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Author Topic: this eth congestion sucks almost 5 hours  (Read 392 times)
makishart
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March 02, 2021, 11:25:42 PM
 #41

What is the advantage of the eip 1559 so that you say that it can solve a lot of things that happen with eth?
You can read it through this link https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1559.md
As far as i know that will give the limit for the high and low transaction. There will be a lot of things to be implemented on the EIP1559 and you can read the advantage of it from that link.

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Questat
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March 02, 2021, 11:40:08 PM
 #42

Yes very frustrating, high gas fees and delayed transactions on ethereum network. I may say for now ethereum is only for rich whales and to those people who can afford the high gas fees but if you cant dont use ethereum because it will only end up to frustration and blaming the network. Hope eth developer solve this issues because if not time will come no one will use ethereum blockchain.
They should have to come up with a solution for this situation, otherwise, people will stepping away from ETH and ERC20 tokens. Huge fees are now is a concern for everyone, small investors and low capital traders can't move. Huge fees plus delays, it absolutely sucks and I don't think we need to suffer that, we'd rather have to find another way.

Might people now are hoping that the ETH price will drop and turn back to $100, $200 where the Gas fee is low and favorable for everyone. We are not happy anymore at this time.

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March 03, 2021, 03:11:58 AM
 #43

Yes very frustrating, high gas fees and delayed transactions on ethereum network. I may say for now ethereum is only for rich whales and to those people who can afford the high gas fees but if you cant dont use ethereum because it will only end up to frustration and blaming the network. Hope eth developer solve this issues because if not time will come no one will use ethereum blockchain.
Now the fee is 100 gwei per gas which is quite "cheap" if compared to when the network traffic is on its peak but honestly it's far higher than other blockchain.
But to be honest, we here have no time of waiting ETH to increase its TPS and many people will try to find alternative to ETH but it's not gonna make people leave ETH because if they did, the fee will also decrease meaning the problem gone.

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March 03, 2021, 08:38:16 AM
 #44

i have sent some erc20 token to binance. now almost 5 hours still going. am really fed up with this.... bsc is the best and trc20...  eth sucks
I hope ethereum team will fix this as soon as possible, many new and old projects are ignoring ethereum blockchain for bsc right now and their numbers are growing, this is indeed a bad news for ethereum, high gas fee is affecting it's growth and adoption

Ucy
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March 03, 2021, 10:00:15 AM
 #45

Devs should release eip 1559 without asking anyone. That would solve so much things going on with eth.
The dev wants implement EIP 1559 but the problem is miners are against it while we know that this solution can be activated when there will be an agreement between all of miners to upgrade its client. A very difficult way for the users of ethereum platform to see the implementation of this solution.
Miners are only taking the advantage from the high fees


Wonder why they are against it. I haven't fully gone through the proposal (EIP 1559) but it seems they are against because they probably benefit more from the current fee system (which clearly have problems) at the expense of the whole network/users.
Wish they have better solution that'll be acceptable to all network users/participants. Consensus should always be inclusive on truely decentralized system/network

Dave1
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March 03, 2021, 11:26:32 AM
 #46

Devs should release eip 1559 without asking anyone. That would solve so much things going on with eth.
The dev wants implement EIP 1559 but the problem is miners are against it while we know that this solution can be activated when there will be an agreement between all of miners to upgrade its client. A very difficult way for the users of ethereum platform to see the implementation of this solution.
Miners are only taking the advantage from the high fees


Wonder why they are against it. I haven't fully gone through the proposal (EIP 1559) but it seems they are against because they probably benefit more from the current fee system (which clearly have problems) at the expense of the whole network/users.
Wish they have better solution that'll be acceptable to all network users/participants. Consensus should always be inclusive on truely decentralized system/network



The reason is pretty obvious, with EIP 1559 the miners fee are going to be reduced significantly, that's why the are opposing. It's boils down to business, that's why if their revenues are going to be cut, for sure many are going to raise concern about it.

So the revenue goes like this, from Miners->ETH stake holders. Millions if not billions have been generated by the biggest pools and they want to continue so this EIP 1559 proposal might take years to be implemented.

R


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