[Talk with Vitalik] Does ETH need transaction fee?

[lifesgood10]

I think the transaction fee on the ethereum blockchain is fair and very cheap so yes ethereum does not need to review the transaction fee
Withdrawal fee, trading fee on exchanges are way more expensive than the gas fee on ethereum blockchain

So let Vitalik focus on the integration of ethereum 2.0
Nothing is wrong with etherum transaction fee

[jrrsparkles]

ETH gas is important of the transactions needs to be confirmed which is same like the bitcoin blockchain,if you like EOS model which has no fee means then you can use that for your purpose but what I believe is ethereum will be the next better coin in the future as well so having them will ensure good future,just decide by yourself what you want to do.

[Hanebel]

I think the transaction fee on the ethereum blockchain is fair and very cheap so yes ethereum does not need to review the transaction fee
Withdrawal fee, trading fee on exchanges are way more expensive than the gas fee on ethereum blockchain

So let Vitalik focus on the integration of ethereum 2.0
Nothing is wrong with etherum transaction fee

Maybe what needs to be improved or changed is the withdrawal fee you are talking. Most exchange say they don't earn from withdrawal fees because it will cover the transaction fee in Eth network but most of them have fixed fees around 0.01 Eth when in fact, it can be done with just 0.04$ (in Eth).

[none of us]

i did not know this difference between eos and eth fees, but the fee system of ethereum i like better. it seems to me to be fairer to the little user with not much money.

[Debonaire217]

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?

Well I guess it is okay for me to pay gas, which is quite low rate in compared to bitcoin transaction fees. Well, I guess these transaction fees are needed in order to pay miners in some way?