Gas Fee

Fuse Wallet from the Solana ecosystem, announced the launch of a new feature called gas abstraction. 

Fuse Wallet Launches Gas Abstraction Feature

<img src="https://static.bittime.com/cms-static/upload/Fuse_Wallet_Launches_Gas_Abstraction_Feature_854947dfce.webp" alt="Fuse Wallet Launches Gas Abstraction Feature" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com?content_id=news&amp;cn=400001">Bittime</a> -&nbsp;Fuse Wallet from the Solana ecosystem, announced the launch of a new feature called gas abstraction. What is the gas abstraction feature? Read this article to find out!<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_2_988b13eca2.webp" alt="Banner 2" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">What is Gas Abstraction?</h2>Gas abstraction is a concept that allows users to pay transaction fees with an asset that is different from the native token of the blockchain network used.&nbsp;In this case, Fuse Wallet allows users to use fuseSOL, not SOL, as a means of paying gas fees on the Solana network.&nbsp;This will certainly provide more convenience for users who may not have SOL, but have fuseSOL.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/en/blog/gas-fee-ethereum-naik">Ethereum Gas Fee Rises to 416 Gwei</a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">How Does the Gas Abstraction Feature Work?</h2>This gas abstraction feature uses sophisticated Paymaster functions. Paymaster functions as a mechanism that automatically manages users' fuseSOL balances to ensure that there are always enough funds to pay transaction fees.&nbsp;Additionally, the system also sets a daily spending limit of 0.1 SOL, which aims to protect users from unexpected spending or from potential abuse.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Blog_7d687b658d.webp" alt="Banner Blog.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Benefits of Using fuseSOL</h2>With this feature, users can not only make transactions without having to worry about gas fees, but can also continue to earn returns from staking fuseSOL. This of course provides double benefits for users who are active in the Solana ecosystem.Additionally, by using fuseSOL to pay gas fees, users can maximize the use of funds on the Solana network without having to hold large amounts of SOL just for transaction purposes. This also allows for better liquidity and more efficient use of funds.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/en/blog/arbitrum-dukung-usdc-sebagai-token-gas-orbit-chain">Arbitrum Now Supports USDC as a Custom Gas Token on Orbit Chain</a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Daftar_Bittime_c71afe9bcb.webp" alt="Banner Daftar Bittime" width="2985" height="620"></a>You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?content_id=news&amp;cn=400001">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?content_id=news&amp;cn=400001"> Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?content_id=news&amp;cn=400001"> Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

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Fuse Wallet Launches Gas Abstraction Feature.webp

Fuse Wallet Launches Gas Abstraction Feature, Pay for Gas with fuseSOL!

Ethereum gas fees have plummeted to their lowest levels in recent years, now averaging below 1 gwei. The following is a complete explanation.

Ethereum Gas Fees Drop Below 1 Gwei, Positive Impact or Potential Problem?

Biaya Gas  Ethereum Turun  di Bawah 1 Gwei - Bittime

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Biaya Gas  Ethereum Turun  di Bawah 1 Gwei - Bittime (1).webp

Ethereum's gas fee rose to 416 gwei. What are the causes and impacts? Read this article to find out!

Ethereum Gas Fee Rises

<img src="https://static.bittime.com/cms-static/upload/Ethereum_Gas_Fee_Rises_ebf312c6c7.webp" alt="Ethereum Gas Fee Rises" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> -&nbsp;Ethereum gas fees rises to 416 gwei according to the latest data from Etherscan. What are the causes and impacts? Read this article to find out the full news!<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_2_988b13eca2.webp" alt="Banner 2" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;text-align:justify;" dir="ltr">What is Ethereum Gas Fee?</h2>On the <a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/trade/ETH-IDR?content_id=news&amp;cn=400001">Ethereum network</a>, gas fees are fees charged to users for processing transactions or running smart contracts.&nbsp;Gas fees are calculated in gwei, which is a small unit of Ethereum (ETH). This gas fee is useful to compensate miners who allocate their computing power to process and validate transactions on the blockchain.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_staking_coin_8abe277d88.webp" alt="banner staking coin.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;text-align:justify;" dir="ltr">Why is Ethereum Gas Fee Rising?</h2><img src="https://static.bittime.com/cms-static/upload/gas_fee_a1f52005fb.webp" alt="Gas Fee Ethereum Naik" width="1754" height="428">Source: etherscan.ioGas fee spikes on <a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH-IDR?content_id=news&amp;cn=400001">Ethereum</a> are often caused by increased activity on the network. Here are several factors that can influence the increase in Ethereum gas fees.<ol style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">High Transaction Volume: When many people make transactions or use DApp at the same time, demand for processing transactions increases. This causes gas fees to spike as users compete to process their transactions faster.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Protocol Launch or Update: A new product launch, token airdrop, or major update in the Ethereum protocol could also cause a temporary spike in network activity, ultimately pushing gas fees up.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">DeFi and NFT Activities: Activity in the DeFi and NFT ecosystem could also be the main cause of the increase in gas fees. The popularity of DeFi applications and NFT purchases often increases the number of transactions requiring validation in a short period of time.</li></ol>&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Blog_7d687b658d.webp" alt="Banner Blog.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;text-align:justify;" dir="ltr">The Impact of the Ethereum Gas Fee Surge for Users</h2>Gas fee spikes such as those currently occurring have a direct impact on various types of users on the Ethereum network. Here are some of the impacts for Ethereum users.<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Retail Users: For retail users who want to make simple transactions, such as sending ETH or other tokens, high gas fees can be a barrier. Many users will likely hold off on transactions until gas fees drop back to more reasonable levels.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">DApp Developers and Projects: Developers running applications on top of Ethereum were also impacted. This fee spike could increase their operational costs, especially if their DApp requires intensive on-chain interactions.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Investor DeFi: For active DeFi investors, high gas fees can reduce their profit margins. Every time they interact with a DeFi protocol, such as staking or yield farming, they have to pay a gas fee, which can erode their investment returns.</li></ul>With Ethereum's transition towards Ethereum 2.0, where the network will switch from proof-of-work (PoW) to proof-of-stake (PoS), there is hope that gas fees will become more stable and lower.&nbsp;However, until this transition is complete, Ethereum users should be prepared to face high fluctuations in gas fees, especially during periods of intense network activity.<h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Daftar_Bittime_c71afe9bcb.webp" alt="Banner Daftar Bittime" width="2985" height="620"></a>You can buy and sell crypto assets in an easy and safe way via Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?cn=400001">&nbsp;Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?cn=400001">&nbsp;Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

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Ethereum Gas Fee Rises.webp

Ethereum Gas Fee Rises to 416 Gwei

Good news comes from the Ethereum network because transaction fees or what is known as Ethereum's “gas fee” have decreased significantly to 5 Gwei. This drop marks the lowest point in recent months and is a breath of fresh air for users and developers active in the Ethereum ecosystem.

Ethereum Gas Fee Drops to 5 Gwei: EIP-1559 Mechanism Proven Successful

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Ethereum Gas Fee Drop to 5 Gwei.jpg

- Good news comes from the Ethereum network because transaction fees or what is known as Ethereum's “gas fee” have decreased significantly to 5 Gwei. This drop marks the lowest point in recent months and is a breath of fresh air for users and developers active in the Ethereum ecosystem.

Ethereum gas fees are fees that users must pay to make transactions or execute smart contracts on the Ethereum network. The amount of this gas fee varies depending on the complexity of the transaction and network density.

Low gas fees are of course a special attraction because they reduce operational costs, making it easier for various activities on the Ethereum network, including DeFi (Decentralized Finance), NFT (Non-Fungible Token) transactions, and other decentralized applications.

Factors Causing the Decrease in Ethereum Gas Fees

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Ethereum H2-a.png

This reduction in gas fees is influenced by several main factors. One of them is increasing network efficiency through various upgrades that have been carried out. Apart from that, Ethereum has also implemented the EIP-1559 mechanism which aims to make transaction fees more stable and predictable.

EIP-1559 changes the way gas fees work by introducing a “base fee” that adjusts dynamically based on network conditions.

With lower gas fees, it is hoped that the number of transactions on the Ethereum network will increase. Individual and corporate users can now carry out transactions at more affordable costs, encouraging wider adoption of blockchain technology.

DeFi and NFT ecosystems that rely heavily on the Ethereum network will also benefit greatly. Lower transaction costs will reduce barriers to entry for new users and reduce costs for projects operating in this sector.

Decentralized application (DApps) developers will be more motivated to build on top of the Ethereum network due to lower operational costs. This can drive innovation and growth in the Ethereum ecosystem.

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Ethereum H2-b.png

The crypto market welcomed this news positively. This reduction in gas fees is expected to bring bullish sentiment to Ethereum and related assets.

In addition, the global crypto community views this move as part of Ethereum's efforts to continue improving the scalability and efficiency of its network, especially ahead of the full transition to Ethereum 2.0 which promises faster transaction capabilities and lower fees through the Proof of Stake (PoS) mechanism.

The drop in Ethereum gas fees to 5 Gwei is good news for the entire crypto ecosystem. With lower transaction fees, activity on the Ethereum network is expected to increase, driving wider adoption and faster innovation. This is also a positive signal for Ethereum's future as the main platform for decentralized applications in the blockchain world.

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Ethereum (ETH) is available on Bittime with the market pair ETH/IDR. To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

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