ETH 2.0 And High Transaction Fees..

[Wingo]

Projects and investors might have to find an alternative to the ethereum blockchain. But this will not happen in a short span of time, it will take years. There are a lot of blockchains out there which offers better speed and lower fees.

Ethereum 2.0 will make the network scalable, and therefore decreasing the transaction fees in the long run. So this should not fail. There will be delays but I'm confident that the protocol will give much more room for growth.

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[louisBSAS]

We'll have to endure. It is very difficult to perform transactions on the Ethereum blockchain now, but nothing can be done, you need to get used to it. We can only hope for the early launch of Ether 2.0 and its new technology.

[Insober]

Projects and investors might have to find an alternative to the ethereum blockchain. But this will not happen in a short span of time, it will take years. There are a lot of blockchains out there which offers better speed and lower fees.

Ethereum 2.0 will make the network scalable, and therefore decreasing the transaction fees in the long run. So this should not fail. There will be delays but I'm confident that the protocol will give much more room for growth.

If Ethereum 2.0 is released and it will be as we imagine it, then of course, with this innovation, the stability of the network will increase, the commission will decrease and there will be even more users.

There are a lot of users, but many of them are simply unhappy, and when this update is released, all users will already be happy with this system.

[Shallow]

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 always believe that the essence of upgrades done on any platform is for the sole purpose of enhancing the platform for better services. At the early stage of every platform, there are always smaller number of people which then grows, and if the platform aims to remain standing and working well, then it will undergo an upgrade to ensure all users are accommodated and so on. In the case of Ethereum blockchain, I believe the upgrade will take care of many issues of which the high transaction fees is one of them, or in fact the most pertinent one. Also, looking at how long the upgrade has taken, it is clear the team want everything to be perfect and corrected.
But, in a case where the goal wasn't achieved, that is, high transaction fees wasn't reduced, then I think another upgrade will take place. Ethereum blockchain is one of the most trustworthy blockchain platform and it can't die rather will continue undergoing upgrades every now and then to ensure the proper growth of the platform.

[bubbalex]

Projects and investors might have to find an alternative to the ethereum blockchain. But this will not happen in a short span of time, it will take years. There are a lot of blockchains out there which offers better speed and lower fees.

Ethereum 2.0 will make the network scalable, and therefore decreasing the transaction fees in the long run. So this should not fail. There will be delays but I'm confident that the protocol will give much more room for growth.

Yes, I joined crypto with the Ethereum, not Bitcoin, because I liked it more, it was newer, faster, cheaper, but nowadays I shifted to the TRON, because I simply don't want to spend 2-10$ when I need to send 10$ to someone. Although I haven't followed the TRON since it was launched, I switched to it because of lower commissions and higher speed. However, when the ETH 2.0 is released, I'll gladly return to the ETH network.

[bakasabo]

But, in a case where the goal wasn't achieved, that is, high transaction fees wasn't reduced, then I think another upgrade will take place.

Tricky question - do you happened to know when this new upgrade will be, if Ethereum 2.0 will not be able to reduce fees? It was postponed till autumn, and there is still no clear information about release date. The "release date" has been postponed for about half a year. Will Ethereum users survive, or still be so much supportive for it, if they need to wait for another half a year for fee reduction?

I dont follow fees everyday, but I remember that they were about 70-80 gwei for a standard transaction, few weeks ago reduced to ~50, but now returned to 70-80 gwei again. With the upcoming NFT and winter holidays, fees will rise up again.

[louisBSAS]

Projects and investors might have to find an alternative to the ethereum blockchain. But this will not happen in a short span of time, it will take years. There are a lot of blockchains out there which offers better speed and lower fees.

Ethereum 2.0 will make the network scalable, and therefore decreasing the transaction fees in the long run. So this should not fail. There will be delays but I'm confident that the protocol will give much more room for growth.

Yes, I joined crypto with the Ethereum, not Bitcoin, because I liked it more, it was newer, faster, cheaper, but nowadays I shifted to the TRON, because I simply don't want to spend 2-10$ when I need to send 10$ to someone. Although I haven't followed the TRON since it was launched, I switched to it because of lower commissions and higher speed. However, when the ETH 2.0 is released, I'll gladly return to the ETH network.

I have been using TRON for a long time, but I had to say goodbye to this coin due to constant strong price fluctuations. This was primarily due to the behavior of the founder of this coin. I don't like it when people lead like clowns, especially when it negatively affects the people who depend on them. Of course, the commissions of the Ethereum network are very upsetting, but I have high hopes that the new Ethereum network will be launched in November.

[Smitty Werben Man Jensen]

Ethereum transaction fees are now down to 38 - 50 Gwei, I know why they have dropped, this is because their network is not full,
and if the Eth network is full then Gwei will be expensive, I heard rumors that Ethereum 2.0 is not a solution to this,
I'm afraid if they don't think about it, Ethereum will be left behind by investors, how?

[lienfaye]

Ethereum transaction fees are now down to 38 - 50 Gwei, I know why they have dropped, this is because their network is not full,
and if the Eth network is full then Gwei will be expensive, I heard rumors that Ethereum 2.0 is not a solution to this,
I'm afraid if they don't think about it, Ethereum will be left behind by investors, how?

There's no solution yet for eth gas fee and we are not certain if the upgrade can address the issue. And besides there's no specific date on when the upgrade take place since they postponed it few times.

Well im not transacting often so I dont have any problem regarding this fees but its a problem for traders specially the average one.

[Abiky]

In my opinion the switch from POW to POS at ETH has to work and it has to be done pretty soon.
The last defi hype with the extremely high transaction fees on the ETH network showed that an upgrade or a change of technology is needed urgently.
If the ETH foundations fails to deliver a working POS-mainnet version in 2021 i don't think that this would mean the death of ETH but it can definitely mean that it can lose its second place to polka or cosmos or to something else.

Agree. ETH needs to scale fast. Otherwise, its huge transaction fees will scare away people in the mainstream world. ETH's competitors have taken advantage of their high transaction throughput, providing themselves to be an alternative in the smart contracts industry. They may not be as decentralized as Ethereum, but they're extremely convenient for mainstream payments. In a world where people prefer convenience on top of security/reliability, competing blockchains like TRON and EOS might be able to gain greater market share in the future. At least, the ETH dev team has taken the approach of scaling the Blockchain safely by doing it at a slow and steady pace. As it's said in the real world, "slow and steady wins the race". But even ETH 2.0 proponents, say that the upgrade is NOT enough to reduce ETH's high transaction fees. If that turns out to be the case, then the only way people will be able to enjoy low fees is by either using a second-layer solution for ETH (OMG, ZKSync, etc.) or an alternative smart contract platform (TRON, EOS, Polkadot, Tezos, etc).

Nonetheless, high transaction fees are not much of an issue if ETH remains decentralized. You get what you pay for by enjoying a high level of security, decentralization, and reliability unlike any other smart contract platform in the world today. Those who dislike ETH's high fees, have ample options to choose from. Time will tell us if ETH will be able to retain its place on market cap and mainstream adoption or not. Just my thoughts

[casperBGD]

Agree. ETH needs to scale fast. Otherwise, its huge transaction fees will scare away people in the mainstream world.

yeah, it will scare the people away from gaming, but for financial transaction, particularly DeFi, where big amounts of money are involved, $10-15 transaction fee is not that much, if we are talking about security that is much better than on other networks, which are mostly fairly centralized

and there are second layer solutions for gaming platforms, i am playing sorare, and purchasing players without fees at all, so it could work well in this high fee situation as well

[louisBSAS]

Ethereum transaction fees are now down to 38 - 50 Gwei, I know why they have dropped, this is because their network is not full,
and if the Eth network is full then Gwei will be expensive, I heard rumors that Ethereum 2.0 is not a solution to this,
I'm afraid if they don't think about it, Ethereum will be left behind by investors, how?

Now the workload of the Ethereum network is dropping because the DeFi segment is beginning to gradually lose demand from investors. More and more scammers started to appear there, which discourages honest people from investing. When there is no inflow of new investments, the market starts to shrink little by little. Also, the drop in gas prices is currently associated with the weekend, people want to relax and not trade.

[BitTraderCute]

Ethereum transaction fees are now down to 38 - 50 Gwei, I know why they have dropped, this is because their network is not full,
and if the Eth network is full then Gwei will be expensive, I heard rumors that Ethereum 2.0 is not a solution to this,
I'm afraid if they don't think about it, Ethereum will be left behind by investors, how?

Now the workload of the Ethereum network is dropping because the DeFi segment is beginning to gradually lose demand from investors. More and more scammers started to appear there, which discourages honest people from investing. When there is no inflow of new investments, the market starts to shrink little by little. Also, the drop in gas prices is currently associated with the weekend, people want to relax and not trade.

gas fee back to normal again while defi hype slowly decrease. in uniswap defi project now lost trust after several projects exit scammed, and now investors clearly thinking to avoid speculation . trading volume and frequence now decrease after many project scammed, investors really carefully to new project in uniswap and i think there is no correlation with weekend.

[CuriousGeorge]

Ethereum transaction fees are now down to 38 - 50 Gwei, I know why they have dropped, this is because their network is not full,
and if the Eth network is full then Gwei will be expensive, I heard rumors that Ethereum 2.0 is not a solution to this,
I'm afraid if they don't think about it, Ethereum will be left behind by investors, how?

Defi hype over and people have been realize about so many scam projects were starting to sell the gimmick of defi platforms.
have you read the whitepaper of ethereum 2.0 and what's features that have alreayd mentioned in the whitepaper too?

If you have not read it yet and then start to read it as soon as possible. it has some solutions to solve the scalability problems.

[coinsycrip09]

There's no solution yet for eth gas fee and we are not certain if the upgrade can address the issue. And besides there's no specific date on when the upgrade take place since they postponed it few times.

Well im not transacting often so I dont have any problem regarding this fees but its a problem for traders specially the average one.

recently I have begun to doubt that ethereum 2.0 will be able to overcome the expensive gas fees.
moreover, they are always delaying the release of ethereum 2.0, this makes me continue to lose faith in them.

but I will still wait and hope that the release of ethereum 2.0 will be better than before and able to overcome the problem of expensive gas fees.

[louisBSAS]

Ethereum transaction fees are now down to 38 - 50 Gwei, I know why they have dropped, this is because their network is not full,
and if the Eth network is full then Gwei will be expensive, I heard rumors that Ethereum 2.0 is not a solution to this,
I'm afraid if they don't think about it, Ethereum will be left behind by investors, how?

Now the workload of the Ethereum network is dropping because the DeFi segment is beginning to gradually lose demand from investors. More and more scammers started to appear there, which discourages honest people from investing. When there is no inflow of new investments, the market starts to shrink little by little. Also, the drop in gas prices is currently associated with the weekend, people want to relax and not trade.

gas fee back to normal again while defi hype slowly decrease. in uniswap defi project now lost trust after several projects exit scammed, and now investors clearly thinking to avoid speculation . trading volume and frequence now decrease after many project scammed, investors really carefully to new project in uniswap and i think there is no correlation with weekend.

This is where it all went. Uniswap is not to blame for fraudsters placing their coins on it. This exchange was created decentralized and so that everyone can add their own coin that they want. This is what decentralization is, when no one can forbid you to place your coin on the exchange. It is important to carefully watch what you buy and then there will be no problems with scammers.

[Webetcoins]

With the defi hype going down, and prices of almost all these projects going down, eventually there will be nothing of sorts in the world and eth fee's will return to normal. Even right now it is looking much better. All the summer the prices surged and most of it was around 3-4 levels and peaked at around 12 as well, now it is nowhere near that, it is already at 1.5 and this is just the start of the fall as well, we are definitely going to levels of fifty cent or so.

When that happens we are going to actually end up with a lot better results, we are going to have eth 2.0 and it will not really make anyone look anywhere else. Think of world's second biggest crypto currency giving you money just because you have money, people will flock to it like candy and the price will surely skyrocket.

[nykka]

I don`t think that in such situation Ethereum can die, but it will be very big failure that can be cause of replacement Ethereum as 2-d most popular cryptocurrency. There are many projects that can be a potential replacement for ETH. But nonetheless, I think Eth team have been working for years to make everything great and I don`t believe that ETH 2.0 can be failed, now it`s only question of the time

[Fivestar4everMVP]

This high eth fee has once fucked me up. I was to sell one of a major altcoins but I didn't have enough gas in my wallet to transfer it to the Exchange. I was pained to the bone, because the coin was doing good at that time. And one other time is how myself and my team use almost had of $150 to sell a coin of $650. Lot of other sadden experience, that made me to lost hundreds of dollars. I think the owner of the ethereum chain technology should really look into that. They should.

I perfectly understand how bad this must have made you feel bro, I was in same situation some days ago where bounty manager said he has no eth to distribute hunters token and ask we the hunter to support, he requested that we all send 0.002 for gas, I was reluctant to send it cus I had no eth in my wallet, those who had it where sending and they were getting their tokens credited to their wallet, I had to run around to sort for atleast 0.05 eth, before I could send mine, those who sent earlier and got there tokens had already dumped the price of the token from 0.03 to 0.0008, I was so disappointed and angry.

[Jeger.Kiting]

I don't know what is happening at this time with Ethereum, with shipping costs that are getting more and more expensive, it is difficult for someone to transact with Ethereum at this time, the constraints and problems have not been fixed at all, making many projects switch to TRC20 and not use ERC20 anymore because difficulty with gas costs that much ..

It's possible that Ethereum will die if this happens continuously in the future without any improvement at all ..

https://etherscan.io/gastracker