Founder of binance Changpeng Zhao The discussion began around a potential reduction in gas fees in the BNB chain, suggesting a cut three to ten times. The proposal will come as network activity rises and the pressure increases from more competitors like Solana.
To date, the BNB chain has a low fee, with a median gas price of 1 GWEI, which is about $ 0.01 per transaction. In the last 24 hours, the network has been processing more than 7.2 billion transactions, with an average charge of $ 0.0945. Zhao's idea is already competitive, and this can mean even lower user costs.
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But removing all fees can have bad results, such as spam and excessive lame on network validators and infrastructure. The challenge is to lower the fees without a disturbance in stability or incentives to the developer.
The Ethereum still has a relatively high transaction cost, though. Usually, it costs $ 0.42 in 24 hours, even if they make upgrades to improve efficiency.
Meanwhile, Solana sets the standard for usability. It has an average fee of 0.000024 Sol, or about $ 0.0035, making it a very reach -Create option for users while also supporting high throughput.
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Zhao's idea could make the BNB chain stronger in the competitive L1 scene as it offers a middle ground between Ethereum's strength and Solana's efficiency. No official announcement yet.
