Gas Policy Update

A new wave of interest in DeFi on Ethereum has continued to drive gas prices to new heights. 📈

Gas prices continue to rise over the past three months. Source: https://blockchair.com/ethereum/charts/median-gas-price?interval=3m

These are exciting times for Ethereum but an ever-climbing gas market has kept us on our toes. Starting on July 31st, transfers on Authereum will require users to pay a transaction fee in line with the current gas market.

Looking Forward

Our team is actively exploring layer-2 solutions to mitigate high gas prices for users and most recently announced our integration with StarkWare. StarkWare is a layer-2 scalability engine built on Ethereum that has the capacity to handle over 3,000 transactions per second at a cost of 315 gas per transaction. We’re beyond excited to get powerful technologies like this and other solutions into user’s hands. Stay tuned for updates.