The Ethereum (ETH) network is entering another bout of congestion, coinciding with more active trading. This time, the congestion is affecting exchanges, with Binance increasing gas fees for withdrawals, while others choose to stop withdrawals for now.
The Ethereum network has boasted of carrying three times the capacity of Bitcoin transactions. But this time, a lot of pending transactions shrank the real capacity. Events like these point out that despite the hypothetical possibility of building distributed apps on Ethereum, in real life, network usage quickly gets out of hand.
Costs for ETH transactions have increased to $0.66. The apparent reason seems to be a gas-guzzling smart contract for the distribution of 3D Blockchain Token (3DB).
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