Currently, ethereum has reached impressive values, but its [gas] rate has also risen to the point where it is impossible to use the ethereum blockchaim. No one will make transactions at such a high rate! On the other hand, this has paved the way for competition.
- Some of ETH competitors
We can see that BNB, ADA, Solana, Neo DOT, and other competitors have been standing out, and getting valuable in view of their low rates.
What has been done to alleviate this problem?
Says a cointelegraph story: "A long-awaited upgrade to the Ethereum network that could result in ETH becoming a deflationary asset is now scheduled for the" London "fork in July. The proposal, co-authored by the co-founder of Ethereum, Vitalik Buterin, will transition Ethereum's fee structure from a bidding system that allows miners to prioritize the highest bids. The new fee structure will dynamically and programmatically adjust fees so that users pay only the bid lowest for each block. In addition, the base network fee will now be "burned" on each transaction, potentially leading to deflationary token savings for ETH. "
Ethereum will do its best to lower the rates.
Now do you understand why BNB, ADA and other competitors have risen so much?
Me too..
