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Title: What will happen with eth 2.0. releasing? Lower fee? Post by: Donald@_ on November 26, 2021, 07:47:18 AM Hi, do you expect big changes after eth 2.0. come, when will that happen?
Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: Natalim on November 26, 2021, 11:56:39 AM This article is for you.
https://cryptomode.com/will-ethereum-2-0-lower-gas-fees/ Quote Will Ethereum 2.0 reduce gas fees? Ethereum has great plans to increase the number of transactions it can handle per second to about 150,000 by the end of the year. Serenity aims to help fulfill this ambition and also make the network more secure. The proof of stake model used by ETH2 reduces the energy/power-intensive problem of the PoW used by ETH. Sharding on the other hand will increase the number of transactions the network can handle as validation will be assigned to different validators overseeing different shards. As explained earlier, congestion of the network is one of the main reasons for the high gas fees of ethereum. The upgrade is about to bring an increase in the transaction per second which will definitely reduce congestion of the network leading to a reduction in the transaction fees. In conclusion, the high gas fee of ethereum is a big barrier for Defi, with more people choosing to buy bitcoin in India because of the favourable BTC to INR rate. Although ETH handles more transactions than bitcoin per second, you cannot neglect the fact that the high transaction fees are a hindrance to the growth of Ethereum and Decentralized finance. If developers are successful with this upgrade, it will only mean great things for not only ethereum but also Defi as a whole. So the answer is, it will reduce the fee as it will prevent network congestion. Hope it's all clear now. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: DapanasFruit on November 27, 2021, 02:14:47 AM I have been expecting that eventually Ethereum developers and handlers can be able to finally solve the Ethereum Gas Crisis with some success this time around...though admittedly so as to never be disappointed I am just choosing to tone down that expectation a little bit...so maybe I prefer to be surprised in case that can happen fully or be operational in the early months of 2022. I have many ERC-20 tokens that I could not move because the gas fees are usually higher than the amount I can get from exchanges...this is an affront to DeFi and cryptocurrency development. And I am wondering: Will Eth be jumping into $10K if the gas fees can be reduced dramatically? Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: bittraffic on November 27, 2021, 02:27:18 AM With the rising of gas fees, only the rich holders can afford to make transactions on the platforms even withdrawing on exchanges costs more that it's making retail investors shift to an altcoin instead. This phenomenon looks like an old system that makes the rich get richer and so on. Vitalik's team couldn't just do work overtime to fix it? If the upgrade lowers the fees, we may finally be able to withdraw ETH and hold. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: adiebitsler on November 27, 2021, 03:02:30 AM Hi, do you expect big changes after eth 2.0. come, when will that happen? There's no sign of a change yet and if there really is a change to ETH 2.0, then what most people will be hoping for is more stable and slightly cheaper transaction fees than they are now, that's all.Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: mamesso on November 27, 2021, 05:31:19 AM There's no sign of a change yet and if there really is a change to ETH 2.0, then what most people will be hoping for is more stable and slightly cheaper transaction fees than they are now, that's all. The purpose of Ethereum evolving into Ethereum 2.0 is to solve the problems that have been happening in Ethereum, such as scaling and expensive gas fee. Reportedly Ethereum 2.0 will have a much larger capacity to accommodate the number of transactions. I think the core Ethereum development team should immediately resolve the issues that are occurring within the Ethereum body. because some crypto users have run to BSC which gas fee is cheaper than Ethereum. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: RussianEnglishTranslation on November 27, 2021, 05:55:10 AM Hi, do you expect big changes after eth 2.0. come, when will that happen? ETH 2.0 will help reduce gas fees in Q1 or Q2 next year but even then, Ethereum will still require sidechains like Aurora and L2s like zkSync. I'm pretty much done with Ethereum now though. I do most of my farming on NEAR protocol's Ref Finance and on Aurora's Trisolaris. Aurora has ZERO gas fees! LOLTitle: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: jrrsparkles on November 27, 2021, 07:58:09 AM Hi, do you expect big changes after eth 2.0. come, when will that happen? There's no sign of a change yet and if there really is a change to ETH 2.0, then what most people will be hoping for is more stable and slightly cheaper transaction fees than they are now, that's all.BSC made a breakthrough so every project prefer Binance smart chsin since its impossible now for most people to use tokens and decentralized exchange on the ethereum network. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: WannaCry on December 03, 2021, 09:39:19 PM I have been seeing this news of Ethereum 2.0. I have been waiting for this and I know everyone is waiting also. We know that the current gas fee is extremely high and the network congestion. Hoping that they will release it early.
Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: Bollexz1 on December 03, 2021, 09:48:41 PM If I don't know nothing much, I know eth 2.0 of helping lowering the gas fee hike. Though there will be lot of greater features but all that remain unknown until it gets fully introduced.
Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: mirakal on December 03, 2021, 09:56:43 PM I think everything is already answered in the article shared by @Natalim.
Maybe take some time to read so you would see all the information needed for better understanding. let's talk about the possible release date. https://www.gfinityesports.com/cryptocurrency/ethereum-2-release-date-eth2-roadmap-phases-is-ethereum-2-new-coin-serenity/ Quote Ethereum 2.0 Release Date Initially slated for a 2019 release, Ethereum 2.0's first phase launched on 1 December 2020. However, with two phases still to go, the full release is not estimated to happen until 2022. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: Anguwa on December 03, 2021, 11:06:32 PM Hi, do you expect big changes after eth 2.0. come, when will that happen? Many crypto users are waiting for ETH 2.0, because we are hoping there will be a solution to the Ethereum high transaction fee, because there are very good and interesting project tokens in the Ethereum blockchain that people stop following due to high gas fee, instead they go for BEP-20 token in Binance SmartChain. We hope it will really solve the transaction fee. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: CaVO32 on December 03, 2021, 11:16:41 PM Hi, do you expect big changes after eth 2.0. come, when will that happen? Many crypto users are waiting for ETH 2.0, because we are hoping there will be a solution to the Ethereum high transaction fee, because there are very good and interesting project tokens in the Ethereum blockchain that people stop following due to high gas fee, instead they go for BEP-20 token in Binance SmartChain. We hope it will really solve the transaction fee. A lot has been waiting in vain for long time already. This is why these new chains like BSC, SOL, DOT, emerge. Because they are trying to address the transaction fee prob in ETH. When I tried today to move my ETH from my MEW, the min that I need to spend is about $10 of ETH for gas fees. Since I only have small amount, I decided to let it sit in my MEW and just wait for the time that the gas fee will go down. Though one can already track the gas fee via this link - https://etherscan.io/gastracker. So right now, the fees are still high for small traders. But hopefully, we will see improvement by next year. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: JeffBrad12 on December 04, 2021, 01:13:56 AM Hoping that they will release it early. it will never happen. I never experienced that ethereum developers were releasing the update early before the deadline. I have been seeing that even some ethereum developers can't expect the upgrade will come on time as per the roadmap. Anything can happen as ethereum protocol is used by thousands of people and this needs to be audited so many times and the upgrade must have been tested to make sure the update will not contain the vulnerability to the protocol that can be exploited by any black hackers. There's no ETA about when that will be released as ethereum 2.0 was only about 1 or 2 updates but it was changing the protocol and that means there will be lots of things that must be changed to suit with the plan that already planned to upgrade the scalability of ethereum blockchain. In another side, the miners were also preventing ethereum developers from upgrading its protocol through creating new EIP with their own solution.That makes the story of ethereum 2.0 will be so complicated. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: wheelz1200 on December 04, 2021, 01:39:36 AM Hi, do you expect big changes after eth 2.0. come, when will that happen? The thought process is that it will alleviate fees while alleviating network throughput. I'm still waiting to see it happen. In crypto I'm not even a trust but verify person. I'm more I will believe it when I see it, and by see it for awhile without any hiccups. I know token owners will be waiting for that day :P Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: Google+ on December 04, 2021, 02:55:41 AM Hi, do you expect big changes after eth 2.0. come, when will that happen? Many crypto users are waiting for ETH 2.0, because we are hoping there will be a solution to the Ethereum high transaction fee, because there are very good and interesting project tokens in the Ethereum blockchain that people stop following due to high gas fee, instead they go for BEP-20 token in Binance SmartChain. We hope it will really solve the transaction fee. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: Dave1 on December 04, 2021, 02:57:43 AM It's hard to answer it because the supposedly eth 2.0 is being released in phases.
So not sure what phases we are in right now, but the last one? it was supposedly lower the fee right? but guess what, it didn't on the contrary the price continue to soar because of the increasing price of eth. For me, I doubt that the next phase release will solve the problem of high fees instantly. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: tyz on December 04, 2021, 01:27:01 PM Lower fees are one of the goals switching to Eth 2.0. I mean it is not substainable in the long run to run a network with $5-10 average fee. Also it is to expected that more Ether will be then burned what means Ethereum become more deflationary. Ethereum has to take this step because the competition is getting bigger, see Solana or IOTA for example.
Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: ogundowotoby01 on December 06, 2021, 10:49:57 AM We have been waiting for this for a while and hopefully these helps reduce sending fees but my major concern is would newer projects still want to use the ethereum network or rather still with bsc or polygon
Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: tvplus006 on December 06, 2021, 01:26:05 PM So the answer is, it will reduce the fee as it will prevent network congestion. Hope it's all clear now. The cost of transactions depends not only on the network load, but also on the value of the coin in which the gas payment is made. And I can assume that when Ethereum-2.0 is fully launched, the value of ETH will also increase. But in any case, the cost of transactions should be reduced by several dozen times. Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: haasanjui on December 06, 2021, 01:40:20 PM Etherium 2.0 also know as serenity or Eth2. It is separate blockchain from etherium mainnet. The aim to release eth2 is to increase speed and scalability of etherium network. It promise to take lower fees.
Title: Re: What will happen with eth 2.0. releasing? Lower fee? Post by: Sebas.tian on December 06, 2021, 02:12:48 PM Quote Hi, do you expect big changes after eth 2.0. come, when will that happen? It will happen very soon, since many ethereum investors still have that feeling that ethereum gas fee will soon drop to the lowest in the cryptocurrency exchange market for them to invest more and earn more money from their investment. The gas fee of ethereum will be lowest than bitcoin fee before the end of this year. If ethereum fee is now lower than bitcoin in this season, I will swatch all my money to ethereum investment which I know it will happen soon.If ethereum fee drop now many bitcoin investors will start investing on ethereum to achieve something good in the future. |