by BSC News
August 12, 2022
A deeper look into Ethereum’s gas fees trends in July could provide an insight into what’s to come for the network after The Merge.
Ethereum’s gas fees have long been a thorn in the side of the network’s community.
However, in the past few months, gas fees have become less of an obstacle for users to transact on the Ethereum network. In this story, we use data from AnalytEx, an analytics system created for DeFi 2.0, to give a holistic perspective on gas fees trends from July 2022.
Below are a few highlights from this analysis:
As reported by Forbes India, Ethereum Co-Founder Vitalik Buterin, while attending the Korea Blockchain Week this week, has mentioned that the introduction of layer-two scaling solutions like roll-ups will reduce the network’s gas fees to as little as $0.05, which would completely be a “game-changer” for the network. Even though the upcoming Merge for the network will have no direct impact on the gas fees, the sharding technology presented in Ethereum’s roadmap will also lead to a significant reduction of gas fees for users of the network.
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