Ethereum gas costs plummet as network congestion abates

  • July 16, 2018
  • 3:05 pm ET

Ethereum Gas prices are back under 5 cents, after having peaked at the end of June. FCoin, who has been accused of congesting the network, has adopted a new mechanism to prevent this from happening again.

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With no notice, the network congestion that began on June 25th, due to an abnormal rise in token transactions, has eased.

The problem is said to have resulted from a transaction volume of only 500,000 when total daily capacity should be up around 1.4 million. Chinese exchange FCoin has adopted a new mechanism to prevent this from happening in the future.

Gas prices are currently back under 5 cents, after having peaked well in double digits at the end of June.


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