Analyst Ryan Sean Adams posted a screenshot on May 3 showing the fees in second layer solutions for Ethereum. Vitalik Buterin confirmed that the fees are still too high.
According to the l2fees.info service, the highest transaction fees are set in the Arbitrum One solution – $0.85 for ETH transfer and $1.19 for token exchange. The currently lowest fees are offered by the Metis Network solution – $0.02 and $0.15 respectively. Ethereum co-founder thinks fees should be reduced to $0.05:
“We need to aim below $0.05. Then, I think, the commissions will be really acceptable. But we are definitely doing well. I think after the introduction sharding we can really achieve that level of commissions.”
Needs to get under $0.05 to be truly acceptable imo. But we’re definitely making great progress, and even proto-danksharding may be enough to get us there for a while!
— vitalik.eth (@VitalikButerin) May 3, 2022
On the first layer of the Ethereum network, fees are now $3.10 for ETH transfers and $15.49 for token swaps. About $6 billion is now blocked in second-tier solutions. The indicator has significantly decreased compared to the beginning of April, when it reached $7.4 billion. Arbitrum One remains the leader among Ethereum scaling solutions, in which 57% of the total amount of assets is blocked.
Earlier, Alexandra Demidova, creative director of Bits.Media, said that the transition of Ethereum to the Proof-of-Stake algorithm would only be the beginning of the development of the second cryptocurrency network.
Source: Bits
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