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Author Topic: Is Ethereum going to Die?  (Read 19653 times)
worldofcoins
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August 24, 2021, 10:37:33 PM
 #901

What's going with gas fees? After the London fork, the gas fees only went up. They raised gas limit, and the blocks are half empty, even 5% - 15% filled, but gas fees are through the roof! It's not about limited capacity right now, yet it's very expensive. What is reason for that?

And what is minimum gasused multiplier?

Well yes I had the same question before I discovered by ETH wallet had around 0.17 ETH in it and in the Past, I didn't send them because the fee was extremely high, more than 50% of what value ETH address had so I left it alone.

2 months ago when I found out ETH has been forked and ETH fees have been lowered I tried to send them to an exchange and it worked, I paid around 0.006 ETH fee rather than paying around 0.09 ETH.

+_-
Chuky92
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August 25, 2021, 09:32:34 AM
 #902

Even with the high gas fees, ever wondered why most projects still prefer Ethereum blockchain, even many old projects on the Ethereum blockchain are not even thinking of leaving, that in my own understanding means that Ethereum is serving them well and quite better than others.
Nevertheless, the Ethereum team had two major implementations which are the London hard fork and the ETH 2.0, the London hard fork has been implemented and it is working successfully with the aim of reducing the circulating supply of ETH, while the other is aimed at solving scalability issues such as high gas fee and low speed of transaction. Thus for a blockchain with such team, only means that Ethereum blockchain will keep growing in value and not going to die.

adibi12
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August 25, 2021, 01:44:11 PM
 #903

I never thought that ETH would die and be lost in popularity, if we see clearly that ETH continues to be popular even though the network continues to slow down due to dense transactions and high transaction fees, until now people still need ETH as a substitute for BTC and many new coins are born from smart contract.

DibiaVxosis
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August 25, 2021, 09:38:07 PM
 #904


When you are driving your car but you have found that there's a problem in your car and will you still drive your car? It doesn't make sense to do that. You may need to repair your car to drive it again.
Congestion is not a big problem as it will be solved soon and once that will be happening and there's no need to say another competitor has a lot of potential to take the ethereum's place.
Remember about EOS and TRON which have declared to be ethereum killers and then they are failed.
Yea there is definitely no need to call any project ETH killers because if ETH dies it will affect the whole crypto. Well I think possible some day this whole madness of high fees and slow transactions will definitely be over, well is really so bad that the ETH 2.0 has been launched and yet still no much changes, just a slight reduction in fees but it's still high compared to the amount of we do pay for fees back then

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