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12837
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The Coin Rise 2025-02-16 17:00:57

BNB Chain Joins Memecoin Mania First as Gas Fees Jump 400%

BNB Chain Joins Memecoin Mania First as Gas Fees Jump 400%

BNB Chain as witnessed a massive surge in users’ gas fees in the last seven days. According to a report, BSC raked in approximately $15 million in gas fees, representing a 400% increase. This more than doubles the amount on Ethereum amid the growing speculation of memecoin on the network. BNB Chain Gas Fees Soar as Memecoin Frenzy Intensifies Notably, the spike in gas fees followed Chain’s release of a new optimization for its BSC network. The rumors about a memecoin caused congestion on the network and pushed gas fees upward. Aurelie Barthere, a Nansen analyst, noted that while BSC’s gas fees jumped in the last seven days, other blockchains like Base, Ethereum, and Solana registered a decline. Barthere believes that the 60-day pause in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Binance is a major contributor to this development. To handle the surge in traffic and delay the prompt inclusion of transactions, BNB Chain says it will prioritize block value. That is, it will give priority when dealing with crucial transactions interacting with time-sensitive contracts. Prioritizing High-Value Transactions BSC validators stop bid evaluation once the block limit is hit, and new blocks are mined every three seconds. This arrangement fails during periods of high traffic as memecoin swaps, which are time-sensitive, do not make it into a block. Disappointingly, priority is still not granted even when users increase their gas fees to fast-track transactions. Hence, validators would now have permission to gather more bids within the three-second window. The goal is to accord higher-value transactions priority over lower ones. This could increase the chances of improving overall blockchain performance, particularly during high network activity periods. Memecoins and CZ’s Dog Fuel BNB Chain Hype Meanwhile, as BNB Chain deals with this, Changpeng “CZ” Zhao, Binance founder’s dog, Broccoli, has inspired the creation of several memecoins . This has added to increased network activity. In a recent update shared with the community about the network upgrade, CZ assured us there would be more to come. He urged the community to “Build,” a motto that many now attributes to him and serves as a caution for innovators and investors to focus on what matters. The post BNB Chain Joins Memecoin Mania First as Gas Fees Jump 400% appeared first on TheCoinrise.com .

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