A recent article on the website Quartz revealed that the cost of running a node on the Hive blockchain is nearly double that of Ethereum.What are gas fees?
Gas fees are the charges associated with completing a transaction on the Ethereum network. These fees are paid to the miners who confirm transactions and add them to the blockchain.
Gas fees are often thought of as being high, but compared to other blockchain networks, they are actually quite low. For example, on the Hive network, gas fees can be as high as $0.20 per transaction. On Ethereum, gas fees are typically only a few cents.
The main reason gas fees are so low on Ethereum is because the network is designed to be scalable. This means that it can handle a large number of transactions without having to raise fees.
Of course, as more people use Ethereum and the network gets busier, gas fees may start to rise. But even if they do, they will likely still be lower than on other blockchain networks.
How are they different from hive resources?
The main difference between hive resources and ethereum gas fees is that hive resources are designed to be used by a decentralized community, while ethereum gas fees are used to fund the development of the Ethereum network.
Hive resources are used to pay for the development and maintenance of the Hive ecosystem, while ethereum gas fees are used to pay for transaction fees on the Ethereum network.
How can you avoid high gas fees?
There are a few ways to avoid high gas fees:
Use a gas price estimator.
Limit the amount of data you send with each transaction.
Batch your transactions together.
Use a gas price oracle.Conclusion
A lot of people have been saying that hive resources are worse than ethereum gas fees, but I disagree. I think that hive resources are actually a lot better because they're more efficient and they don't require you to pay any fees. Overall, I think that the hive resource model is a lot better than the ethereum gas fee model, and I hope that more people start using it.
~~~ embed:1575544301865795585 twitter metadata:RmFybXN0ZWFkZXJ8fGh0dHBzOi8vdHdpdHRlci5jb20vRmFybXN0ZWFkZXIvc3RhdHVzLzE1NzU1NDQzMDE4NjU3OTU1ODV8 ~~~
The rewards earned on this comment will go directly to the people( @lovelust, @wanderingmoon ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
This is an interesting comparison. Id like to see a more in depth comparison.
i will as soon as i do more research
Based on your quote ...
"For example, on the Hive network, gas fees can be as high as $0.20 per transaction. On Ethereum, gas fees are typically only a few cents."
I think you might have gotten the wrong HIVE blockchain? There's another chain also called HIVE for some reason 🤣.