[Talk with Vitalik] Does ETH need transaction fee?

[Suyeah]

I always think it's unreasonable to have high transaction fee per transactions, and is researching about EOS's model: Account Registration fee + 0 transaction fee. I recently met Vitalik in a conference at HK, and tried to ask him about his POV.


Me: When we want to make large number of transactions, it is almost free of charge. For example, if I make transaction with 1000 RMB on Alipay, nothing will be charged. But on Ethereum network, we need to pay gas for each transaction and contract execution

Vitalik Buterin: Yes, you are right. And this is why we think scalability is quite important. No matter we take shading or off-chain technology to improve the scalability, it will reduce the gas to some point when the transaction fee is low enough.

Me: However, there will be some cost?

Vitalik Buterin：If the transaction fee is as low as 0.00043 USD, does anybody care?

Me：Regarding to this question, EOS takes the mode of “deposit membership fee”, how do you think about it?

Vitalik Buterin： I have to criticize EOS about this! It will actually cause large number of nasty problems if you only need to deposit money at the very beginning, but don’t pay for any transaction later.

Me：What kind of problem? Can you make an example?

Vitalik Buterin：First of all, you actually pay even with the mode of “deposit membership fee”. Before i saw the statistics, if you compare Ethereum with EOS, the result is that you need to pay 15,000 USD on Ethereum, but 100,000 USD membership fee on EOS, which is much higher.

Secondly, users don’t know how many transactions they will make in the future. For example, it is impossible to know you will make 3 or 30 transactions per month. On Ethereum network, users pay gas when they make transaction, which is under their control. But for EOS, people need to pay “membership fee”, and also can’t pay with the frequency as they like.Don’t you think this is kind of taxation?

Thirdly, because blockchain resources are limited, if we choose to bid for that, undoubtedly it will be the best distribution method.




Frankly I like EOS's model more, what is your point of views towards ETH transaction fee?

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[Suyeah]

Have anyone encountered problem when paying gas fee?

[OluwaTosin10]

I’m not sure why anyone would lay or make a complaint as regard transactions fees on etherum
It is very cheap
It is very fast
It is very easy to set up gwei too

Why ask such questions ?
Just focus your energy on other vibes of crypto currency

[jacafbiz]

I’m not sure why anyone would lay or make a complaint as regard transactions fees on etherum
It is very cheap
It is very fast
It is very easy to set up gwei too

Why ask such questions ?
Just focus your energy on other vibes of crypto currency

Are you joking, it is not cheap to run transaction on Ethereum, most people do not get this, when you are running dapps constantly on the chain and you look at the accumulated transaction fee then you will understand what I am say, and for the speed, it is faster than Bitcoin but the still very slow and there is a reason Ethereum developers are looking for scaling solution

[kingzpro]

I think i agree with vitalik on this matter i think tiny fee does not harm as a means of service charges because it is also a working company with a lot of developers and other staff working round the clock in the backdrop for it so continuous generation of funds is important and also to pay miners fee is required. I think we need to be patient for few months and let eth network implement the upgrades im sure it will get rid of scalability issues and transactions will be much faster and cheaper.

[bolshojkush]

I’m not sure why anyone would lay or make a complaint as regard transactions fees on etherum
It is very cheap
It is very fast
It is very easy to set up gwei too

Why ask such questions ?
Just focus your energy on other vibes of crypto currency

Are you joking, it is not cheap to run transaction on Ethereum, most people do not get this, when you are running dapps constantly on the chain and you look at the accumulated transaction fee then you will understand what I am say, and for the speed, it is faster than Bitcoin but the still very slow and there is a reason Ethereum developers are looking for scaling solution

The problem is that other cryptocurrencies have long coped with the scaling and speed of transactions, and Ethereum is trying to jump into the departing train. And I think he needs to hurry with that.

[Suyeah]

I’m not sure why anyone would lay or make a complaint as regard transactions fees on etherum
It is very cheap
It is very fast
It is very easy to set up gwei too

Why ask such questions ?
Just focus your energy on other vibes of crypto currency

Are you joking, it is not cheap to run transaction on Ethereum, most people do not get this, when you are running dapps constantly on the chain and you look at the accumulated transaction fee then you will understand what I am say, and for the speed, it is faster than Bitcoin but the still very slow and there is a reason Ethereum developers are looking for scaling solution

I totally agree with you, because I am playing many Dapps now, and now EOS has much more active users than ETH.