Binance founder Changpeng ‘CZ’ Zhao has proposed reducing gas fees on the Binance Smart Chain (BSC) by a factor of three to ten times its current rate. In a recent X post, he suggested lowering gas prices on the network, prompting discussions about potential cost reductions within the BSC ecosystem. According to data from Y Charts, BSC Chain’s average gas price has decreased by 3.91% since yesterday, currently sitting at 2.163 Gwei. This drop marks a significant 41.40% reduction compared to last year’s average of 3.691 Gwei. Notably, Gwei represents the unit of BNB used to measure gas fees on BSC, similar to how Ethereum’s ETH works on its network. Zhao’s proposal has been met with mixed reactions from traders, with some urging a complete elimination of fees while others argue that the current low gas fee rate is sufficient for their operations. Analyzing blockchain data platforms like Dune Analytics reveals the competitive landscape of BSC chain’s average and median gas fees. Compared to Ethereum (ETH), Solana (SOL) and Polygon (POL), BSC Chain boasts relatively low gas prices.