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Gas fees on Ethereum layer-2 Polygon (MATIC) surged more than 1,000% to reach a peak of $0.10 as users inundated the network with the minting of Ordinals-inspired tokens dubbed POLS. In a Nov. 16 X (formerly Twitter) post Polygon founder Sandeep Nailwal shared his surprise at the elevated transaction activity on
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A recent spike in transaction fees on Ethereum and Bitcoin appears to have reignited the debate around solutions for scalability and the role of layer 2s.Over the last 24 hours, cryptocurrency users began sharing screenshots showing double, occasionally triple-digit transaction fees on Ethereum and Bitcoin. One screenshot showed gas fees
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The adoption of Ethereum layer-2s is on the rise if Token Terminal data shared on November 6 is anything to go by. According to
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"The methane naturally produced from landfills, biowaste, and elsewhere is often stranded, and Bitcoin miners like Marathon are uniquely positioned to help convert this harmful gas into a productive source of clean, renewable energy," Marathon Chairman and CEO Fred Thiel said. Source
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A Buenos Aires-headquartered oil company, Tecpetrol, has decided to convert excessive gas into energy for cryptocurrency mining.As reported by local media on Sept. 24, Tecpetrol will launch its first gas-powered crypto mining facility in the Los Toldos II Este region, located north of Vaca Muerta in Argentine Patagonia. The company
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A cryptocurrency wallet associated with the prominent trading platform, Binance, has seen massive activity in the last 24 hours, leading to abnormally
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Gas prices on Ethereum’s mainnet temporarily skyrocketed on Sept. 21 following a series of “inefficient transactions” carried out by an address labeled Binance 14 on block explorer Etherscan. The wallet made over 146,000 transactions within a 24-hour timeframe and overpaid for Ethereum transactions, spending as much as 300 gwei on
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A crypto wallet belonging to trading platform Binance has spent 530 Ether (ETH), worth around $843,797, in gas fees in just 24 hours, according to blockchain data explorer Etherscan. On Sept. 21, gas fees on the Ethereum network went from a minimum of 6 gwei, which is around $0.17, up to
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Especially gas fees, the cost of sending and receiving ether (ETH), the native cryptocurrency of the Ethereum blockchain, and the process of managing the user’s ETH balance to cover these additional costs is “burdensome,” Visa said in the blog post. Eliminating this complexity could make blockchain-based transactions more accessible and
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In a potential transformative move for users, Visa, the payments solution provider, is testing an innovative solution enabling on-chain gas fees to be paid using a Visa card.Mustafa Bedawala, a product manager at Visa, presented the report, highlighting an observed challenge with cryptocurrency wallets; the ongoing requirement to oversee Ether
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