ETH 2.0 And High Transaction Fees..

[Pamadar]

For high ETH transaction fees in my opinion it all depends on the user, because users want the transaction to be confirmed fast so many users use high fuel costs and for miners prefer to take high gas costs than cheap ones to do.

And it should be fixed by the team, they should provide good  ways for every one to use the chain without paying extra to be able to
process much quicker.

So that the increasingly rampant transactions of those who use low fuel costs inevitably have to impose very high fees if they want to be confirmed quickly. So all of this has nothing to do with ETH 2.0 and is not going to die.

Looking forward that this process may able to take good care after the ETH 2.0 are being presented.

[1714758958]

1714758958

[1714758958]

1714758958

[1714758958]

1714758958

[1714758958]

1714758958

[1714758958]

1714758958

[1714758958]

1714758958

[todiefor17]

As long as the transaction costs are not fixed, there is still a dispute over the transaction via auction to be sent out faster.
ETH 2.0 cannot fundamentally change the nature of ETH in transaction processing. They just make transactions faster. The ICO, DEFI projects will continue to take place and costs will continue to increase.

[lifeOK]

As long as the transaction costs are not fixed, there is still a dispute over the transaction via auction to be sent out faster.
ETH 2.0 cannot fundamentally change the nature of ETH in transaction processing. They just make transactions faster. The ICO, DEFI projects will continue to take place and costs will continue to increase.

There some points transactions fee must be fixed. We're eagerly waiting Ethereum 2.0 launch however here we believe some major changes. Eth most valuable assets, without it there is no DeFi, no smart contracts.

[jostorres]

ETH is not a place that can stop developing after a certain level, if transactions keep going up and up eventually they can create newer and newer stuff to lower it, we do not have to just have one version forever. Obviously they are a bit too late to do anything about this current high fee situation but that is only because they were already working on something new, with the 2.0 out of the way eventually and eth becoming proof of stake, they will have a lot of free time to work on lowering the fee situation.

Basically this means at least few more months or even half a year of high fee's unless they stop dealing with 2.0 progress and start working towards making fee's easier, which I doubt they will do which means we have another half a year of high fees if the hype doesn't slow down.

[Miaallen]

Bitcoin transaction fee is also high. And the emergence of bitcoin cash doesn't even have any effect on the bitcoin. I doubt the case will be different when ethereum 2 finally arrives.

[Igor17Krik]

I think that everything will be fine and ETH will successfully switch to proof of work. It cannot be otherwise. Billions of dollars are now in the accounts of big players. I see that everyone is just investing, not withdrawing funds. I think everything is just beginning!

[leatutz]

I think that everything will be fine and ETH will successfully switch to proof of work. It cannot be otherwise. Billions of dollars are now in the accounts of big players. I see that everyone is just investing, not withdrawing funds. I think everything is just beginning!

I don't understand what you are saying because Ethereum is already running POW and will switch to POS. I think op didn't check the Ethereum 2.0 transaction per second. By their announcement, Ethereum 2.0 will have a 10k TPS. This high speed transaction cost must be lower than Credits transaction cost which is now 0.0014 USD.

[FontSeli]

I think that everything will be fine and ETH will successfully switch to proof of work. It cannot be otherwise. Billions of dollars are now in the accounts of big players. I see that everyone is just investing, not withdrawing funds. I think everything is just beginning!

When you do not understand the topic of discussion, it is better not to write anything. We are all waiting for Ethereum to switch to a new type of mining called Proof of Stake. Mining will be carried out by those who store a certain amount of ether on their wallets.
The cost of gas may not change due to a change in the algorithm. Additional changes must be made that will affect the scalability of the network.

[YOSHIE]

My question now is , what happens if ETH 2.0 fails to put an end to the high fees ?? would this mean the Death or partial death of ether?

as we know everyone makes a lot of transactions using the Ethereum line, I myself am also annoyed that the withdrawal fees spent when transactions are very high, far from the usual gas.

This is burdensome for all parties who use transactions with Ethereum, but for now, inevitably have to do it.
For me Ethereum does not have to die, but they have to fix all the gas that is emitted every transaction as usual/normal.

They should think about it as soon as possible, considering the Ethereum transactions per day are very high, hopefully it will be normal as usual.

[piebeyb]

it looks like it has been in design for a long time so the chances of it failing will be very little, because we know they keep delaying the launch of ETH 2.0, it has proven that they really are not rushing to work on this problem and ETH 2.0 can solve the problem of high gas costs in the future, as long as a large community with ETH is unlikely to die

[slaman29]

As long as the transaction costs are not fixed, there is still a dispute over the transaction via auction to be sent out faster.
ETH 2.0 cannot fundamentally change the nature of ETH in transaction processing. They just make transactions faster. The ICO, DEFI projects will continue to take place and costs will continue to increase.

I don't agree here. Fixed costs will kill the competition for miners, make it another POS coin. Allow people to compete for fees, that's the way Bitcoin shows can keep miners in the game and incentivizes them to keep making the network more popular. Defi and ICO will become use cases but the hype we see now isn't lasting. Just wait.

[trauchot]

Ethereum developers see what problems Ethereum users are now experiencing who make transactions and I am sure that Ethereum developers will find some solution, but in general if high transactions will remain the same, then I think people will also continue to make transactions on Ethereum blockchain, but most likely many people simply will try to bypass the Ethereum blockchain and will go, for example, to the TRON blockchain.

[budi691]

I think ethereum 2.0 to solve the problem of high gas costs and others, maybe failing in my opinion will not happen, and ethereum will continue to live and solve all its problems.

[TastyChillySauce00]

Bitcoin transaction fee is also high. And the emergence of bitcoin cash doesn't even have any effect on the bitcoin. I doubt the case will be different when ethereum 2 finally arrives.

except bitcoin cash is an entirely different thing to bitcoin and it's not even in the same blockchain so it does make sense if it doesn't have effect on bitcoin but ethereum 2.0 is basically an upgrade to ethereum and will probably give significant effect to ethereum because they switched to POS and probably come up with solution against the increasing fee.

[Bitstar_coin]

Hii Everyone

I have a little question .... Sorry if this sound silly but i just cant help but ask

Everyone has been talking about the much anticipated ETH 2.0 and how it will put an end to the high transaction fees which is currently one of the major problems on Ethereum blockchain.

My question now is , what happens if ETH 2.0 fails to put an end to the high fees ?? would this mean the Death or partial death of ether?

(death--no longer used)
(partial death--no longer used like before)

i really don't know what eth 2.0 will bring when it finally comes but i do know that new projects should start looking at other blockchain to Launce their project instead of hanging on erc20 network that has suddenly turn a nightmare for many, there are other fast and cheap transaction network that will also get the job done without any complications, i think eth network is just over hyped, every project wants to be in eth network and now we face the consequences.

[lixer]

If they could squeeze in a lot more transactions inside one block that would solve all the problems but in order to do that you need to first develop that feature and make it ready plus you need to make sure everyone goes into that blockchain as well, it is not as easy as it sounds, I would do the same if I had the choice but I wouldn't know where to begin.

If they can do that it would allow people to have a lot more transactions in one block to be mined which would make transactions pass a lot quicker and when we are talking about mining one block the difficulty will be same while pay will be the same but this time around people who send money will be paying less because they are sharing it with more people at the same time lowering the cost of it without hurting miners.

[Radio-Active]

Indeed, im afraid many crypto projects and ethereum users will using other blockchain because the fee is too high.
I hope in ETH 2.0, the developers think about how they can reduce the network fees, otherwise new users won't join because very high fee.

[StyleForceOne]

Indeed, im afraid many crypto projects and ethereum users will using other blockchain because the fee is too high.
I hope in ETH 2.0, the developers think about how they can reduce the network fees, otherwise new users won't join because very high fee.

I really doubt that.
After UNI hype was settled down - fees turned back to ~$1.00 level as it was way back before, I mean the transaction fees.
Exchange fees are still quite big, but its forgivable imo

[maryanti]

The launch of eth 2.0 will be postponed.

Since the multi-client testnet served as an important pathway to Serenity, this was considered an emergency.

Therefore, it cannot be determined that the Ethereum 2.0 rollout will take place in July 2020.

Ethereum will still be around and if eth 2.0 fails then network costs will still be high.

[Spaffin]

Indeed, im afraid many crypto projects and ethereum users will using other blockchain because the fee is too high.
I hope in ETH 2.0, the developers think about how they can reduce the network fees, otherwise new users won't join because very high fee.

I really doubt that.
After UNI hype was settled down - fees turned back to ~$1.00 level as it was way back before, I mean the transaction fees.
Exchange fees are still quite big, but its forgivable imo

Vitalik Buterin and other members of the ETH team expressed their opinion on Twitter that we can most likely expect an Ethereum 2.0 update starting from November until the end of 2020. In addition, I believe that you need to fully complete the work, so that you do not have to work on errors after launch, so "postponing" does not mean bad. In addition, if we talk about the price of transactions, then recently I have seen a significant decrease in the cost of commissions, this is especially noticeable when the price dropped from $ 10 to $ 0.40 - $ 0.70.