Matters Arising: Reoccurring Failed Ethereum Transactions Increases To 1.2 Million
There's no denial whatsoever that the ethereum blockchain is the most expensive blockchain as most would say it's for those with deep pockets because the gas fees are truly a killer regardless of how much you are transacting. Compared to yesterday's ethereum gas fee price, it's up $18.59 costing $56.55.
Truly, I've never transacted with ethereum before because that would be the death of my worth, it's is pretty pretty expensive but what do one do about it.
Ethereum is the second largest and most trusted cryptocurrency known and it's been in existence for them to have a hold of a lot of people.
There's a thing about transactions when it comes to transacting on a blockchain, you simply need to correctly put in the wallet address in order not to lose funds.
That's the thing about blockchain,you've got to be as precise as possible so that you don't lose your hard earned money.
Apparently, there's been incessant problems with ethereum as in the month of April, there was over 1 million failed transactions yet gas fees were charged from those accounts and were not returned to the senders.
Reading from crypto potato, 1.2 million transactions have failed in the month of May which doesn't say something good.
Comparing with hive blockchain that hasn't been recorded because it takes a second for an account to receive a transaction from the next.
Transactions is something that would never end especially as luxury apparels are now taking advantage of blockchain technologies and transacting cryptocurrency.
Prada have also been the latest luxury apparel to dive into the trend with an ethereum based NFT collection of some of its 2019 shirt brand.
Ethereum is expensive and now there are increasing failed transactions, now I get to understand when someone asked if ethereum is going down.
Although, I don't see that happening as a lot of projects is linked with the blockchain.
Thanks for visiting my blog, till next time.
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Do people lose ETH for failed transactions? I would think that they would allow people to just speed up the transactions instead to get things through.
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Those gas fees are not returned they are just burnt can't really tell about the Ethereum per se
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