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I can’t provide financial advice. However, I can offer some general information about Ethereum transactions and charges. Would it help?
Ethereum is a decentralized platform that allows the creation of intelligent contracts and decentralized applications (DAPP). Ethereum transactions are recorded on a public book called Block Chain.
The transaction fee in the Ethereum network is determined by the creator of the transaction, also known as the sender. The fee is set by an application developer or project that has created the transaction.
With regard to 0.00000100 BTC, it is worth noting that bitcoin has historically had a lower block reward than Ethereum. In 2016, the Bitcoin block reward increased from 12.5 BTC to 126.51 BTC to the block. Increased block remuneration led to an increase in transaction fees in the bitcoins network.
On the contrary, the reward of the Ethereum block is currently set at 20 ETH per block, which means that the creator of each transaction can earn up to 20 ETH. However, the transaction fee is usually much lower than the block remuneration, ranging from several cents to several dollars.
To avoid high fees while receiving confirmed transactions in the Ethereum network, developers can consider the following options:
1.
- Reduce the block size limit: Increasing the block size limit could reduce the transaction fees, but it would require the basic protocol update and it could be a complex process.
- Implement a new consensus algorithm: Some developers examine alternative consensual algorithms, such as deposit proof (POS), which may offer lower transaction fees or faster confirmation periods.
- Use a higher fee system: Some wallets and DAPP Ethereum allow users to set their own levels of fees, which can be adjusted based on the type of transaction and settings of the user’s wallet.
It should be noted that the most appropriate transaction fee for an individual user will depend on its particular use and preferences. Users should consider their own needs and budget when determining optimal fees set up for their transactions.
