Blockchain Fees | ForkLog

ForkLog 15 19.04.2024

User Pays $17,500 Fee for 1.34 BTC Transfer

On April 19, an unknown wallet transferred 1.34 BTC (approximately $87,000 at the time of the transaction), incurring a fee of $17,500. The transaction rate was 105,305 sat/vB, indicating the user overpaid by roughly 1,269 times. The block containing the transaction was confirmed by a miner from the ViaBTC pool. On April 18, another investor […]

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ForkLog 19 18.04.2024

Bitcoin Transaction Fees Surge Amid Runes Frenzy

The average transaction fee in the Bitcoin network (7DMA) has exceeded $16. Experts from The Block attributed this to user activity in anticipation of the Runes launch. Data: The Block. Bitcoin developer and Ordinals creator Casey Rodarmor introduced Runes in September 2023. The protocol will enable the issuance of fungible tokens on the blockchain of […]

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ForkLog 16 16.04.2024

Plans to Reduce Fees in TON Blockchain Revealed

Developers of The Open Network (TON) blockchain are planning to reduce transaction costs for users and allow fees to be paid directly in Tether’s stablecoin, USDT, in a new contract. This was reported by the Telegram channel DeCenter. This information has not been published in TON’s official channels. However, the project’s roadmap announces the addition […]

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ForkLog 5 04.04.2024

Binance Resolves Issue with Automatic Cancellation of P2P Orders

On April 4, users of the cryptocurrency exchange Binance in Ukraine reported difficulties in executing P2P transactions in the local market. When creating an order to sell USDT for hryvnias, the system automatically cancelled it. The issue persisted for several hours. Screenshot of P2P transaction participants’ conversation. Source: Binance. Shortly after notification from ForkLog, Binance’s […]

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ForkLog 16 20.03.2024

Experts Assess Dencun’s Impact on Ethereum’s Monetary Policy

The successful activation of Dencun, introducing a new architecture for Layer-2 solutions and changes in the staking pool, is set to influence Ethereum’s monetary policy. These changes were analyzed by Glassnode. The Dencun upgrade has activated successfully, introducing a new architecture for Layer-2 solutions to anchor into the mainchain. It also introduces modifications to the […]

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ForkLog 10 18.03.2024

Ethereum Supply Declines Following Dencun Activation

Ethereum’s issuance has dropped to its lowest level since August 2022 following the significant Dencun update activated on March 13. This was reported by CNBC, citing a report from CryptoQuant. According to Ultra Sound Money, the market inflow of ETH over the past 30 days fell to -0.88% compared to an average of -0.25% since […]

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ForkLog 13 14.03.2024

Arbitrum Developers to Slash L2 Transaction Costs Tenfold

The team at Offchain Labs has implemented an update to ArbOS, also known as Atlas. This upgrade will introduce support for BLOB transactions, aimed at reducing the cost of transferring data from L2 to the Ethereum mainnet.

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ForkLog 32 14.03.2024

Dencun Update Significantly Reduces Fees in Layer 2 Networks

Following the activation of the Dencun hard fork on the Ethereum mainnet, gas fees in Layer 2 networks implementing EIP-4844 have decreased significantly. Average fees in L2 solutions. Data: Dune. The key component of the update is the Proto-Danksharding function, designed to scale the blockchain by creating a new type of transaction for large binary […]

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ForkLog 10 11.03.2024

Meme Tokens Drive Ethereum Fees to Two-Year High

The surge in network activity driven by the meme coin frenzy benefits Ethereum investors through rapid deflation, yet complicates blockchain usage, according to a study by IntoTheBlock. In this week’s newsletter, we explore the rise in meme token speculation and how the upcoming Dencun upgrade will impact Ethereum fees.?https://t.co/xVh8pz1Pxh — IntoTheBlock (@intotheblock) March 9, 2024 […]

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ForkLog 21 29.02.2024

Polygon Developers Anticipate Fee Reductions with Ethereum’s Dencun Update

The upcoming Dencun update to the Ethereum mainnet is expected to alleviate the high cost of data availability for rollup networks. This view was expressed by Jordi Baylina, the technical lead of Polygon zkEVM, as reported by The Block. The hard fork activation on the mainnet is expected on March 13. A key component of […]

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ForkLog 16 13.02.2024

Trader Loses Over $100,000 on ERC-404 Token Purchase

An anonymous user, who had previously earned approximately $1.1 million from Pandora, lost over $100,000 on a new ERC-404 standard token. Analysts at Lookonchain highlighted this incident. This trader who made ~$1.1M on #PANDORA spent 42.88 $ETH($113,672) of gas to buy the #ERC404 token $NO. Unfortunately, he was rugged and lost the 42.88 $ETH($113,672)!https://t.co/UR0Zc4TQxS pic.twitter.com/C8EQrJWwhb […]

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ForkLog 37 12.02.2024

Ethereum Gas Fees Surge Amid ERC-404 Frenzy

On February 9, Ethereum’s gas fees soared to an eight-month high, driven by interest in the experimental ERC-404 token standard. Ethereum gas prices. Source: Etherscan. That day, the average gas price reached 70 Gwei (~$60 for a standard transaction), with a peak of 377 Gwei. The last time such levels were recorded was on May […]

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