Ethereum Layer 2 gas fees 'approaching zero' in 'significant milestone'
CryptoNewsTerminal Staff18 Sep, 2024
Ethereum Layer 2 gas fees 'approaching zero' in 'significant milestone'
Ethereum Layer 2 gas fees 'approaching zero' in 'significant milestone' Ethereum (ETH) founder Vitalik Buterin has said that transaction fees (gas) on Ethereum Layer 2 networks have "basically zero[ed] out" in a "significant milestone" for crypto, according to Cointelegraph. "Gas went from being $0.50 to $10 to a penny," Buterin said, highlighting that major Ethereum Layer 2s Optimism (OP) and Arbitrum (ARB) have already achieved this. "Rollups are rapidly becoming more secure and way cheaper," he added. Conclusion: The reduction in gas fees on Ethereum Layer 2 networks is a significant development for the crypto industry. It makes it more affordable for users to transact on the Ethereum blockchain, and it could help to attract more users to the platform.
