
Binance CEO Changpeng Zhao proposed reducing gas fees on the Binance Smart Chain (BSC) by three to ten times, sparking discussions about the potential impact on network activity and security. While lower transaction costs could increase user engagement, concerns were raised about the risk of spam transactions and the need for builders and validators to prepare for higher loads. Binance's official BNB Chain account also solicited community input on the extent of gas fee reduction. In comparison, the aelf blockchain highlighted its current model, where average transaction fees are as low as $0.00004, and users can receive daily gas exemptions by holding specific token amounts, effectively bypassing gas fees altogether.
💡Did you know that... On aelf, average transaction fees are as low as $0.00004 and yes — gas exemptions are real: ☑️ Hold ≥10 $ELF → 1 ELF/day exempted ☑️ Hold ≥5 $USDT → Additional 1 ELF/day exempted You don't reduce gas. You skip it entirely. #aelf #GasFees #Web3Infra https://t.co/92eOtTzbi5
How much would you reduce the gas fees on BSC by? 🤔 https://t.co/maecbk2IWg
CZ tweeted out asking for thoughts on cutting gas fees by 3–10x 👀 Cheaper txs could spark more activity, but it also opens the door to spam. Builders + validators would need to prep for heavier loads. Worth the tradeoff? https://t.co/2nO2Hh1d06