Currently, the Ethereum network is congested and has registered transaction fees that resemble current Bitcoin commissions. So far, the highest commission recorded has been about $ 170.
According to Ethgaststation statistics, a total of 30,501 transactions have been registered in the last 1500 blocks processed. When a block does not have space to process a new transaction, it passes to the next block. But if it is also full, there is no guarantee that the transaction will be processed successfully.
On average, transaction fees were $ 16. Fluctuation in the estimate of the commission indicated that some transactions came to be paid in $ 50 commission. However, at the time of writing this note the commissions seem to be at $ 2 per transaction.
Given this, transactions with very small amounts may be buried by other larger ones, since users are inclined to pay ever higher amounts so that their transactions are prioritized and processed quickly. It is possible that this is due to the fact that many users started using ether, the cryptocurrency of the Ethereum platform, as an alternative to bitcoin. Due to the high transaction fees that have been presented in this network in the last months after the launch of CME Group and Cboe futures and an alleged spam attack that have congested the blockchain.
Similarly, a large number of applications have been created with Ethereum, which greatly increased its popularity. However, the network may not adequately support the increase in use and now faces almost full blocks, giving accounts that replacing one blockchain with another when a system presents problems -in this case Bitcoin- is not a sustainable solution in the medium term in terms of scalability.
The price of the second most important cryptocurrency after bitcoin is currently 1,320 dollars according to CoinMarketCap, but the congestion in its network threatens its growth enormously, since it is not the first time that the Ethereum network collapses. This could show that it is not properly prepared for the growth that has taken place during the last year, if only in the month of December the network was occupied in 15% by the escalation of the viral CryptoKitties.
In recent days, a volume of 1.2 million transactions per day has been reached, according to EtherScan. This increase in transactions led to the gas (the fuel needed to carry out the operations) to be worth $ 1, which caused that the Bittrex exchange house (one of the largest in operation today) were suspended the active deposits of the cryptocurrency until further notice.