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- Falling commissions in the Ethereum network
- Layer 2 protocols
Falling commissions in the Ethereum network
Ethereum transaction fees continue to decline from their January highs. Perhaps this was affected by a change in activity on the network. Also, the commissions could be reduced due to the increased use of L2 protocols such as Optimism, Arbitrum and Polygon. At the time of writing, the average cost of a transaction on the Ethereum blockchain is 0.0042 ETH, or $10.89 per transfer. The last time such indicators were observed was only seven months ago, on August 4, 2021.
Layer 2 protocols
Despite the reduction in commissions, some users are forced to use second-level (L2) protocols in search of cheaper transfers. Many of the protocols available today have a fee of less than $1. At the time of writing, the lowest transaction fee (L2) is $0.06 per Loopring transfer. This is followed by Zksync ($0.09), Polygon Hermez ($0.25), Optimism ($0.38), Arbitrum ($0.44), Boba ($0.58) and Aztec ( $1.50).
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