- Binance founder CZ is proposing a major gas fee reduction on BNB Chain—up to 10x lower—to challenge Ethereum and Solana.
- The move could boost BNB’s competitiveness, but risks like spam and validator strain remain.
In a bold move that could reshape the Layer 1 (L1) blockchain landscape, Binance founder Changpeng Zhao (CZ) has proposed slashing BNB Chain gas fees by up to 10 times. The initiative aims to position BNB Chain as the sweet spot between Ethereum’s robust ecosystem and Solana’s lightning-fast, low-cost transactions.
Currently, BNB Chain already boasts some of the lowest transaction fees in the market, with a median gas price of just 1 Gwei—roughly $0.01 per transaction. Over the past 24 hours alone, the network handled more than 7.2 billion transactions, averaging a fee of $0.0945. Yet CZ believes there’s room for even more aggressive cost-cutting, potentially bringing fees down by 3x to 10x.
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The proposal comes amid growing competition. Ethereum, despite its ongoing upgrades, still averages around $0.42 per transaction. Solana, on the other hand, leads on affordability with fees as low as $0.0035. Lowering BNB’s fees significantly could make the chain even more attractive to developers and users seeking cost-effective scalability.
However, CZ’s vision isn’t without risks. Completely removing or excessively cutting fees could open the door to network spam and overload validators—issues that have plagued other blockchains in the past. The challenge lies in balancing affordability with security and performance.
Still, the timing of this move is strategic. As BNB Chain’s usage surges and Ethereum continues to grapple with scaling, a leaner fee model could entice projects and users away from rival networks. If successful, it would give BNB Chain a formidable edge in the L1 wars, potentially making it the go-to option for both high-volume transactions and decentralized app (dApp) development.
While CZ hasn’t made an official announcement, the discussion has already sparked debate across the crypto community. If implemented, the BNB Chain fee cut could be one of the most disruptive plays in the ongoing battle for blockchain dominance.
