At least from 2014 From the year onwards , High transaction costs have always been a pain in the hearts of investors and blockchain projects , At that time, the co-founder of Ethereum network Vitalik Buterin When referring to bitcoin, it means ,“‘ Money Internet ’ You shouldn't spend... Per transaction 0.05 dollar . It's a little ridiculous .”

Fast forward to 2021 year 11 month , Approve a token so that it can be used in Uniswap A simple act of trading on , Depending on the time of day , May cost up to 50 The dollar ETH.

Ethereum average gas cost source :Etherscan

The second layer solution is called an agreement that helps solve the cost problem , But we can't escape the curse of the high cost of congested networks , Because new users enter the cryptocurrency ecosystem every day .

Arbitrum Shouldn't it be cheap ? ha-ha , What a joke

— satsdart (@satsdart) 2021 year 11 month 2 Japan

Users migrate to lower cost networks

As Ethereum costs continue to rise , More and more users are bridging assets to lower cost Ethereum virtual machines (EVM) Compatible network .Dune Analytics Data show that , since 10 Since the beginning of the month , The total lock-in value on bridge agreements has been on the rise .

Total lock-in value on Ethereum bridge source :Dune Analytics

As shown in the figure above , In the past month ,Ronin Bridge It has become one of the more popular agreements , This is largely due to Axie Infinity Users migrate assets to this lower cost platform .

following Token Terminal The chart showing agreement revenue shows Axie Infinity The popularity of .

Press past 7 Day cumulative agreement revenue ranking items source :Token Terminal

The third agreement by revenue is PancakeSwap (CAKE), This is a high on the coin security smart chain TVL Of DeFi agreement , The transaction cost provided by Qianan smart chain is much lower than that of Ethereum .

In the past week ,TVL The main winners are also based on Ethereum's competitors' agreements , Or a protocol that provides multi chain functions in a side chain environment .

Press past 7 God TVL Trend ranked items source :Token Terminal

Avalanche、、Yield Yak、Benqi、SpookySwap and Loopring It is also a multi chain or Ethereum side chain compatible network , in the past 7 In the day , Its TVL There has been a substantial increase .

Unless we can solve the problem of high transaction cost of Ethereum network in the short term , Otherwise, the trend of mobility migration to other blockchains may continue .

Cointelegraph Chinese as a blockchain news and information platform , The information provided only represents the author's personal views , And Cointelegraph Chinese platform position has nothing to do with , And does not constitute any investment and financial advice . Please set up a correct concept of money and investment , Improve risk awareness .