Binance Smart Chain ; Can it really solve high gas fee issues ?

[Josemendez]

Since the existence of Binance smart chain , we have seen projects moving to Binance Smart Chain because of it's features , especially the low gas fee associated to it in contrast to those of ethereum and Bitcoin.

Within the past few days where there were bullish trend in some altcoins built in Binance smart chain network , there were quite a significant increase in gas fee for transaction. One then ,is forced to consider if Binance smart chain has actually employed features to reduce the high gas fee or they are only associated with low gas fee simply because they have not really gotten much higher market capitalization like that of ethereum and Bitcoin .

In your opinion , do you think that Binance smart chain will actually be able to continue with low gas fee for transaction ,even when they reach the height of ethereum and Bitcoin in terms of market Capitalization ?

 

[sincerem]

Binance smart chain (BSC) is built to help reduce the gas fee when you switched from Bep-20 tokens address. That's the one of the reasons why binance created their smart chain network to help those heavily affected to transact around crypto but where discouraged by high gas fee, by using their own blockchain coins to reduce the high rate of gas fee. With binance you can convert your ETH or BTC to any of the coin with less charges. Same too you can use Bep-20 ETH addresses or BTC to reduce the gas fees attached to those coins.

 

[Josemendez]

Binance smart chain (BSC) is built to help reduce the gas fee when you switched from Bep-20 tokens address. That's the one of the reasons why binance created their smart chain network to help those heavily affected to transact around crypto but where discouraged by high gas fee, by using their own blockchain coins to reduce the high rate of gas fee. With binance you can convert your ETH or BTC to any of the coin with less charges. Same too you can use Bep-20 ETH addresses or BTC to reduce the gas fees attached to those coins.

Seems you didn't read the post well to understand the message I was trying to pass there. Yes , we know that Binance Smart Chain are trying to offer lower gas fee for transaction but the question is , how long can they be able to offer this low gas fee ?
There has been increase in the gas fee for transaction carried out in the Binance smart chain network in the past few days due to increased transaction . If BSC reaches the level of ethereum , can they be able to continue with low gas fee ?

 

[sincerem]

Seems you didn't read the post well to understand the message I was trying to pass there. Yes , we know that Binance Smart Chain are trying to offer lower gas fee for transaction but the question is , how long can they be able to offer this low gas fee ?
There has been increase in the gas fee for transaction carried out in the Binance smart chain network in the past few days due to increased transaction . If BSC reaches the level of ethereum , can they be able to continue with low gas fee ?

Laughs. I didn't notice the increase in the gas fee of the BSC network. I don't often use the Bep-20 tokens address to send receive coins elsewhere cos i don't understand much about it. With the information you quoted here, having increased a little bit for the BSC network. It might still become worrisome in the future when they've gained higher market capitalization like ETH and BTC level. When BTC and ETH started earlier their gas fee was very low, it wasn't high like this, but their increased market value pumped everything up.