What is the future of Ethereum smart contracts with +$20 cost of gas?

[JeffBrad12]

ETH2.0 is going to make trx fees less as current Ethereum  Network can do only 15 trx per second that what is making te fees gets higher and higher, the new network on Ethereum 2.0 will upgrade this to 15 000 TPS this will make it less a pain the head to pay those gas fees.

When this change is scheduled to happen? February 2022 is a realistic date...
https://cointelegraph.com/news/when-will-ethereum-2-0-fully-launch-roadmap-promises-speed-but-history-says-otherwise

Lot of things can happen since.

The solution for the gas fees already created https://cryptopotato.com/the-plan-to-cut-ethereum-transaction-fees-gains-steam-meet-eip-1599/

The problem is the miners were against it. That's why the ethereum users will always become a party that will be losing in this game. Miners farm more and more money while the users can't even send their tokens.

People should never take ethereum 2.0 as a thing that will solve everything. I don't even believe that.

[fenixosup]

Why nobody is creating threads like this about btc fees?

[DIA7]

Why nobody is creating threads like this about btc fees?

you are asking a good question but the answer to it is BTC is not used for a daily transactions it's currently for an investment or storage if you want to send small amounts you should use BitcoinCash or Litecoin they are better for daily uses as they are cheaper and much faster.

[bittick]

Why nobody is creating threads like this about btc fees?

You can visit the bitcoin discussion section and you may find some people already discussed about the bitcoin fees, the answer is just use the LN and i think that will fix the scalable problem on bitcoin tx fees.
The bitcoin fees is still affordable but it's different with ethereum fees. When you are using swap service and you may pay $70 just only for the fees.

[freigeist]

Why nobody is creating threads like this about btc fees?

you are asking a good question but the answer to it is BTC is not used for a daily transactions it's currently for an investment or storage if you want to send small amounts you should use BitcoinCash or Litecoin they are better for daily uses as they are cheaper and much faster.

That is partially true.
But do not forget that not everyone can buy BTC at this prices  and invest in it.
It seems to become only a playground for the wealthy people.
I think small investor could potentially get rekt in future if the fees goes higher so that
they could not transfer the amounts as the fees will be higher than the amount
that they hold in the account (address).

This is the danger also for ETH and other high price and high fee crypto.

[Francis Freeman]

https://ycharts.com/indicators/ethereum_average_transaction_fee

Today the cost for 1 transaction reached +$20!
How can all these smart contracts continue to operate? How these Defi projects can continue to be functional?

Are we heading to a crypto crash? Any feedback and comment about this situation? How this is affecting you or your business?

Nothing too complex about it. They need ETh 2.0 and reduce the gas fee as soon as poosible or we will see projects and DAPPS moving to other protocols. We are already seeing many planning to move to Polkadot and there are competitive protocols coming up.

[TWW]

I have seen plenty from plenty of my friends that they have a gas fee of about 50$ and above which I thinl must be corrected by the ethereum developer in order for them to still get the trust of their users and stock hodlers. And I hope that with the ETH 2.0 it will fix this kind of huge amount of gas fee that many cryptos enthusiasts is having a hard time with.

why are discussions like this still being discussed? is not something simple and easy to understand actually a situation where when the transaction costs of a platform have increased. believe that the development team from ethereum has been trying to create a solution for increasing transaction costs. at this time I think it looks cheaper, tries to see for yourself.

[Review Master]

It's really painful for only small crypto hodlers to make any transections of defi projects on ethereum blockchain. On the other hand, whales can do any transections without any problems as they have enough funds to do so. BTW, we just need to wait for the 2nd phase of ETH2.0 where sharding chain will be added which will helps the ethereum network to maintain gas fee to a normal level which might be started to implement in Q4 of 2021 or Q1 of 2022.

[Shallow]

This is affecting everyone, so far you are transferring Ethereum tokens unless otherwise.
Nowadays when you remember the gas fees it will take to send an Ethereum based token or ERC token to an exchange, you will just abandon it because it won't really make sense to you or look worth it, and the longer this goes on, the more people question their reasons for using anything relating to Ethereum, and if projects starts asking such questions they will gradually start looking for answers and of course other platforms are there, but however the only good side to it is that, the Ethereum blockchain has one of the best smart contracts hence the reason more projects are still using it.
About crypto crash, we aren't heading to such, however this can be seen as what comes with bull run since many people are now trading and carrying out various transactions, and with the anticipated ETH 2.0 we just hope it will be taken care of. Defi on the other hand might not find it funny, but I believe if the project is one with good use case then most investors won't really bother spending the gas fees as they know what they will gain.

[Novatech8]

EIP1559 is the solution but I don't know when this will triggers and reduce the cost of transaction on Ethereum network, right now Ethereum is not a good place for those who have too less Ethereum coins in their wallets, unfortunately only Ethereum whales will enjoy using Ethereum in this Bullrun

[1l1l11ll1l]

If this problem continues, I'm sure not only the defi market will suffer the impact, but also to a large part of the crypto community, given the high volume and activity of transactions. Of course ethereum should solve this as soon as possible, at least they provide an update on this issue in ethereum 2.0. there are some projects that have now switched to another protocol at a lower fee, and I'm sure there will be more if etheruem doesn't look for an accurate solution immediately

[eaLiTy]

new solutions would just coming up in the next months or years lowering these fees.

The million dollar question is, whether these solution will provide any change in the insane fees and help the minor investors. There was a time when ETH was mocking the high fees of BTCitcoin and Vitalik Buterin was certain that it will not happen in ETH and time showed the truth  .

high fees isn't a bad situation. there is interest to use ethereum blockchain, moreover there is an huge interest and this is why fees are sky rocketing. Several projects and solutions have been proposed and some have already been launched like loopring or beacon chain 2.0 ...

The higher fees are bad, right now everyone is trading because of the market rally and there will be a time when the market goes down and by that time it is not sorted out, many of the projects will die off simply because of these high transaction fees.

[Ureung jameun]

https://ycharts.com/indicators/ethereum_average_transaction_fee

Today the cost for 1 transaction reached +$20!
How can all these smart contracts continue to operate? How these Defi projects can continue to be functional?

Are we heading to a crypto crash? Any feedback and comment about this situation? How this is affecting you or your business?

this was a surprise to me, seeing the very high transaction fees that made me think long enough to make 1 altcoin transaction that was in the ethereum wallet to the market exchange. and at the moment I only hope the Ethereum Platform returns its previous low transaction fees soon. because conditions like today make it difficult for many people and feel burdened by high transaction fees.

[hari9981]

Its will force many developers to migrate their projects to another smart contract platform like EOS, Tron, Cardano, or even Polkadot.
This gas fee issue is unavoidable issue which caused by high price of Ethereum and too crowded transaction in the Blockchain.

[Tigboom]

this is the new phase and now its has become a reality that we are not comfortable with. the only way to avoid this is to convert your coins to USDT to be more stable and send anywhere you want to trade or use other low tx fee coins like TRX, BNB , and so on.

[darewaller]

It's really painful for only small crypto hodlers to make any transections of defi projects on ethereum blockchain. On the other hand, whales can do any transections without any problems as they have enough funds to do so. BTW, we just need to wait for the 2nd phase of ETH2.0 where sharding chain will be added which will helps the ethereum network to maintain gas fee to a normal level which might be started to implement in Q4 of 2021 or Q1 of 2022.

During that period, I would highly suggest you and anyone else who doesn't have a lot of money to check out Binance smart chain, it is basically like ethereum smart chain but instead of having this huge high fee situation, you have few cents at most, I have always paid under 1 dollars for everything without exception. They have great projects there too, in fact I believe they have better projects there because the ones that are good are good and long term while the ones that are bad all seen and shown so that people do not invest into it, Binance itself invests a lot of money to many of them as well.

At the end of the day, if you want to still be in the DeFi world and if you want to not spend too much on the fee's, I definitely suggest checking out BSC, that way you would be capable of putting money into things that make you money without making others richer.

[Rexler]

ETH2.0 is going to make trx fees less as current Ethereum  Network can do only 15 trx per second that what is making te fees gets higher and higher, the new network on Ethereum 2.0 will upgrade this to 15 000 TPS this will make it less a pain the head to pay those gas fees.

I heard it was going to be out by this year, I just hope it will go live real soon, cuz the gas fees these days are annoying, I can barely do transactions with any ERC20 token cause it will require eth to send, also can't make use of a DEX all because of this high gas fees, it's just like transactions on Ethereum Network are meant for the rich people who can afford to pay any tx fee needed, while does who can't afford it the high TX fee simply use tron(trx).

[Kang TB]

i'm sure this gas issues will impact the price sooner or later
because a lot of small investors stay away from ethereum and find other alt with small fees, and thats not a good sign
so, i hope eth foundations will give a good solutions on it

[santiPOGI]

https://ycharts.com/indicators/ethereum_average_transaction_fee

Today the cost for 1 transaction reached +$20!
How can all these smart contracts continue to operate? How these Defi projects can continue to be functional?

Are we heading to a crypto crash? Any feedback and comment about this situation? How this is affecting you or your business?

Perhaps, if you withdraw a huge amount of money coming from the cryptocurrency or bitcoin I think 20$ is just a small thing for you.
But if you are not belong to the rich or middle traders here 20$ for the gas fee is really expensive. So, with the price value of ETH we don't know if it is going to crash the price in the market, that is very unpredictable. But in the end, we still don't have a choice especially if we need money to convert into fiat.

[Vaskiy]

The usage can be increased only through the decrease in the gas cost. For sure the team will be working on it. This isn't an easy thing to be done in a short. For sure it takes time. More trusted platforms providing the same access as the ERC20 has reached the market, but the credibility of ETH smart contract stands high. To break this, there isn't any perfectly developed platform yet.