Binance founder Changpeng Zhao (CZ) is stirring up the Layer-1 battlefield and this could really tip the balance.
CZ has proposed slashing BNB Chain gas fees by up to 10x, and that’s no small tweak. It’s a direct challenge to Ethereum’s costly transactions and Solana’s ultra-cheap speed.
With Binance Smart Chain (BSC) already handling billions of transactions daily, this potential fee cut could supercharge its position in the DeFi race – threatening to outpace blockchain heavyweights Vitalik Buterin’s Ethereum and Anatoly Yakovenko’s Solana.
High gas fees have long haunted the crypto space, especially on Ethereum, where the average cost hovers around $0.42. Solana has gained traction with lightning-fast speeds and near-zero costs, but Binance isn’t sitting still.
Now, CZ is looking to undercut both by pushing BNB Chain’s already-low gas fees even further down. The network currently boasts a median gas price of just 1 Gwei (around $0.01 per transaction). In the last 24 hours alone, BNB Chain processed over 7.2 billion transactions at an average fee of $0.0945 – already a bargain by blockchain standards.
“Affordability is key to blockchain’s future,” CZ shared on X. “We’re lowering BNB fees to empower developers and users, outpacing Ethereum and Solana.”
Let’s just be clear. This is a calculated strategy to reposition BNB Chain as the sweet spot between Ethereum’s network strength and Solana’s affordability.
Lower fees could drive a new wave of developers to the BNB ecosystem, lured by high throughput, cost efficiency, and growing momentum. From DeFi and NFTs to blockchain gaming, the use cases are massive and Binance is setting the stage to become the go-to platform for them all.
However, going too far could backfire. Zero or near-zero fees might invite spam and overload the infrastructure, putting pressure on validators.
The challenge? Slashing fees without compromising network security or developer incentives.
What strategic timing! As Ethereum continues to battle scalability issues and Solana works to maintain its reliability, Binance is seizing the moment to strike with what could be the most cost-effective Layer-1 option on the market.
This fee slash proposal – though not officially confirmed yet – signals Binance’s renewed ambition to lead the L1 race. If implemented smartly, it could tilt user and developer sentiment in BNB Chain’s favor in a big way.
What way will it finally go? We, at Coinpedia, will keep you updated.
BNB Chain’s median gas fee is around $0.01 per transaction, already lower than Ethereum and comparable to Solana.
Binance aims to attract more developers and users by offering faster, cheaper Layer-1 transactions without sacrificing performance.
BNB Chain offers high throughput like Solana and aims to cut fees further, while Ethereum still struggles with higher costs.
After a rough start to August in the crypto markets, many investors are now looking…
In a surprising twist to 2025’s meme coin narrative, major Solana (SOL) whales are exiting…
The crypto market has always been the go-to for flipping a few hundred dollars into…
The meme coin market is heating up again , and as the altseason narrative catching…
A revolutionary shift could be coming to the U.S. financial system that will transform Wall…
Investing $1,000 in XRP may deliver consistent gains through the years; however, putting the same…
