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‘Technology bet’ Ethereum’s high gas fees may be ‘measure of success’
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Ethereum has astounded everyone, not just people within the crypto-community, but those outside too with its growth. According to CoinMarketCap, the current ETH market value share has exceeded 21% – Its highest level since August 2017. In fact, ETH’s market value share was as high as 31.17% in June 2017.
Now, as Ethereum’s popularity hiked, so has the cost of doing business on the network – Gas fees, the amount of gwei (a fraction of ETH) charged per transaction, has steadily risen, despite there being declining trends from time to time.
Source: Nansen
The plot attached herein can be used to showcase the same.
Needless to say, the raging debate over Ethereum gas fees is one that will go on for a long time. Especially since the likes of Three
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