Ethereum has updated the record for the number of transactions per day amid activity in the DeFi space
The continuing hype in the decentralized finance (DeFi) space helped push the new record. Yesterday about distribution own tokens announced decentralized exchange Uniswap. To every old user exchanges was introduced possibility get 400 UNI worth about $ 1 000 at the beginning trades.
The vast majority of existing DeFi projects today use blockchain Ethereum leading to increased load on network and exacerbating the scalability problem. Ethereum miners also managed to collect for the first time yesterday about $ 1 million on commissions per one hour.
According to the GasNow tracker, since then activity Ethereum users fell, and the price of gas at the standard processing speed is now 208 gwei, which is the equivalent of $ 1.69 for a regular payment transaction. More recently, for making deals on Uniswap, users were have to pay over $ 50 and even more large sums for complex transactions in DeFi services.
“Ethereum is now almost unusable for use, – writes Messari analyst Ryan Watkins. – Can only imagine what retailers will think investors, if they are suddenly come to this market and face commissions of $ 50 + when time waiting for confirmation of the transaction in 10+ minutes. Protocols are ready, infrastructure is not ready “.