Is it really that hard to make ethereum faster and cheaper?

[odukoyaewatomi27]

I really don't think it is so hard to make ethereum faster and the transaction cost lower binance smart chain for example was built on the ethereum Blockchain but in a some way that projects built on the BSC has much lower transaction fees and are faster.
Swapping coins on Uniswap for example has been charging people too high for swaps and it needs to be checked

[speedforce]

Move to EOS, you will experience a cheaper (almost free) and faster network. You only need to pay some fee (buying ram) to create the wallet. Its a little bit complicated but a worth thing to do.

[mu_enrico]

The problem is they designed a bicycle and want to change it to become a motorbike. They can't just change the system design so radically and expect no problem. Migrating from PoW to PoS and then sharding, is so radical, that even if it works, there must be a lot of bugs waiting for them.

[kurniawan05]

That's because the number of transactions per second on the ETH network is so large that it slows down the delivery execution process and the large number of transactions also results in the need for ETH for gas fees to increase so that the gas fee price is higher. This is a problem that ETH has to solve.

[RussianEnglishTranslation]

I understand large scale and large success.

But this problem has been around for a very long time.

All the time changes for the better but it is still a mockery and embarrassment.

With such a budget and with such a background it should have been done a long time ago.

This whole crypto world is one absurdity.

Projects collect billions for the witepaper alone

And when a project works out and earns trillions it still can't be done for 3 years as it should be done.


On Saturday, the swap to eth at uniswap/1inch cost again 600 USD (worth of tokens 1000 usd)

the greedy one loses twice

frustrated

Aurora on NEAR already scales Ethereum to 2k TPS and unlike sidechains, it uses ETH to pay for transaction fees. It also allows cross chain contract calls and there are no withdrawal delays like most L2s. It's the best scaling solution for Ethereum.

[sirminesalot]

That's because the number of transactions per second on the ETH network is so large that it slows down the delivery execution process and the large number of transactions also results in the need for ETH for gas fees to increase so that the gas fee price is higher. This is a problem that ETH has to solve.

If we look closely actually it's already solved and ETH gas fees and transaction speed is better lately compared to months ago when it's really high, people started moving to BSC network and right now people are starting to coming back to use ETH network again.
I heard from many source those big fees and network problem is due to preparation for ETH 2.0, when it all settled, everything will become better.

[Argoo]

I really don't think it is so hard to make ethereum faster and the transaction cost lower binance smart chain for example was built on the ethereum Blockchain but in a some way that projects built on the BSC has much lower transaction fees and are faster.
Swapping coins on Uniswap for example has been charging people too high for swaps and it needs to be checked

It is difficult to solve this problem very quickly. Issues like these cannot be resolved in a short line. Here, first, everything needs to be rechecked many times so as not to make mistakes. Better to upgrade the ethereum network as planned than massive disruptions. This update has been going on for about 9 months already. It is expected to be completed early next year.
BSC is a modified copy of ethereum and has a lot of flaws. Therefore, it is better to be patient for a while. Gas charges are already periodically falling to normal levels.

[Chuky92]

Yes it is true about the high Eth gas fee which have already returned and to be frank it is really frustrating. But let's go deeper in this issue, as it stands now, ETH is the only blockchain with loads and loads of projects on it, and this in a way contributes to the issues it is facing including speed, thus the reason for ETH 2.0. The team already understands the issues and are working on it, and it cannot be expected to be done as soon as possible when there are hundreds of projects on it blockchain, that is to say, it requires time and careful implementation in order not to endanger the security of the blockchain. I believe the team will deliver but more time is need to make it work successfully. And another truth is, some of these new blockchains, a time will still come when their gas fees will increase, it once happened with BSC, however it all depends on if they will last that long.

[cryptoknows]

It won't be possible to make ether faster and cheaper now. It is an overflowing coin inside great technology surrounded by greedy miners. The only way out now to help the Ethereum network is to use cross-chains! By running their own blockchains within the ecosystem
For example: Near, Solana, Matic.
It is possible to offload the crowded Ethereum network and use Erc-20 tokens within their ecosystems. You can study this question, it is very interesting and promising! But now, unfortunately, it is impossible to completely cure the disease of transactions and their cost.

[Psynthax]

That's because the number of transactions per second on the ETH network is so large that it slows down the delivery execution process and the large number of transactions also results in the need for ETH for gas fees to increase so that the gas fee price is higher. This is a problem that ETH has to solve.

Not only that, the fee also related to the price of Ethereum which going up like crazy it make the price of gwei seem more expensive.
If there is many transactions per second on Ethereum, the fee price will double and the cost will become crazy too. This problem seem really difficult to solve, maybe Ethereum can follow binance smart chain or polygon so it can make fee cheap and fast.

[kidbounty]

With so many active Dapps residing on the ethereum network and high TPS, it's really hard to make them fast and cheap. ethereum has always had scaling issues and this is a major issue on the ethereum platform. maybe every time ethereum update, it will be resolved. but with time this problem will come back again. so don't expect cheap fees and fast transactions on the ethereum platform.

[Melignya]

I think you just need to be patient, there is a lot of hype around Ethereum and its update right now, it's not just for fun. I recently read an article about blockster, now it is more relevant than ever.
 https://blockster.com/blockdesk/1374_a-guide-to-the-upcoming-ethereum-upgrades

[H1N1]

Move to EOS, you will experience a cheaper (almost free) and faster network. You only need to pay some fee (buying ram) to create the wallet. Its a little bit complicated but a worth thing to do.

EOS is faster and cheaper than ETH indeed, but the price of EOS is still not surpass its ATH until now.
Im afraid if we buy EOS, the value will stay the same even in few years from now.
People in crypto often search for coin that have some volatility and growing value from time to time.