Ethereum gas charge tokens have hit turbulent times and a suspicion that they are part of a Ponzi scheme. Gas fees charged by Ethereum is causing frustration with some users. Others are trying to capitalize on this discontent among the token users. There are two camps of token users who have garnered interest and attention from some sectors in the industry.
The GAS token was introduced in December 2021 and made available to claim by ETH users who spent a lot of money on fees in the past. The purpose of the token was to provide crucial insights and a voice for the most active users.
Gas fees charged by ETH make it difficult to average out costs of buying assets requiring self-custody. Even if low-cost NFTs are adopted, this is not sustainable on the ETH blockchain because of high gas fees.
In spite of concerns expressed by legitimate users, ETH is still the King of this world and doesn’t face a challenge at this point in time. In many cases, high gas fees have stopped investors from making bad decisions and paying extra over market value. One expert feels that even though he has issues with on-chain ETH transactions, the focus is on other issues. He thinks challengers are focused more on hype and not as much on the substance. Till this issue gets sorted out, Ethereum is still the dominant player in the cryptocurrency world.