DeFi user pays $36K for one Uniswap transaction, as EIP-1559 draws closer
Ethereum transaction fees are at their highest levels but even the proposed solution wouldn’t have helped this fat-fingered user. Ethereum fees are at record level but even so, one Uniswap user paid well over the going rate with a gas fee of $36,000 for a single transaction.Crypto twitter has been flooded with complaints about the unsustainable fees for using the Ethereum network but the rates only exacerbated one DeFi user’s fat fingered mistake. The exorbitant transaction was tweeted by co-founder and CTO of Groundhog Network, Andrew Redden, who confirmed it was Uniswap....
Related News
A Reddit user said they accidentally paid a fee 80 times the transaction value while executing a swap on Uniswap.
As Ethereum’s transition to EIP-1559 and Ethereum 2.0 loom ever closer, discussions over the future of GPU mining have swept over the crypto mining community. If EIP-1559 fails to bring down Ethereum’s obscenely high transaction costs and thus drive Ethereum mining obsolete, the shift to proof-of-stake certainly will. While these thoughts are a dime a […]
The London hard fork comes with five EIPs. Most importantly, EIP-1559 impacts transaction fees and miner revenue, but how significant is it? The much-talked-about Ethereum hard fork finally went live on Aug. 5 after block 12,965,000 was mined. Dubbed “London,” the software upgrade will bring together significant alterations in Ethereum’s code. Overall, the code changes target improvements to the network’s transaction fee market, user experience and much more.London comes with five Ethereum Improvement Protocols (EIP), with EIP-1559 garnering the most attention due to the impact on....
The torment of waiting hours for a Bitcoin transactions to confirm is officially over, thanks to a little-known trick called ‘child-pays-for-parent’ (CPFP). Transactions in Seconds from Most Wallets. A Reddit post by user super3 Friday states that if a transaction is sitting idle due to a low (or ‘standard’) fee, a CPFP transaction may be created to speed it up – drastically. An unnamed developer reportedly confirmed the validity of the trick, which can be used with a variety of popular wallets. “I learned from one of the developers that works with me that you can use child-pays-for-parent....
Over the summer months, Ethereum transaction fees ran hot, causing the DeFi trend and Uniswap token swapping boom to finally run out of steam. But as transaction fees begin to pick up again after a period of inactivity and downtrend, could it be a signal that another phase of DeFi dominance is about to start? […]