One problem that has bugged BBS tokens is the high gas fees. Whether we just want to withdraw BBS tokens from the default BBS wallet to a Metamask wallet or to stake/restake BBS tokens, we have to incur exorbitant gas fees. 😭

As BTC surged past $50, 000 yesterday, the ETH gas fees rose to its highest level in 8 months. As BTC price retreated to $48.4K the gas fees also eased slightly.

The problem will not go away and gas fees will go up again as BTC continue to go up in price. The problem with ETH is its slowness and so the congestion it faces when the volume of transaction is high. We were promised some improvement with ETH 2.0 but this has not turned out to be so. Gas fees remained high.

Now we are told that the ERC 404 protocol for ETH will reduce gas fees for ETH. Let us see whether this will materialize. One problem with ETH is that it is slow to implement the changes it proposes. ETH 2.0 was delayed by more than 2 years. Now we will have to wait for don't know when before ERC 404 is implemented.

The promised reduction in gas fees of between 27% to 50% is substantial but the ETH gas fees will still be very high compared with Solana and Avalanche. 

Will we be satisfied with the improvements that will come to ETH? 

Should BBS consider whether It should be ported over to EVM compatible Solana?