🚀 Tron's Fee Reduction Impacts Block Producer Revenue
#Tron #FeeReduction #GasFees #Sun #TRX #Proposal789 #GrothenDI #SuperRepresentatives #BlockProducers #Layer1 #TransactionFees #DecreaseTheTransactionFees #BlockchainRevenue #SOL #AVAX
According to Cointelegraph, Tron's recent decision to reduce transaction fees has significantly affected the earnings of its block producers, known as Super Representatives. On September 7, the total daily network fees for these producers fell to $5 million, marking the lowest level in over a year. This represents a 64% decline in revenue over a span of just ten days, dropping from $13.9 million prior to the implementation of the lower fees. Onchain data reveals that the average gas fees on the Tron network have decreased by 60% following the adoption of a proposal that reduced the energy unit price from 210 sun to 100 sun. Gas fees, which are the transaction costs on the Tron network, are measured in its smallest unit, called sun.
The fee reduction was part of Tron Proposal #789, titled “Decrease the transaction fees,” which was activated on August 29 after receiving approval from the Super Representative community. The proposal was introduced by community member GrothenDI, who argued that lowering transaction fees would promote the sustainable and healthy development of the Tron ecosystem. GrothenDI projected that reducing the gas fees to 100 sun from 210 sun could facilitate an additional 12 million potential transfers from users. In the Tron network, one TRON (TRX) is equivalent to 1 million sun, the smallest divisible unit of TRX.
Despite the reduction in gas fees, Tron continues to lead in blockchain revenue among layer-1 networks. Data from Token Terminal indicates that over the past seven days, Tron accounted for 92.8% of the total revenue among layer-1 blockchains, surpassing Ethereum, Solana, BNB Chain, and Avalanche. In the last 90 days, transaction fees on Tron have generated $1.1 billion. While Ethereum has historically led in revenue generation over the past five years with $13 billion, Tron has accumulated $6.3 billion in the same period. This demonstrates Tron's significant presence and influence in the blockchain revenue landscape, even as it adjusts its fee structure to encourage more transactions and user engagement.#Tron #FeeReduction #GasFees #Sun #TRX #Proposal789 #GrothenDI #SuperRepresentatives #BlockProducers #Layer1 #TransactionFees #DecreaseTheTransactionFees #BlockchainRevenue #SOL #AVAX
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🚀 Binance Alpha to Launch Aster (ASTER) Deposit Promotion with 9,990 USDC Prize Pool
#Binance #BinanceAlpha #ASTER #Aster #USDC #BSC #Keyless #BinanceWallet #Alpha #DepositPromotion #RewardsHub #TokenVoucher #Promotion #GasFees #Verification #LiquidityProvider
According to the announcement from Binance, the platform is set to launch a deposit promotion for Aster (ASTER) on Binance Alpha, offering eligible users a chance to share a prize pool totaling 9,990 USDC. The promotion will run from 2025-09-29 10:00 (UTC) to 2025-10-06 10:00 (UTC). During this period, the first 666 eligible users who complete specific steps will each receive 15 USDC in token vouchers. These steps include selecting Binance Wallet (Keyless) in 'My wallets', receiving and depositing a cumulative amount of at least 10 ASTER to Binance Wallet (Keyless) via the BSC chain, and transferring at least 10 ASTER to the Alpha 2.0 Account page under 'Assets' > 'Alpha'. The Alpha transfer-in feature is available only on Binance app version 3.3.0 or above.
Eligibility for the promotion is limited to verified regular users on Binance Alpha, subject to regional product and deposit availability. Liquidity providers in the Binance Spot Liquidity Provider Program and Binance Brokers are not eligible. The deposit volume transferred from Binance private key wallets to Binance wallets (Keyless) will not count towards the final deposit total. Gas fees are also excluded from the final deposit volume calculation. Token vouchers will be distributed to winning users by 2025-10-13, and users can check their rewards via Profile > Rewards Hub. Only assets transferred via the BSC chain are considered eligible deposits. Token voucher rewards will expire within 21 days after distribution, and users must claim their vouchers before expiration. Binance reserves the right to disqualify participants who engage in fraudulent or abusive activities and may amend the terms and conditions of the promotion at its discretion.#Binance #BinanceAlpha #ASTER #Aster #USDC #BSC #Keyless #BinanceWallet #Alpha #DepositPromotion #RewardsHub #TokenVoucher #Promotion #GasFees #Verification #LiquidityProvider
🚀 Blockchain Network Revenue Declines in September Amid Reduced Volatility
#Blockchain #NetworkRevenue #Cryptocurrency #Ethereum #Solana #Tron #Volatility #PANews #VanEck #GasFees #Bitcoin #CryptoMarket #BTC #SOL #ETH
According to PANews, a report by asset management firm VanEck reveals that the blockchain ecosystem experienced a 16% decrease in network revenue in September, attributed to reduced volatility in the cryptocurrency market. Ethereum's network revenue fell by 6%, Solana's by 11%, and Tron saw a significant 37% decline, following an August governance proposal that reduced gas fees by over 50%. The decrease in revenue across other networks is also linked to the diminished volatility of cryptocurrencies and their underlying tokens. In September, Ether's volatility dropped by 40%, Solana's by 16%, and Bitcoin's by 26%.#Blockchain #NetworkRevenue #Cryptocurrency #Ethereum #Solana #Tron #Volatility #PANews #VanEck #GasFees #Bitcoin #CryptoMarket #BTC #SOL #ETH
🚀 Ethereum's Gas Fees Remain Low Amid Rising Blockchain Activity
#Ethereum #GasFees #BlockchainActivity #Dencun #Pectra #TransactionFees #Layer2 #NFTs #Scalability #Crypto #BlockchainUpgrade #EthereumUpgrade #CryptoNews #ETH
According to Cointelegraph, Ethereum's blockchain activity is on the rise, yet gas fees on the network remain at historically low levels. This development suggests a more mature and scalable infrastructure capable of supporting advanced real-world applications. Currently, Ethereum transaction fees are at a mere 0.16 gwei, approximately $0.01 per transaction. For token swaps, the fees are slightly higher at $0.15, and for non-fungible token (NFT) sales, they stand at $0.27, as reported by blockchain data aggregator Milkroad. These low costs contrast sharply with previous periods of high network activity, where demand often drove fees to unsustainable levels, a major criticism of Ethereum in past cycles.
The network's daily transactions have surged to 1.6 million, marking a near one-month high, a level last observed at the beginning of October before a significant $19 billion liquidation event. Active addresses have also increased, reaching a monthly peak of 695,872, according to data from the crypto intelligence platform Nansen. The persistently low gas fees follow the implementation of the Dencun and Pectra upgrades, both aimed at reducing transaction costs and enhancing throughput. The Pectra upgrade, deployed in May, has notably doubled the blob capacity of layer-2 (L2) networks, effectively reducing transaction fees on L2s by approximately 50%. This upgrade has also facilitated the offloading of more transactions from the mainnet, further decreasing costs.
Ethereum's previous significant upgrade, Dencun, has also contributed to reducing L2 transaction fees and offloading more transactions from the L1. As a result, average Ethereum transaction fees have become 95% cheaper a year after its deployment on March 13, 2024, as reported by Cointelegraph. This series of upgrades underscores Ethereum's commitment to addressing past criticisms and enhancing its network's efficiency and scalability, paving the way for broader adoption and more complex use cases in the blockchain ecosystem.#Ethereum #GasFees #BlockchainActivity #Dencun #Pectra #TransactionFees #Layer2 #NFTs #Scalability #Crypto #BlockchainUpgrade #EthereumUpgrade #CryptoNews #ETH
🚀 Vitalik Buterin Suggests EIP to Address Ethereum's Modexp Concerns
#VitalikButerin #Ethereum #Modexp #EIP #Blockchain #Cryptocurrency #EVM #GasFees #ConsensusFailure #SNARK #RSAEncryption #ForesightNews
According to Foresight News, Ethereum co-founder Vitalik Buterin has expressed concerns over Modexp, stating that it hampers Ethereum's development due to its inefficiency and complexity. Buterin warned that Modexp poses a significant risk of consensus failure within the ecosystem. He proposed the introduction of an Ethereum Improvement Proposal (EIP) to replace the precompiled code with equivalent EVM code, despite the potential increase in gas fees. Modexp is primarily used for RSA encryption and signatures, though its applications are limited. Programs utilizing this function can be encapsulated through SNARK.#VitalikButerin #Ethereum #Modexp #EIP #Blockchain #Cryptocurrency #EVM #GasFees #ConsensusFailure #SNARK #RSAEncryption #ForesightNews
🚀 Ethereum Gas Fees Reach Record Low Amid Market Downturn
#Ethereum #GasFees #Layer1 #Layer2 #Blockchain #NFT #DencunUpgrade #MarketDownturn #Crypto #Etherscan #NetworkSecurity #Sustainability #ETH
According to Odaily, Ethereum's Layer 1 blockchain experienced a significant drop in gas fees, reaching a low of just 0.067 Gwei on Sunday. Data from Etherscan indicates that the average cost for executing a token swap is approximately $0.11, while NFT transaction fees are around $0.19. Although these reduced fees benefit users, analysts caution that excessively low fees may signal underlying issues within the Ethereum ecosystem.
Since the Dencun upgrade in March 2024, which substantially lowered Layer 2 network fees, Layer 1 revenue has seen a sharp decline. This has raised concerns about the incentives for network security and sustainability. Critics argue that Layer 2 solutions are encroaching on the revenue of the main Layer 1 network.#Ethereum #GasFees #Layer1 #Layer2 #Blockchain #NFT #DencunUpgrade #MarketDownturn #Crypto #Etherscan #NetworkSecurity #Sustainability #ETH
🚀 OCC Confirms Banks' Authority to Hold Cryptocurrencies for Gas Fees
#OCC #cryptocurrency #banks #gasfees #cryptoassets #stablecoin #financialregulation #digitalassets #networkfees #USregulations #crypto #geniusstablecoin #cryptoregulation
According to Cointelegraph, the U.S. Office of the Comptroller of the Currency (OCC) has issued guidance allowing banks to hold specific cryptocurrencies for the purpose of paying network gas fees. In a notice released on Tuesday, the OCC clarified that U.S. banks are permitted to maintain crypto on their balance sheets to cover network or gas fees, provided these transactions align with permissible activities. The regulator emphasized that an authorized national bank "may hold amounts of crypto-assets as principal necessary for testing otherwise permissible crypto-asset-related platforms." The OCC stressed the importance of conducting these activities in a safe and sound manner, adhering to applicable laws.
The notice builds upon a previous communication from May, which informed banks of their ability to manage digital assets on behalf of customers and outsource certain crypto activities to third parties. This guidance reflects a shift in the OCC's stance on cryptocurrency under U.S. President Donald Trump, aiming to reduce the regulatory burden on financial institutions. The Tuesday letter also referenced the GENIUS stablecoin bill, signed into law in July, which establishes a regulatory framework for payment stablecoins. The OCC noted that stablecoin transactions at authorized national banks will likely necessitate network fees, which can be paid using assets held in custody or through an agent.
While the stablecoin bill was enacted in July, its implementation is expected to take several months as the U.S. Treasury and Federal Reserve work to finalize the regulations. Meanwhile, U.S. Senate lawmakers are reportedly advancing negotiations on a digital asset market structure bill, regarded by many in the industry as a pivotal piece of crypto-related legislation currently under consideration.#OCC #cryptocurrency #banks #gasfees #cryptoassets #stablecoin #financialregulation #digitalassets #networkfees #USregulations #crypto #geniusstablecoin #cryptoregulation
🚀 Ethereum's Gas Fees Determined by Validator Votes, Says Co-Founder
#Ethereum #GasFees #ValidatorVotes #VitalikButerin #Blockchain #Crypto #ForesightNews #CoreDevelopers #FreeMarket #Bitcoin #ETH #BTC
According to Foresight News, Ethereum co-founder Vitalik Buterin stated that the gas fees on the Ethereum network are set by validator votes, with many validators adopting the recommendations of core developers. However, he emphasized that the inclusion of transactions in blocks is entirely determined by the free market. Buterin highlighted that Ethereum does not follow the approach of Bitcoin's core nodes.#Ethereum #GasFees #ValidatorVotes #VitalikButerin #Blockchain #Crypto #ForesightNews #CoreDevelopers #FreeMarket #Bitcoin #ETH #BTC
🚀 Kyle Samani Reflects on Ethereum's Impact and Challenges
#KyleSamani #Ethereum #cryptocurrency #Devcon3 #ETH #GasFees #Scalability #Solana #Multicoin #Forward #Blockchain #CryptoHistory #MarketValue #CryptoChallenges #SOL
According to Odaily, Kyle Samani, co-founder of Multicoin and chairman of SOL treasury company Forward, shared his thoughts on the X platform about Ethereum's influence on his entry into the cryptocurrency world. He noted that Ethereum was his initial source of wealth. However, during the Devcon3 conference held in Cancun, Mexico, in November 2017, he decided to move away from Ethereum. At that time, ETH had become the fastest asset in human history to reach a market value of $100 billion. Despite this achievement, the rising Gas fees highlighted the urgent need for scalability, which created a sense of urgency he had never experienced before.#KyleSamani #Ethereum #cryptocurrency #Devcon3 #ETH #GasFees #Scalability #Solana #Multicoin #Forward #Blockchain #CryptoHistory #MarketValue #CryptoChallenges #SOL
🚀 🔥 Multicoin Capital Co-Founder Kyle Samani Explains Why He Left Ethereum in 2017 🔥
#KyleSamani #MulticoinCapital #Ethereum #CryptoJourney #EthereumDeparture #ETH #Scalability #Layer1 #Solana #Blockchain #GasFees #NetworkCongestion #Layer2 #SmartContracts #CryptoDebate #CryptoInvesting #ScalingSolutions #CryptoSecurity #Decentralization #BaseLayerDesign #SOL
Multicoin Capital co-founder Kyle Samani has shared a candid reflection on his early journey in crypto — and the moment he decided to walk away from Ethereum despite its historic success.In a post on X, Samani said Ethereum was his entry point into the cryptocurrency industry and his first major source of wealth, describing it as both a mentor and a foundation for his career.“Ethereum got me into crypto and was my initial source of wealth,” Samani wrote.Ethereum’s Historic Rise — and a Breaking PointSamani highlighted Ethereum’s rapid ascent, noting that ETH became the fastest asset in history to reach a $100 billion market capitalization. However, he said that same period exposed structural issues that ultimately pushed him away from the ecosystem.The turning point came at Devcon 3 in Cancun, Mexico, in November 2017.At the time:Ethereum gas fees were surgingNetwork congestion was worseningScaling solutions were still largely theoreticalAccording to Samani, this created an “unprecedented sense of urgency” around scalability — one he felt Ethereum was not addressing fast enough.“Gas fees were soaring, and there was clearly a need to scale as quickly as possible,” he said.From Ethereum to Alternative Layer-1sSamani’s departure from Ethereum in 2017 would later shape Multicoin Capital’s investment thesis, including its early and vocal support for high-performance Layer-1 blockchains such as Solana. Today, Samani also serves as chairman of SOL Treasury Forward, further underscoring his long-term conviction in alternative scaling approaches.A Broader Industry DebateSamani’s comments reignite a long-running debate within crypto:Ethereum’s security and decentralization vs. performance and costThe pace of scaling through Layer-2 solutions versus new base-layer designsWhile Ethereum remains the dominant smart-contract platform by market share, his remarks reflect why many early crypto investors and builders explored other ecosystems during periods of network stress.#KyleSamani #MulticoinCapital #Ethereum #CryptoJourney #EthereumDeparture #ETH #Scalability #Layer1 #Solana #Blockchain #GasFees #NetworkCongestion #Layer2 #SmartContracts #CryptoDebate #CryptoInvesting #ScalingSolutions #CryptoSecurity #Decentralization #BaseLayerDesign #SOL
🚀 Ethereum Contract Size Limitations Discussed Amid Security Concerns
#Ethereum #VitalikButerin #EthereumUpgrade #ContractSizeLimit #SecurityConcerns #DoSRisks #EIP7864 #GasFees #Blockchain #ETH
According to Odaily, Ethereum co-founder Vitalik Buterin addressed community concerns regarding the contract size limit on the Ethereum network. He explained that the restriction is in place due to considerations related to Denial-of-Service (DoS) risks. Buterin noted that once Ethereum's state structure is upgraded to a unified binary tree (EIP-7864), it may be possible to remove the contract size limit. However, challenges remain in terms of gas fees and mechanism design for deploying large contracts. Currently, the cost per byte for contract creation sets the practical limit at approximately 82KB.#Ethereum #VitalikButerin #EthereumUpgrade #ContractSizeLimit #SecurityConcerns #DoSRisks #EIP7864 #GasFees #Blockchain #ETH
🚀 Ethereum Faces Surge in Address Poisoning Attacks Amid Lower Gas Fees
#Ethereum #AddressPoisoning #DustAttacks #GasFees #PANews #SecurityResearch #FusakaUpgrade #CryptoSecurity #Blockchain #ETH
Ethereum has recently experienced a significant increase in transaction and address activity, potentially due to large-scale address poisoning attacks exploiting low gas fees. According to PANews, security researcher Andrey Sergeenkov highlighted that these attacks involve creating similar-looking addresses to conduct 'dust attacks,' misleading users into transferring funds to incorrect addresses. Following the Fusaka upgrade, transaction fees have dropped by over 60%, significantly reducing the cost of such attacks. Research indicates that more than 116,000 individuals have been affected, with cumulative losses exceeding $740,000.#Ethereum #AddressPoisoning #DustAttacks #GasFees #PANews #SecurityResearch #FusakaUpgrade #CryptoSecurity #Blockchain #ETH