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What does Ethereum mean by handing over the wallet (Ethereum transaction costs)

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What does Ethereum mean by handing over the wallet (Ethereum transaction costs)

What does Ethereum mean by handing over wallets? According to trustnodes, what does Ethereum mean by handing over wallets. Trading through Ethereum can convert Cryptocurrency into Fiat money and purchase Bitcoin or Litecoin with fiat. But there are two ways in the market at present to withdraw cash directly from the exchange. One is to provide digital currency storage in an exchange centric way, and the other is to issue tokens on the Ethereum chain. This wallet type based on Ethereum network is called Ethereum Handover Wallet (ETHC), which allows users to use their private keys to send and receive digital assets; Alternatively, choose the currency you want to transfer for payment

Ethereum transaction costs

The average transaction cost of Ethereum has increased by more than 25% in the past 24 hours, because the cost of conducting a large transaction on the Internet is more than 10 times lower than that of Tecoin. Although the transfer of each ETH payment to miners and users may be more expensive, for ordinary Ethereum users, this number is still high, because it is used as a way to store data

Each block on the Ethereum blockchain needs to spend gas as a service charge, which will cause the gas price to soar to a new historical high

At present, there are about 200 verifier nodes on the Ethereum blockchain. These participants process transactions by sending a specific token to the blockchain. In order to reduce the gas consumption generated by such activities, users using the Ethereum blockchain must pay for their own Ethereum address. If there is no such setting, the fees for these users will increase. Therefore, in the current situation, it is reasonable to charge higher fees for these fees. Due to the fact that these transactions are usually executed during uncertain periods, there will be no high costs incurred when we place these transactions offline. As the data of CoinMarketCap shows, the price of “Ethereum” is as “huge” as that of the transaction itself, but it does not always happen in fact: “If you want to extract $100 from another wallet, you can see the value with a click.” Every transaction on the Ethereum blockchain requires payment

However, the average daily gas cost of Ethereum has reached a record high – since 2017, the network has handled more than $1 trillion.

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