator Over Alleged Failures, Fees

Blockchain firm GNY has sent a legal notice to Grant Thornton New Zealand over alleged high fees and failures to properly address its claim.

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Vitalik Buterin Warns High Fees Threaten Ethereum’s Security

As Ether transaction fees hit 100 gwei, the project’s co-founder warns that a failure to respond could undermine the security of the network.

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Ethereum Gas Usage Tops All-Time High Amid DeFi and Stablecoin Tear

The Ethereum network seems to be cracking under pressure as stablecoins and the DeFi ecosystem continue to expand. As a result, gas usage has skyrocketed to new highs along with network fees—so how can this be positive for Ethereum? As DeFi markets near $3 billion total value locked, the strains on the Ethereum network are […] The post Ethereum Gas Usage Tops All-Time High Amid DeFi and Stablecoin Tear appeared first on BeInCrypto.

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As ETH Fees Remain High, Trader Reminds Community “Ethereum Hasn’t Won Yet”

If you’re one to focus on transaction fees, it’s been a tough past few weeks for Ethereum. The network has been subject to an influx of adoption over recent weeks. Santiment, for instance, has reported the highest daily active address count in over two years.

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Ethereum Fees Just Hit a Multi-Year High, But There Are Solutions

The past few weeks have seen Ether stall in terms of price action, with the cryptocurrency trading between $210-240. Not the same can be said about Ethereum’s underlying blockchain activity. Due to a perfect storm of events, the number of users of the network has skyrocketed.

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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 Competitors Bolstered by High Fees, But ETH‘s Outlook Remains Strong

There has been a boom in demand for Ethereum in recent times, with much of this stemming from the explosive growth of the DeFi sector. Although this demand has yet to result in any type of bullish price action, it does appear that its growing utility is bolstering its macro outlook. That being said, the […]

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Vitalik Buterin Comments on Strange Transaction Fees

Ethereum creator Vitalik Buterin says recent high fees could be blackmail.

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Massive Ethereum Transfer Fees Put on Hold by Mining Pools

A number of Ethereum transfers have been made over the past 24 hours with excessively high transfer fees. This has resulted in a lot of speculation from the cryptocurrency community, who are quick to react when something is afoot.

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Ethereum Transaction Fees Are Still High — and Some Users Want Solutions ASAP

During the bull run of 2017, the top blockchains, Bitcoin and Ethereum, were subject to extremely high transaction fees. At one time, it cost $50 to send BTC from wallet to wallet in a reasonable amount of time.

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Bitcoin Fees Reach Two Years High as Hashrate Sees Massive Drop

Bitcoin fees have now risen to their highest level since February 2018 during the very peak of prices. For the first time since, they have now reached on average $6.62... The post Bitcoin Fees Reach Two Years High as Hashrate Sees Massive Drop appeared first on Trustnodes.

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As Bitcoin Halving Dust Settles, Network Awakens to Costly New Reality

Bitcoin halving has led to high transaction fees and slow block generation speeds. Is this the new reality?

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4 Coinbase Alternatives: Finding Freedom from High Fees

In this article, we will cover four different exchanges and explain why you may want to use any or all of them as an alternative to Coinbase. The post 4 Coinbase Alternatives: Finding Freedom from High Fees appeared first on CoinCentral.

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Investor Ari Paul Explains Rationale Behind Bitcoin's High Transaction Fees

Yes, your favorite coin might have super cheap transaction fees, but it still means nothing, according to investor Ari Paul

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Bitcoin Fees Rise to $5 as Blocksize Reaches All Time High

Bitcoin fees have risen this month by 10x from 50 cent to now just above five dollars with bitcoin miners receiving around $1.5 million a day from transaction fees. That’s... The post Bitcoin Fees Rise to $5 as Blocksize Reaches All Time High appeared first on Trustnodes.

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Bitcoin Halving Effect: Miner Revenue Tanks 60% But Fees Compensating with 168% Spike

Bitcoin halving is past us and during this time there have been some changes in the network. As expected, the hash rate of the network crashed 40% from the all-time high put on the halving day as smaller and less profitable miners turned off their machines after being unprofitable. A decline in hash rate means […]

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Crypto Wallet Lumi Cancels All Fees For Crypto Exchange

High trading fees is one of the most irritating aspects of using crypto exchanges for the average trader. Now you can enjoy a crypto exchange experience with zero fees

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BitMEX Users are Paying High Bitcoin Fees But Do They Really Care?

Crypto derivatives platform BitMEX “has a significant impact on the Bitcoin network and user fees,” wrote 0xB10C, a German Bitcoin freelance developer. The developer explained that the platform broadcasts multiple megabytes of large transactions into the Bitcoin network which in turn affects the transaction fees paid during the US business hours and European afternoons. These […]

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Bitcoin Transaction Fees Skyrocket as Indicators Show High Network Activity

Bitcoin’s transaction fees are currently at a 10-month high as it approaches its third halving, tentatively set to happen on May 12. General buyer interest has increased, as has other indicators showing that the network is experiencing an uptrend in nearly all facets.

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Two Crypto Exchanges Paid High Ethererum Fees to Ensure Quick Withdrawals

Data From Flipside Crypto shows that as Black Thursday occurred, two major crypto exchanges paid high Ether fees to guarantee withdrawals were processed quickly

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Roger Ver Claims He Routinely Paid ‘$1K in Fees’ for a Single BTC Transaction

Roger Ver claimed in a video recently that he has paid $1,000 in BTC fees for a single transaction many times in the past. We have often heard of BTC transaction fees being high when the network is experiencing strain.

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$670M Bitcoin Transaction Pays 26c Fees (Try That, Gold)

As a vehicle for moving huge sums of money around the world quickly and cheaply, Bitcoin is second to none. The latest example involves a high roller saving on bank wire or other transaction fees, paying just 26c to transfer a massive $670 million.

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Tezos Staking Thriving Despite Exorbitant Service Fees

Staking on Tezos is thriving. However, fees as high as 30% are not uncommon among staking providers. Here’s how to walk away with more bread. Much of the growth in...The post Tezos Staking Thriving Despite Exorbitant Service Fees appeared first on Crypto Briefing.

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Sentbe, Hanpass, WireBarley and More Leverage RippleNet to Improve Remittances in Korea

For the millions of remitters in South Korea, speed and cost matters—time delay in payments can interfere with covering critical expenses like emergencies, tuition payments and unexpected bills. However, for many years, the remittance market in Korea was controlled entirely by large financial institutions—leading to high foreign transfer fees and costly delays.

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Do High Bitcoin Fees Drive Prices Higher?

Although mass adoption has long been regarded as an important component of Bitcoin demand, its relatively high fees and more periodic usage may actually drive prices up, according to economic...The post Do High Bitcoin Fees Drive Prices Higher? appeared first on Crypto Briefing.

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Digital Remittances Reach Record of $96 Billion YoY, High Fees Open Door for Cryptocurrencies

In a globalized world where labor follows capital, the remittance industry has been growing constantly in both volume and users. Traditional providers like banks and money transfer companies have been charging high fees for their services which creates opportunities for alternative digital platforms and decentralized cryptocurrencies.

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Cex.io vs Coinbase – Comparison of Fees, Security, Features

Crypto boom from 2017 has spawned a lot of new crypto exchanges. Majority of those exchanges are not the best place to buy crypto because of their low security, high fees or outright scammy intentions of their founders.

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Enabling Faster Cross-Border Payments Between the U.S. and Mexico

Sending global payments should be easy and cost-effective. Yet, the underlying systems are complex and fragmented, leading to high foreign transfer fees and costly delays. Together with our customers, Ripple is working to solve the challenges with slow and expensive cross-border payments.

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Blockchain.com Launches Full Turkish Lira Banking Integration as a Native Payment Gateway for Turkey

Blockchain. com has launched a full banking integration for Turkish Lira (TRY) to create a native payment gateway for users to deposit and withdraw Lira on its trading platform. With this development users in Turkey no longer have to incur high fees and conversion rates from third-party payment processors.

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Ethereum miners' earnings 4x BTC miners' via fees in 2019

The Bitcoin ledger is completing a decade on the 3rd and while it is only 2 days into 2020, the ledger is already setting new records. Bitcoin's hashrate breached its previous high and was recorded toThe post Ethereum miners' earnings 4x BTC miners' via fees in 2019 appeared first on AMBCrypto.

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Binance Coin Price Analysis - Increasing utility within the ecosystem

Binance has masterfully engineered the BNB token to become an all-encompassing aspect in every facet of the ever-growing Binance ecosystem. Because of this, the token has indeed gained a high degree of utility, which may also be seen by some as gatekeeping through the IEO lottery system, DEX listing fees, BEP2 transaction fees, and BEP2 token migrations.

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Bitcoin Fees Could Exceed $100 in 2020: Blockchain Capital

Bitcoin could hit a new all-time high with network fees exceeding $100 in 2020, according to Blockchain Capital

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Cryptocurrency Mining Is Not A Taxable Activity, According to Kazakhstan Law

Mining is an essential component for the cryptocurrency industry, though high electricity fees can make turning a profit more difficult in some areas. The process itself is treated the same way as self-employment, by some countries, resulting in taxation of the miners associated with it.

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Ethereum’s Istanbul Hard-Fork Set To Improve Scalability, Security, And Reduce Fees In 7 Days

Ethereum had quite a mixed year in terms of progress as the price of the ETH token failed to boom after the prolonged crypto winter, and even though it touched a yearly high of $350, it lost all it's gains in the following months.

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Will Online Payment Companies Provide a Mainstream Bridge into Cryptocurrency?

When Bitcoin first started to emerge into the mainstream collective consciousness, it was frequently positioned as a threat to traditional finance. Bitcoin proponents pointed to the high fees charged by intermediaries such as banks and online payment providers, predicting that decentralization would be their downfall.

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