Express

New Gas Token Now Available On Ethereum, Reducing Total Fees

Emily Mason

Summary: Ethereum users can now pay for gas with a special token which will reduce their total fees, according to a blog post.  The new Chi token was introduced by the team responsible for 1inch.exchange on June 5. Chi tokens are created when gas fees on Ethereum are low allowing users to utilize the price later. ...

Ethereum users can now pay for gas with a special token which will reduce their total fees, according to a blog post

The new Chi token was introduced by the team responsible for 1inch.exchange on June 5. Chi tokens are created when gas fees on Ethereum are low allowing users to utilize the price later. The token could level out gas prices across high and low activity periods.

The team behind the Chi token says it can reduce the cost of a transaction by 50% and is especially useful for operations requiring lots of gas, like deploying smart contracts.

By Emily Mason

Last Update:

Tags: ,
Link: New Gas Token Now Available On Ethereum, Reducing Total Fees   [Copy]
  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 1 day ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 2 days ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 5 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 6 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 8 days ago
  • You need to login to comment.