Ethereum Network Congestion : Need for Urgent Intervention

Ethereum Network Congestion

The network congestion of Ethereum needs to be sorted out by the management. During the Crypto Kitties NFT craze in 2017, the crypto world was stunned when the network was clogged up. In development and roll-out, there were subsequent delays in Ethereum 2.

With the rise of decentralized finance (DeFI), Ethereum network congestion, became coherent. In 2020,  Defi came of age and other financial instruments and decentralized lending became more popular, the processing and transaction cost, rose accordingly.

On the price effect of ETH. The cost of transaction on the network is directly connected to the price of ETH on the market. Gas prices crashed to nearly 70% at the beginning of March, 2021 and immediately that was done, Ethereum rose to 11.5% in a day.

 

 

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