Ethereum and
Solana have faced challenges to meet growth expectations due to the emergence of a new, revolutionary cryptocurrency called
Zero Gas Coin. Their performance has been disappointing especially as Ethereum's gas fees rose significantly as network activity surged. Interestingly, the rising transaction fees have spurred a shift in MEME coin activity, which has led to an 80% drop in GAS fees on the Solana DeFi platform, Raydium.
Solana-based
Elmnts has launched a tokenized oil and gas platform and
Arbitrum has partnered with Circle to integrate USDC for Orbit Chain gas fees. A noteworthy innovation is
Tron's development of a gas-free stablecoin for Ethereum and Tron chains. Consequent to these events,
Ethereum's Gas Fees have dropped to a 5-year low.
Despite these developments,
Ethereum's gas fees have fluctuated and surged by 498% in just two weeks before a recent drop. There has been confusion in deciding if the gas fees are too low or too high.
Vitalik Buterin, Ethereum's co-founder, has proposed an Ethereum gas model overhaul.
In other news,
Coinbase has rolled out a smart wallet with no gas fees, and alternative solutions are being developed to deal with high gas fees. For instance,
Rabby Wallet has introduced GasAccount to simplify gas payments, and
Justin Sun confirmed the development of a gas-free stablecoin solution.
Enegix Global is building a natural gas-powered 80 MW crypto mining center in Brazil. On a similar note, an Argentinian energy company plans to mine Bitcoin using stranded gas, reflecting a trend of cryptocurrencies finding innovative solutions to reduce their environmental impact.
Finally, significant changes are coming to Ethereum’s account abstraction to save on gas, and Meme Coin activity has driven fees on the Ethereum network to a nearly 2-year high.
GAS Coin News Analytics from Thu, 27 Apr 2023 13:09:15 GMT to Wed, 23 Oct 2024 20:00:00 GMT -
Rating 7
- Innovation 8
- Information 9
- Rumor -5
