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Author Topic: Ethereum transaction fees (please enlighten me)  (Read 76 times)
Aoirayn (OP)
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January 09, 2018, 09:19:24 AM
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Does anyone know if Ethereum have any upcoming, uhm, improvements to lower transaction fees?

With all these ERC20 tokens getting added all the time, won't all of them be useless if transaction fees continue to rise?
For instance, take AppCoins. You are supposed to be able to fill your phone with these coins, then buy in-app purchases with them.

But let's say you want to buy a $2.99 gem-pack or whatever, but instead you will use 1 APPC,won't that be useless then? Since transaction fees are can sometimes be as high as this..
Please enlighten me, thanks in advance.
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Aoirayn (OP)
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January 10, 2018, 03:52:06 PM
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anyone?
MoonIsBlue
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January 10, 2018, 03:57:22 PM
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Does anyone know if Ethereum have any upcoming, uhm, improvements to lower transaction fees?

With all these ERC20 tokens getting added all the time, won't all of them be useless if transaction fees continue to rise?
For instance, take AppCoins. You are supposed to be able to fill your phone with these coins, then buy in-app purchases with them.

But let's say you want to buy a $2.99 gem-pack or whatever, but instead you will use 1 APPC,won't that be useless then? Since transaction fees are can sometimes be as high as this..
Please enlighten me, thanks in advance.

Yeah I think they will have an update called plasma which should providing scaling and thus bring down transaction feeds and improve tx/s

Vylentinka
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January 12, 2018, 05:26:14 AM
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when the transaction fee is being deducted?
Mohamme
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January 12, 2018, 05:47:14 AM
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Yes, as the price of ETH rises, so does the cost of the corresponding tokens, so new technologies are needed to improve the problem.

feelthebern98
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January 12, 2018, 05:50:01 AM
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Improvements in the blockchain to confirm transactions translate into more efficient transactions, the vast majority of developers effort goes into finding better algorithms to solve this scalability issues, ethereum though is way ahead in this department than bitcoin
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January 12, 2018, 06:08:09 AM
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Does anyone know if Ethereum have any upcoming, uhm, improvements to lower transaction fees?

With all these ERC20 tokens getting added all the time, won't all of them be useless if transaction fees continue to rise?
For instance, take AppCoins. You are supposed to be able to fill your phone with these coins, then buy in-app purchases with them.

But let's say you want to buy a $2.99 gem-pack or whatever, but instead you will use 1 APPC,won't that be useless then? Since transaction fees are can sometimes be as high as this..
Please enlighten me, thanks in advance.

You could check for current fees https://ethgasstation.info

I don't know ETH to plan such implementation, but PSO hard fork could bing us lower fees.

Both ETH and BTC have plans to introduce transactions with very low fees - the Lightning networks

Maren
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January 12, 2018, 06:13:01 AM
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Does anyone know if Ethereum have any upcoming, uhm, improvements to lower transaction fees?

With all these ERC20 tokens getting added all the time, won't all of them be useless if transaction fees continue to rise?
For instance, take AppCoins. You are supposed to be able to fill your phone with these coins, then buy in-app purchases with them.

But let's say you want to buy a $2.99 gem-pack or whatever, but instead you will use 1 APPC,won't that be useless then? Since transaction fees are can sometimes be as high as this..
Please enlighten me, thanks in advance.

You could check for current fees https://ethgasstation.info

I don't know ETH to plan such implementation, but PSO hard fork could bing us lower fees.

Both ETH and BTC have plans to introduce transactions with very low fees - the Lightning networks

ETH raiden network is online already, but not much used. BTC lightning network sidechain is mostly in the science fiction section at the moment.

There is no fix atm for BTC and ETH high fees, most people claim it's the way it's supposed to be. One mans loss is another mans gain. I don't think the fees are going to get lower on big POW networks, miners lose too much money and they have too much influence. The answer is in DAG and POS new blockchains. Very future answer.

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