Most of the time while doing transactions on blockchain People are facing the High Ethereum gas fee Problem predicted by meta mask. If you are facing such a problem then this post will help and save you money while performing the Transaction on the blockchain.
Most Crypto people use the well-known wallet Metamask to store Ethereum or ERC-20 Based tokens, While people are doing the transaction through Metamask they are getting a gas fee higher than of required gas free for performing the transaction. Today we are going to discuss in detail how can we avoid the high gas fee on the Ethereum blockchain.
What is Ethereum Gas
On the Ethereum blockchain, gas means the cost necessary to perform a transaction on the network. Miners set the price of gas based on supply and demand for the computational power of the network needed to process smart contracts and other transactions. In the Ethereum ecosystem, the gas fee spent by you for the transaction is earned as a reward for the miner who is hosting the node on the network.
The working mechanism of Ethereum gas is simple and easy to understand, where A gas fee is an amount of Ether (ETH) required for an Ethereum blockchain network user to conduct a transaction on the network. Gas fees are used to compensate Ethereum miners for their work in verifying transactions and securing the network.
Why Ethereum gas fee is So High?
As you might know that Ethereum gas fee is much higher than that of other blockchains. While doing the transaction on ether blockchain the gas fee is higher than $5 or even more.
The primary cause of higher gas fees is congestion. However, the traffic of transactions on Ethereum varies throughout the day. At times, you may see a lower gas fee for the same transaction that was costing you more ETH a few hours ago. But, finding out about such times could be tedious.
How to avoid paying a high gas fee?
So, If you are tired of paying the high gas fee while doing transactions on the Ethereum blockchain then here is a solution and good news for you. Owlracle is one of the most popular live gas price predicting services, Owlracle tells the actual amount of gas price required for the transaction. So using the Owlracle services you can avoid using the high gas price predicted by Meta Mask for doing the transaction on Blockchain.
Owlracle also supports 13+ blockchains, So you can use Owlracle in other networks also to avoid paying an overpriced gas fee on Metamask.