The former CEO of Binance, Changpeng Zhao, proposed to reduce the gas costs of the intelligent BNB (BSC). In a post on X, Zhao suggested cutting the 3x or 10x costs.
If it is implemented, the move could see BSC gas costs fall unless one penny. Currently, the BSC scan Gas Tracker shows that the network bills on average 1 GWEI, worth $ 0.013 to treat transactions.
However, this is only average costs, and gas costs can change depending on the complexity of the transaction and the priority chosen by users. Bitbag Data show that rapid transaction costs are currently 1.5 GWEI ($ 0.019).
Although these costs are generally low, the costs may increase, especially during periods of high network activity. Data from Ycharts Shows that BSC had average costs of 24.28 GWEI on February 14, 2025.
Interestingly, the highest daily average costs recorded were August 30, 2020, when the costs increased to 305 Gwei. However, it was a unique body that has not happened since then.
Reactions to the proposed reduction
In the meantime, the proposed reduction has generated a positive reaction from many members of the cryptographic community who believe that the reduction in transaction costs will be a positive development for the network.
BSC recently experienced an increased volume, which is obvious in its 2.26 million active addresses in the past 24 hours, according to Defillama. However, many believe that reduced costs could considerably increase the DEFI activity and allow it to better compete with Ethereum and Solana.
The impact of reduced costs on network activity cannot be overestimated. The low costs and the transaction speed are two of the main factors that stimulate transactions on most intelligent contract networks and remain one of the reasons why most Ethereum users prefer Ethereum Souche-2 networks to maintenance.
Tron Justin Sun recommended the reduction of blockchain network fees to increase activity in 2024.
He said:
“OMI, the drop in costs and the increase in the energy ceiling will not harm the profitability of Tron. The drop in costs should lead to transactions to 20 m and more per day in three months, expand market share and increase profits. ”
Although there is not yet a decision on the reduction rate, some people have called for total costs. However, Zhao does not support the idea and thinks that it would affect the participants in the network and could lead to spam on the network.
He said:
“Lots of spam, and must also consider validators and manufacturers.”
However, everyone does not see the need for a reduction if necessary. A user noted That the costs should remain as they are, and so that BSC focuses rather on BNB burn, which is good for the growth of tokens.
BNB sees light gains while Standard Charterd plans the price to go 4x
In the meantime, Some users were more concerned with the value of the native cryptocurrency of BSC, BNB, noting that it must increase. Although the token was one of the good performers this year, with only a 14% drop in the year, some users want to see a substantial increase in its value.
Interestingly, these users could soon make reality their wish, given a recent Chartered Standard report which predicted BNB could increase by 360% in three years.
The World Director of Bank's Digital Asset Research, Geoffrey Kendrick, said in a recent report that BNB had negotiated online with Bitcoin and Ethereum since 2021. He predicted that the correlation would continue, and if that happened, BNB is worth $ 2,775 by the end of 2028.
However, Kendrick acknowledges that his use case is currently limited due to the least due to developers who use it compared to other native tokens. Thus, an increased activity of developers on BSC and Binance, which maintains its domination as a leading blockchain, could increase the price of BNB.
The token is negotiated at $ 602 after having increased by 1% in the last 24 hours. It remains one of the main highlights of the most efficient CAP in the last 30 days, with a gain of 8.67%.
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