The world of cryptocurrencies has experienced a rapid increase in transaction fees, particularly on the Ethereum and Bitcoin networks. This has become a significant concern for users who are faced with high costs for simple transactions that some users already paid the transaction fee BUT still failed to do the transaction(what a mess). The recent memecoin(PEPE) frenzy on Ethereum and the ongoing congestion on both networks are evident in skyrocketing gas fees.

In contrast, Hive, a decentralized protocol that uses a Delegated Proof of Stake (DPoS) system, offers a scalable and fee-less solution, as evidenced by Blocktivity's stats.

As of April 20, 2023, the average gas price for Ethereum transactions was 81.94 gwei, up from 60.82 gwei on April 19 and 44.42 gwei last year. This represents a significant increase of 34.74% from April 19 and 84.46% from April 20, 2022.

In comparison, a Bitcoin transaction cost about $28, while Ethereum was just shy of $10. These high fees have had substantial consequences for users. In April 2023, Bitcoin transaction fees amounted to $247 million, while Ethereum users paid a staggering $700 million in fees according to the source.

Hive, a decentralized protocol built on a Delegated Proof of Stake (DPoS) system, offers a fee-less solution to the high transaction fee issue plaguing Ethereum and Bitcoin. According to Blocktivity, the transaction volume on Hive is currently the top 3 with the most transaction operations according to their latest feed. However, Hive users paid zero in fees to transact, compared to more than $700 million on Ethereum and $240 million on Bitcoin.

Hive's DPoS system allows for scalability and security, as it distributes the power of block validation among a larger number of validators. This not only makes the network more efficient but also reduces the risk of centralization. Moreover, Hive's fee-less structure allows users to transact without incurring additional costs.

Blocktivity's stats show that Hive can handle a high volume of transactions without compromising on speed, security, or user experience. While Ethereum and Bitcoin struggle with scalability issues due to their high fees and network congestion, Hive maintains its performance even as the number of transactions increases. The DPoS system that Hive employs allows for more efficient block validation and ensures that transaction costs remain at zero.

Upbit, a prominent cryptocurrency exchange, moved 93 million HIVE tokens to another wallet. Notably, this transfer of approximately $40 million worth of HIVE was completed without any transaction fees, highlighting the advantages of the DPoS system on the Hive blockchain.

Let that sink in...

https://hiveblocks.com/tx/d4f78f7dbf9903d06e7ee606a2148c6f146a0e9a

Here are some tweets expressing concerns about high transaction fees that we've come across on Twitter. If only they knew about the advantages of the Hive blockchain!

In a recent example, Upbit moved approximately $40 million worth of HIVE without any transaction fees. I'll be sharing this as a long post on Twitter, hoping to catch someone's attention and show them how their concerns can be addressed by using the Hive, wish me luck.

https://twitter.com/0xMQQ/status/1648459788710461442

- 0xMQQ

https://twitter.com/1kbeetlejuice/status/1648437013597790208

- 1kbeetlejuice

God bless Hive