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

[RPDesim]

The price is comically ridiculous, and its pretty much preventing ethereum to be ethereum but I guess there's always a bright side to look at - an article I've read yesterday explained that these ridiculous prices could actually mean a bullish sign for ETH

I mean there's obviously a reason why ETH keep hitting a lot of ATH these days, and one thing to also watch during a heated ether market is the ETH/BTC trading pair. A rise in this market signals traders are selling their bitcoin for ether; it has appreciated over 75% in 2021.

[jjdub7]

The future of smart contracts will be alternative chains!

The current fees are annoying and blocking all normal transactions. I'm currently avoiding Ether like a plague!

[sammy21]

The future of smart contracts will be alternative chains!

The current fees are annoying and blocking all normal transactions. I'm currently avoiding Ether like a plague!

Of course, currently, Ethereum transactions will be affected by what happens to the transaction fees charged. If there are no more trader and investor-friendly updates I think there will be other asset alternatives to replace Ethereum in the future.

[Fredomago]

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

Once small players start to trust another alternative project, it will immidiately impacted to the whole chain, if this high fees will continue along the way more and more traders and investors will seek for any alternatives.

There are lots of options and sooner or later another project will move forward and take this opportunities to snatch the popularity from ETH,

For now, since most of the project are still developed under ERC that's why a lots are still stuck using this system, don't have any options but to embrace this fees in order to transact and complete their trades.

[TastyChillySauce00]

The future of smart contracts will be alternative chains!

I can't agree with this. The only problem in ethereum just the scalability and no more. When it can be fixed and I think that people will be going back again to the ethereum. This is happening so many times since a few years ago.

The current fees are annoying and blocking all normal transactions. I'm currently avoiding Ether like a plague!

Me too and I'm actively using tron as an alternative chain for ethereum but I can't deny that the majority of my asset in ethereum. lol

[libert19]

Yeah, they are horrendous, I paid $100 fees for staking transaction (it's monthly wage to some people where I live) I really wish to see more layer 2 integrations in ethereum projects, or it should scale itself.

[Psynthax]

Just wait for ETH 2.0 completed they said to have 2 solutions for the current fee problem that is sharding and state channels that said to be able to increase the current blockchain to 100,000 tps.
But it's true that the current cost of gas more specifically for smart contracts are ridiculously high and hinder the development and blockchain activities by a lot.

The future of smart contracts will be alternative chains!

The current fees are annoying and blocking all normal transactions. I'm currently avoiding Ether like a plague!

Well the articles i've read said eth 2.0 gonna have side chain.

[aprilnot]

If this problem persists, I'm sure it's bad for Ethereum. but the plus side is that many competing platforms are starting to be glimpsed, and become an alternative choice. This is good for Dapp network development, because it does not stack on one platform. it is time for developers to move away from ethereum, to a cheaper platform. that way the ethereum network becomes looser. but until that happens, this problem will never be resolved. and will continue to exist forever.

[KimmyF]

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?

Actually, we are heading for the next bullrun and crash, but the difference is one after another. Not only are Ethereum transaction costs high, so many are there. That's why I'm using a Tron blockchain. We know that the bear market has stayed alive for a long time, there we saw low transaction cost of Ethereum. Now of this high cost, we won't sell a few ERC-20 altcoins, so we are headed to the next bullrun.

[Teraboy]

Actually we are heading for the next bullrun and crash but different is one after another. Not only Ethereum transaction cost are high, so many are there. That's why I'm using Tron blockchain.

The chain with non sense txs only happened with ethereum chain and bitcoin chain. Another chain other than those coins were still feeling good with sense tx probable around single cents until two digit cents.
Honestly the chain that owned by bitcoin and ethereum are so slow. There must be a lot of improvements.
There's no signal if we are heading the crash. Tron can be considered as the best alternative especially for stable coin tx

[ije07]

Obviously, the rising cost of ethereum gas has affected my business. How come? because the cost is so high that I can't do much but watch this market situation. I only have a few small tokens and it's badly listed on the uniswap exchange. this is not worth the sales of the coins. but i don't think this is ethereum crash. there may be times when the cost of eth gas drops another time.

[Jackl87]

The scalability issues of Ethereum in it's current state are shown again nowadays. If you have to pay 20$ of fees to do a transaction that is worth 10$ than something is wrong. Some actions like Yield farming even require multiple transactions to function.
I'm just happy that the development of the transistion from POW to POS have already started a few years ago and are now almost done. Once ETH 2.0 is fully rolled out those high gas fees should be a thing of the past.

[masterrex]

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?

IMHO, If this problem will not fix I believe those platforms will face a serious problem including Ethereum itself because I still believe that the majority of traders are just small or medium, which is already pissed in this situation, I believe that the crypto industry is not intended to function like this, because if we compare in 2017 Bullish market trend the fees are not high like this one today. for me its already a form of corruption, Ethereum becomes the worst platform to use and we should start finding other alternatives until it was not fixing its TX fees problem.

[JooBra]

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?

IMHO, If this problem will not fix I believe those platforms will face a serious problem including Ethereum itself because I still believe that the majority of traders are just small or medium, which is already pissed in this situation, I believe that the crypto industry is not intended to function like this, because if we compare in 2017 Bullish market trend the fees are not high like this one today. for me its already a form of corruption, Ethereum becomes the worst platform to use and we should start finding other alternatives until it was not fixing its TX fees problem.

Well the solution for all that is ETH 2.0 but until its done and running it can be too late. That depends on how much the price will go up. I think it will get worse since the price will go up more with bull market.

[mianvicky1]

These days gas fee are very high even if we need to make a little transaction gas fee on this is around 12 to 15$. But i think after some time ot will reduce. We need to wait for that time.

[arifteguhr]

This created a problem for me because with the gas boom I am currently stopping to send tokens in my wallet. I didn't trade dex on Uniswap. in August I was able to arbitrate altcoins on uniswap and sell on other exchanges but now it's the opposite. the loss that I get if I swap with a fairly high fee. I don't think I'm the only one complaining about the current high gas levels.

[distr@yopmail.com]

This created a problem for me because with the gas boom I am currently stopping to send tokens in my wallet. I didn't trade dex on Uniswap. in August I was able to arbitrate altcoins on uniswap and sell on other exchanges but now it's the opposite. the loss that I get if I swap with a fairly high fee. I don't think I'm the only one complaining about the current high gas levels.

almost all ethereum network users currently experience the same complaint as you. I also discouraged myself from trading because I saw such high transaction fees. at this time if you look at the ETH Gas Station then you can see that the current Gwei is up to 500. that is really burdensome for traders even though many altcoins have experienced price increases.

[CuriousGeorge]

look at the ETH Gas Station then you can see that the current Gwei is up to 500. that is really burdensome for traders even though many altcoins have experienced price increases.

That's crazy and im paying $18 for a single transaction and it's not on swap service but when i was using swap service and the result will be even higher than it
500 gwei is for trader but the average gwe was around 200 and it needs a few minutes to confirm the transaction.
The massive adoption is coming but ethereum is not ready for that.

Ethereum needs a solution as soon as possible.

[Ozero]

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?

The current bad situation with the high price of gas for transactions of ethereum and its tokens does not indicate the collapse of the cryptocurrency. Most likely the opposite. This situation arose due to the increased popularity of ethereum, which caused a sharp load on the network as a whole and, as a result, an increase in the price of transactions.
We, apparently, will only have to make transactions for large amounts for now, and with small ones we will have to wait until Ethereum 2.0 is completed.

[Review Master]

~

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 know about binance smart chain as well as using that for farming new tokens from various projects. But adoption on ethereum blockchain is greater than BSC or other layer-2 solution provider blockchain. Except BSC, i'm also using Terra blockchain where fees are more less than BSC. At the end, we need to focus on the adoption of those blockchains because ethereum has more projects than others.