Binance is among the hottest ecosystems of this cycle.
Native BNB steadies above $1,300 as it leads the altseason, and fundamentals suggest further growth for the project.
Founder Changpeng Zhao has emphasized building and real-world use cases, and their empire continues to double down on encouraging on-chain developments.
A day after BNB Chain received $1 billion to support startups, the platform has officially adopted the 0.05 Gwei gas fee standard across the ecosystem.
BNB Smart Chain’s new standard gas fee of 0.05 Gwei is now fully adopted across the network! Major ecosystem partners including @BinanceWallet, @TrustWallet, @Aster_DEX and more, have switched to 0.05 Gwei as the default gas fee. Spend less on gas, do more on BSC 🤩
The move follows last month’s proposal that sought a 50% gas fee reduction from 0.1 Gwei.
This move aims to ensure affordable transactions for developers and users while keeping the ecosystem reliable and faster.
With lower gas fees, users can execute trades, transfer assets, or interact in decentralized applications (dApps) at a fraction of the cost.
Moreover, the update underscores BNB Chain’s current efforts to make blockchain more accessible and practical to day-to-day users.
BNB Chain collaborated with top players to ensure a smooth rollout. Binance Wallet and Trust Wallet, boasting massive user bases, have already adopted 0.05 Gwei as the default gas fee.
Also, the trending DEX Aster has joined, allowing users to provide liquidity or swap tokens at lower costs. The announcement confirmed:
Major ecosystem partners, including Binance Wallet, Trust Wallet, Aster DEX, and more, have switched to 0.05 Gwei as the default gas fee.
The collective shift reflects how key players are cooperating to bolster network-wide enhancements, with benefits like cost savings trickling down to end users in near-instant.
Gas fees are the charges users incur when using a blockchain. The payments go to validators to secure and process transactions.
Though generally small, gas fees can skyrocket during heightened network activity.
BNB Chain aims to boost user experience by reducing the base fee to 0.05 Gwei.
That makes it cost-friendly for developers deploying smart contracts and users transacting frequently within the Binance ecosystem.
Also, lower costs encourage experimentation, especially for smaller startups that often face constricted budgets.
New builders can capitalize on the reduced fees to test and launch new products.
Also, the update can attract users from other chains where gas fees remain a challenge.
For context, Ethereum’s current average gas is roughly 1.816 Gwei.
BNB Smart Chain has positioned itself as an affordable, scalable, and faster platform for blockchain undertakings.
It has attracted multiple decentralized applications in gaming, DeFi, and NFTs.
The 0.05 gas fee adoption further cements the chain’s cost-efficiency reputation.
Meanwhile, the new model comes as BNB Chain sees massive activity.
Token Terminal data shows the platform recorded $5.58 million in 24-hour fees – the second-highest in the last three years.
JUST IN: $BNB Chain records $5.58 million in daily fees, marking its second-highest level in the past three years.
Such metrics indicate a healthy network supported by steady user engagement and demand.
The post BNB Chain officially adopts an ultra-low gas fee standard of 0.05 Gwei appeared first on Invezz
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Binance is among the hottest ecosystems of this cycle.
Native BNB steadies above $1,300 as it leads the altseason, and fundamentals suggest further growth for the project.
Founder Changpeng Zhao has emphasized building and real-world use cases, and their empire continues to double down on encouraging on-chain developments.
A day after BNB Chain received $1 billion to support startups, the platform has officially adopted the 0.05 Gwei gas fee standard across the ecosystem.
BNB Smart Chain’s new standard gas fee of 0.05 Gwei is now fully adopted across the network! Major ecosystem partners including @BinanceWallet, @TrustWallet, @Aster_DEX and more, have switched to 0.05 Gwei as the default gas fee. Spend less on gas, do more on BSC 🤩
The move follows last month’s proposal that sought a 50% gas fee reduction from 0.1 Gwei.
This move aims to ensure affordable transactions for developers and users while keeping the ecosystem reliable and faster.
With lower gas fees, users can execute trades, transfer assets, or interact in decentralized applications (dApps) at a fraction of the cost.
Moreover, the update underscores BNB Chain’s current efforts to make blockchain more accessible and practical to day-to-day users.
BNB Chain collaborated with top players to ensure a smooth rollout. Binance Wallet and Trust Wallet, boasting massive user bases, have already adopted 0.05 Gwei as the default gas fee.
Also, the trending DEX Aster has joined, allowing users to provide liquidity or swap tokens at lower costs. The announcement confirmed:
Major ecosystem partners, including Binance Wallet, Trust Wallet, Aster DEX, and more, have switched to 0.05 Gwei as the default gas fee.
The collective shift reflects how key players are cooperating to bolster network-wide enhancements, with benefits like cost savings trickling down to end users in near-instant.
Gas fees are the charges users incur when using a blockchain. The payments go to validators to secure and process transactions.
Though generally small, gas fees can skyrocket during heightened network activity.
BNB Chain aims to boost user experience by reducing the base fee to 0.05 Gwei.
That makes it cost-friendly for developers deploying smart contracts and users transacting frequently within the Binance ecosystem.
Also, lower costs encourage experimentation, especially for smaller startups that often face constricted budgets.
New builders can capitalize on the reduced fees to test and launch new products.
Also, the update can attract users from other chains where gas fees remain a challenge.
For context, Ethereum’s current average gas is roughly 1.816 Gwei.
BNB Smart Chain has positioned itself as an affordable, scalable, and faster platform for blockchain undertakings.
It has attracted multiple decentralized applications in gaming, DeFi, and NFTs.
The 0.05 gas fee adoption further cements the chain’s cost-efficiency reputation.
Meanwhile, the new model comes as BNB Chain sees massive activity.
Token Terminal data shows the platform recorded $5.58 million in 24-hour fees – the second-highest in the last three years.
JUST IN: $BNB Chain records $5.58 million in daily fees, marking its second-highest level in the past three years.
Such metrics indicate a healthy network supported by steady user engagement and demand.
The post BNB Chain officially adopts an ultra-low gas fee standard of 0.05 Gwei appeared first on Invezz
Read More
