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

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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. And it once cost a handful of dollars to, say, create a “CryptoKitty” on the Ethereum blockchain. While both networks have seen technical improvements since then, fees have still been subject to rocketing higher, as has been seen over the past few weeks. Fixing Ethereum’s High Transaction Fees Early in May, analysts started to notice that spending Ethereum was starting to become expensive. One data analyst in the space noted that by May 15th, the cost of gas on Ethereum reached 41 Gwei — up by 300% from just weeks earlier and over 1,000% that seen at the start of 2020. Gas prices on Ethereum have been skyrocketing over the past month.…

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