Dangerous days have come again for the second largest cryptocurrency by total market capitalization.
Known as the biggest problem of the Ethereum network, scalability causes serious transaction fees to break records when the activity on the network suddenly increases.
This means that individual investors cannot make transactions on the network. Now, a new reason has emerged that clogs the Ethereum network.
ENS Plugged ETH
Ethereum Name Service (ENS) The token, which was released by the team and distributed to its users by airdrop, blocked the Ethereum network.
The airdrop, which was made for people who bought and used ETH domain names before October 31, became very popular on social media. Tokens were distributed on November 8, but those who wish will be able to claim it in the coming months, that is, withdraw it to their wallet. Despite this, the network has literally been on the fringes since November.
Looking at the gas level in the Ethereum network, it is seen that the fees, which were previously $29, increased to $56 as of November 8. This is known as the second highest average transaction fee seen on the Ethereum network in history. The previous record was the average wage of $ 70 when the bull market was active in May. The success of ENS raises the gas average in the network and brings the network to a standstill.
Although many L2 networks based on the Ethereum network have been launched, events like this still continue to clog the network.