Latest news with #transactionfee
Crypto Insight
06-08-2025
- Business
- Crypto Insight
Ethereum proposes unified fee market to simplify transaction costs
Ethereum co-founder Vitalik Buterin and developer Anders Elowsson have introduced EIP-7999, a proposal to streamline Ethereum's transaction fee structure. Released on Tuesday, the proposal seeks to establish a unified multidimensional fee market, allowing users to specify a single aggregate maximum fee for multiple resources. The proposal, if adopted, would eliminate the need to estimate and manage multiple fee components when submitting transactions and let users specify one all-encompassing maximum fee, making paying for transactions simpler and more predictable. The proposal is described as a way to 'simplify fee management by letting users specify a single max fee across multiple transaction resources, improving capital efficiency and user experience.' It is under community review and discussion ahead of potential implementation. Ethereum's long-time problem with gas fees Ethereum's gas fees have been a persistent challenge since the network's rapid growth in 2017, when a surge in decentralized applications (DApps) and initial coin offerings (ICOs) led to increased congestion and soaring transaction costs. The situation worsened during the 2021 DeFi summer and NFT boom, when average gas fees often exceeded $50 per transaction. In response, Ethereum implemented the EIP-1559 upgrade in August 2021, which introduced a base fee burn and aimed to stabilize fees. Although it helped moderate fee spikes, periods of high congestion still resulted in volatile and sometimes prohibitive gas costs. To further ease the burden, layer 2 scaling solutions like Optimism and Arbitrum gained popularity, processing transactions offchain to lower fees. However, Ethereum's mainnet fees remained a concern, prompting ongoing development efforts culminating in the Dencun upgrade in March 2024. Dencun's impact: gas fees fall as competitors gain ground The Dencun upgrade, implemented on March 13, 2024, introduced nine Ethereum Improvement Proposals (EIPs) to improve scalability and lower transaction costs, particularly for layer-2 solutions. Within a year, average gas fees for common transactions dropped 95%, from about $86 to $0.39, according to Etherscan data. Ethereum's native token price fell over 50%, reflecting broader market challenges. Ethereum still remained the top blockchain by transaction fee revenue in 2024, earning $2.48 billion, a 3% increase over 2023. However, fee income was volatile after Dencun, as competitors gained ground. In the same year, Tron's fees more than doubled to $2.15 billion, driven mainly by stablecoin transactions, and Solana's fees surged 2,838% to $750 million amid a spike in network activity. According to data from Token Terminal, over the last 365 days, Ethereum's revenue generated by fees stands at $757.4 million at this writing. Source:
Yahoo
25-06-2025
- Business
- Yahoo
Flutter Responds To Illinois Transaction Fee
Flutter Entertainment plc (NYSE:FLUT) is among the 10 Best Casino Stocks To Buy Now. FanDuel, Flutter Entertainment plc (NYSE:FLUT)'s top U.S. brand, announced that it will begin charging a $0.50 transaction fee per bet in Illinois starting September 1, 2025. A bustling casino table surrounded by players, highlighting the gaming entertainment offered by the resort. The Illinois legislature decided to impose a new betting transaction fee on all sports wagers in the state on July 1, 2025, and this response comes after that decision. Flutter Entertainment plc (NYSE:FLUT) stated that after previously bearing the 2024 Illinois betting tax hike, the additional expense renders ongoing client subsidies unsustainable. The firm affirmed that the $0.50 cost will be waived in the event that the state changes its policy. According to Peter Jackson, CEO of Flutter Entertainment plc (NYSE:FLUT), the Illinois Transaction Fee penalizes highly invested regulated operators like FanDuel and disproportionately affects lower-wage recreational players. He cautioned that the increased charge would push wagerers to unregulated markets with no consumer protections or tax collection. Flutter Entertainment plc (NYSE:FLUT) underlined that exorbitant fees boost the illegal betting industry while compromising the long-term state income and user experience. While we acknowledge the potential of FLUT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None. Melden Sie sich an, um Ihr Portfolio aufzurufen.
Yahoo
25-06-2025
- Business
- Yahoo
Flutter Responds To Illinois Transaction Fee
Flutter Entertainment plc (NYSE:FLUT) is among the 10 Best Casino Stocks To Buy Now. FanDuel, Flutter Entertainment plc (NYSE:FLUT)'s top U.S. brand, announced that it will begin charging a $0.50 transaction fee per bet in Illinois starting September 1, 2025. A bustling casino table surrounded by players, highlighting the gaming entertainment offered by the resort. The Illinois legislature decided to impose a new betting transaction fee on all sports wagers in the state on July 1, 2025, and this response comes after that decision. Flutter Entertainment plc (NYSE:FLUT) stated that after previously bearing the 2024 Illinois betting tax hike, the additional expense renders ongoing client subsidies unsustainable. The firm affirmed that the $0.50 cost will be waived in the event that the state changes its policy. According to Peter Jackson, CEO of Flutter Entertainment plc (NYSE:FLUT), the Illinois Transaction Fee penalizes highly invested regulated operators like FanDuel and disproportionately affects lower-wage recreational players. He cautioned that the increased charge would push wagerers to unregulated markets with no consumer protections or tax collection. Flutter Entertainment plc (NYSE:FLUT) underlined that exorbitant fees boost the illegal betting industry while compromising the long-term state income and user experience. While we acknowledge the potential of FLUT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None.
