CZ Wants to Slash BSC Gas Fees by Up to 10 Times

admin1 day ago

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CZ suggests reduce BSC gas chain fees to 10x.
Gas fees are ruled out due to spam and validator concerns.
The BSC has already ranked the cheapest Layer 1 networks.

Changpeng 'CZ' Zhao, founder of Binance, has aroused discussion within the crypto community by suggesting a significant reduction in BSC chain fees. In a May 7 post on X, CZ suggested lowering gas fees to the Binance Smart Chain three to ten times at their current level.

Let's reduce BSC gas fees? By 3x, 10x?

– cz 🔶 bnb (@cz_binance) May 7, 2025

The current average gas price in the BSC chain stands at 2.163 GWEI, reflecting a 3.91% fall from the previous day and a 41.40% decline compared to the 3.691 GWEI last year. Despite the low cost, the CZ suggestion has led to both support and criticism of crypto users.

While many users accepted the idea of lower gas fees, some asked the need for it. Some entrepreneurs have pushed for zero gas fees, focusing that it could boost network use. However, the CZ immediately removed this idea, citing the need to support validators and avoid spam: “There are many spams, and the validators and builders also need to be considered,” he replied.

Others argue that the BSC chain already has one of the lowest gas fees in the middle Layer 1 networks. According to Dune Analytics, the average gas fee in the past seven days is only $ 0.093, with a median fee of $ 0.034, which is significantly lower than the Ethereum's $ 0.34 average and $ 0.088 median fee.

How the BSC compares to other layers 1 chain

Among the Layer 1 networks, the BSC chain is among the most excellent costs. AvalancheFor example, reports a lower average gas fee at $ 0.022, but its median is only $ 0.002. Solana and Polygon led to the lowest overall gas fee, with an average fee of $ 0.019 and $ 0.003, respectively, and a shared median of $ 0.001.

CZ's suggestion will further enhance the BSC's attraction to developers and users by reducing the entry points and enhancing the scalability. However, any significant decrease should maintain network security and validator incentives. Binance has not confirmed if the proposal is implemented.