Vitalik Buterin Calls For Ethereum Transaction Fee Reform as Gas Costs Surge
While Ethereum’s recent uptick in adoption has been welcomed by many, it has had a strong side effect:
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Gas
Blockchain Bites: Digital Dollars, Ethereum’s Gas and ASX’s Blockchain ‘Lacks Clarity’
Australia’s stock exchange may delay its blockchain overhaul, thought leaders are meeting in Washington, D.C., to discuss the digitization of money and Ethereum devs have a proposal to pump the breaks on high gas fees. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain
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Ethereum Developers Consider New Fee Model as Gas Costs Climb
Demand to transact on the Ethereum blockchain has pushed fees to uncomfortable levels.A new technical proposal helps address high fees by implementing a dynamic pricing system.Called EIP 1559, Ethereum users would now pay a set “base fee” to the network plus a tip to miners.One technical observer calls it “the
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Ethereum Miners Vote to Increase Gas Limit, Causing Community Debate
Ethereum (ETH) miners are currently voting to expand the block gas limit from 10,000,000 to 12,500,000 gas, according to a recent tweet from Bitfly, the parent company of Ethermine pool.What is gas and the gas limit?Gas is a unit that measures the amount of computational effort required to send a
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Alleged Ponzi Scheme Sent the $5 Million in Ether Gas Fees
After a week of searches, it appears that the culprit behind at least two of the anomalous high fee transactions on Ether (ETH) was found.As reported by Chinese blockchain analytics company PeckShield on June 16, the originating address appears to be coming from Korean platform GoodCycle, a recently launched peer-to-peer
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A New Token Lets You Save on Ethereum Fees by ‘Storing’ Gas
[sociallocker id="55298"] Ethereum (ETH)’s fees are hard-coded to only be payable in Ether, but a clever trick with smart contracts allows users to effectively pay for gas with a special token, which reduces the total fee they incur.This principle was used by the team behind 1inch.exchange, a decentralized exchange aggregator,
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Venezuela Raises Petrol Prices, Mandates Support for Petro at Gas Stations
[sociallocker id="55298"] Venezuela has announced that petrol stations across the nation will sell gasoline at a reduced price in exchange for the country’s state-issued, oil-backed cryptocurrency, the Petro.However, the announcement comes alongside the removal of local petrol subsidies that will see the price of gasoline spiking from close to nothing
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This Cryptocurrency Is Up 260% and It Seems to Have More Gas in the Tank
Ever since Coinbase Pro revealed that it will be listing OmiseGO on its retail platform, this ERC-20 token has done nothing but shoot up. Since then, its price skyrocketed by more than 260%. OMG went from trading at a low of $0.62 to a new yearly high of $2.27.Even though
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Argentina’s Natural Gas Infrastructure Moving to Blockchain Technology
Sharing is caring!South American blockchain firm IOV Labs along with Grupo Sabra have launched their Gasnet blockchain network for Argentina’s natural gas distribution system. Gasnor was the first to greenlight the project but was soon followed by Argentina’s gas regulator Enargas who approved the nationwide deployment of the blockchain solution. “We
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$65M Investment Fuels Natural Gas Provider’s ‘Behind-the-Meter’ Bitcoin Mining Operation
On Thursday, a natural gas-based power plant in Dresden, New York, Greenidge Generation LLC, revealed the energy provider has the capacity to
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