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]
Next:

Related Articles

  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? 9 days ago
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? 16 days ago
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules 20 days ago
  • BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 23 days ago
  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 27 days ago

    • You need to login to comment.