(1/15)
In the race to produce cheaper, more efficient smart contract platforms have launched in the last few years.
Many of which promised incredibly cheap transaction fees — but how have they actually held up?
Let’s dive in with @CMCAlexandria! 🔥
coinmarketcap.com/alexandria/art…
In the race to produce cheaper, more efficient smart contract platforms have launched in the last few years.
Many of which promised incredibly cheap transaction fees — but how have they actually held up?
Let’s dive in with @CMCAlexandria! 🔥
coinmarketcap.com/alexandria/art…
(2/15)
Still the most active EVM-compatible chain by number of daily transactions, @BNBCHAIN has seen its average transaction fee shrink over the last year — falling from $0.36 to $0.3.
This makes it the second-most expensive EVM chain by average tx fee, behind Avalanche.
Still the most active EVM-compatible chain by number of daily transactions, @BNBCHAIN has seen its average transaction fee shrink over the last year — falling from $0.36 to $0.3.
This makes it the second-most expensive EVM chain by average tx fee, behind Avalanche.
(3/15)
It is still the most popular by on-chain activity, processing more transactions each day than Avalanche, Fantom, and Polygon combined, at over 5M transactions per day.
It is still the most popular by on-chain activity, processing more transactions each day than Avalanche, Fantom, and Polygon combined, at over 5M transactions per day.
(4/15)
Despite seeing its daily transaction count multiply 50 fold in the last year, @avalancheavax transaction fees have fallen by more than 40% over the same period — owed to a series of ‘Apricot’ upgrades.
Despite seeing its daily transaction count multiply 50 fold in the last year, @avalancheavax transaction fees have fallen by more than 40% over the same period — owed to a series of ‘Apricot’ upgrades.
(5/15)
Nonetheless, AVAX transaction fees briefly touched more than $10 last year amid severe congestion when the AVAX token reached its A.T.H. value.
The average C-Chain tx fee now sits at just under $1 making it the most expensive EVM-compatible chain to transact on.
Nonetheless, AVAX transaction fees briefly touched more than $10 last year amid severe congestion when the AVAX token reached its A.T.H. value.
The average C-Chain tx fee now sits at just under $1 making it the most expensive EVM-compatible chain to transact on.
(6/15)
@FantomFDN has seen by far the most significant growth in absolute daily transaction count over the last year.
Swelling from less than 5,000 tx/day in March 2021 to over 880,000/day in March 2022, equivalent to more than 175-fold growth.
@FantomFDN has seen by far the most significant growth in absolute daily transaction count over the last year.
Swelling from less than 5,000 tx/day in March 2021 to over 880,000/day in March 2022, equivalent to more than 175-fold growth.
(7/15)
It has also seen the largest relative change in average transaction fee, which has multiplied more than ten-fold from $0.01 last year to $0.13 currently.
It has also seen the largest relative change in average transaction fee, which has multiplied more than ten-fold from $0.01 last year to $0.13 currently.
(8/15)
This comes alongside significant growth in its DeFi landscape and activity on DEXes like @SpookySwap, @Spirit_Swap and recently launched @solidlyexchange.
This comes alongside significant growth in its DeFi landscape and activity on DEXes like @SpookySwap, @Spirit_Swap and recently launched @solidlyexchange.
(9/15)
Looking at the gas fees on these 4 chains over the past 30 days, only Fantom saw a spike in gas prices towards the end of February, coinciding with the launch and start of @solidlyexchange emissions.
Looking at the gas fees on these 4 chains over the past 30 days, only Fantom saw a spike in gas prices towards the end of February, coinciding with the launch and start of @solidlyexchange emissions.
(10/15)
Over the last year, @0xPolygon has maintained its title as the cheapest EVM chain by transaction fee, with an average fee of less than $0.02 — which is still up eight-fold from a year ago.
CONT.
Over the last year, @0xPolygon has maintained its title as the cheapest EVM chain by transaction fee, with an average fee of less than $0.02 — which is still up eight-fold from a year ago.
CONT.
(11/15)
CONT.
Even during periods of maximum congestion
(Hello, @0xSunflowerLand!), fees have scarcely touched above $0.5.
CONT.
Even during periods of maximum congestion
(Hello, @0xSunflowerLand!), fees have scarcely touched above $0.5.
(12/15)
#Polygon is now the second most active EVM chain, behind BNB Chain, and now processes upwards of 2.7M tx/day. A fifteen-fold improvement in a year.
#Polygon is now the second most active EVM chain, behind BNB Chain, and now processes upwards of 2.7M tx/day. A fifteen-fold improvement in a year.
(13/15)
Overall, every major EVM-compatible chain still beats out Ethereum (currently processing ~1.2M tx/day) in terms of transaction fees.
Both BNB Chain and Polygon do so while processing more transactions, while Avalanche and Fantom are hot on its heels.
Overall, every major EVM-compatible chain still beats out Ethereum (currently processing ~1.2M tx/day) in terms of transaction fees.
Both BNB Chain and Polygon do so while processing more transactions, while Avalanche and Fantom are hot on its heels.
(14/15)
However, with Ethereum layer-2 scaling solutions like @zksync, @optimismPBC, @StarkWareLtd bringing low cost transactions to the network, EVM-compatible chains have some serious competition.
However, with Ethereum layer-2 scaling solutions like @zksync, @optimismPBC, @StarkWareLtd bringing low cost transactions to the network, EVM-compatible chains have some serious competition.
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