Analyst Blames XEN Transactions For Ethereum Gas Fee Spikes

- Ethereum gas fees reached a 10-month high in the past week.
- The recent spike in gas fees on the Ethereum network is mainly due to the XEN token.
- XEN token consumed up to 90% of gas per block in single transactions.
Ethereum gas fees reached a 10-month high in the past week. According to a software engineer with the Twitter identity Cygaar, the recent spike in gas fees on the Ethereum network is mainly due to the XEN token. He noted that the token consumed up to 90% of gas per block in single transactions.
Cygaar then noted the importance of EIP4844 and Layer 2 protocols for scaling Ethereum. According to him, such implementations would prevent situations where single apps will be responsible for spiking gas fees for everyone else using the network.
Further, Cygaar cited a report that describes the EIP4844 upgrade as a viable s…
The post Analyst Blames XEN Transactions For Ethereum Gas Fee Spikes appeared first on Coin Edition.
Analyst Blames XEN Transactions For Ethereum Gas Fee Spikes

- Ethereum gas fees reached a 10-month high in the past week.
- The recent spike in gas fees on the Ethereum network is mainly due to the XEN token.
- XEN token consumed up to 90% of gas per block in single transactions.
Ethereum gas fees reached a 10-month high in the past week. According to a software engineer with the Twitter identity Cygaar, the recent spike in gas fees on the Ethereum network is mainly due to the XEN token. He noted that the token consumed up to 90% of gas per block in single transactions.
Cygaar then noted the importance of EIP4844 and Layer 2 protocols for scaling Ethereum. According to him, such implementations would prevent situations where single apps will be responsible for spiking gas fees for everyone else using the network.
Further, Cygaar cited a report that describes the EIP4844 upgrade as a viable s…
The post Analyst Blames XEN Transactions For Ethereum Gas Fee Spikes appeared first on Coin Edition.