Why do people still use ETH?

[Kelvinid]

Let's discuss what alternatives to Ethereum currently exist? Let's figure it out together!

BSC ? their platform are more cheaper and fastest and also they had wrapped coin that makes more cheaper to move asset from one coin to another. I don't use DEX because I'm quite comfortable with regular exchanges and I've never been staking or for the purpose of earning interest other than trading. so I don't know what causes you to be charged more between. in BSC it seems that everything is low from that much to regular transactions to swaps.

It can't deny that many were moving to the BSC platform when there is a surge of ETH gas fees. We do understand the situation and of course, we choose those platforms that could help us, instead. But we are done already, ETH gas fees are lower down and the chances are that people will turn back using ETH as we know that majority of the projects are supported by ERC-20.

But anyways, the BSC platform keeps growing bigger, the competition is getting stronger between ERC2O and the BSC platform. And it is up to us which one we gonna used where we can save some fees.

[MoneyJ]

ETH is superior to other cryptocurrencies with regards to decentralized applications. Though it can cost more, ETH ecosystem is proven to be the best platform to innovate decentralized finance.

[nelson4lov]

ETH is superior to other cryptocurrencies with regards to decentralized applications. Though it can cost more, ETH ecosystem is proven to be the best platform to innovate decentralized finance.

ETH used to be the most preferred layer 1 blockchain back in the day (since its inception to to 3-4 years ago). As a matter of fact, it became the #1 most used blockchain in 2017 after 98% of all ICOs were conducted on eth that enabled a lot of people to start buying and holding to those ETH tokens. Anyway, this isn't 2017 anymore and ETH has gotten worse ever since. That's why the rise of other layer 1 and layer 2 solutions.

This is why I'm bullish on layer 1 solutions like NEAR protocol. Aside from the dirt cheap tx fees, less than 1 second transaction finality. Not to make the fact that it's eth-compatible, thanks to Aurora (A layer 2 solution) built on NEAR that is fully compatible with ethereum and has a bridge (called rainbow bridge) that allows NEAR <> Ethereum to be bridged.


ETH 2.0 has a lot of big promises and features most of which are already available in layer 1 solutions like Avalanche, NEAR and solana so I wouldn't put to much hope on it in the long term.

[el kaka22]

Ethereum has a much lower gas fee these days so nearly half of all the problems listed here is already gone. I am saying this as a person who favors BSC, but at least ETH is decentralized and that is a very different animal, sure we are going to see more changes in ETH very soon and with eth 2.0 it is going to change a whole lot but even those changes are not made without asking people first, it was asked to community and eth owners and we decided to follow that up so it was asked to us basically.

Secondly BNB is very centralized, Binance controls nearly everything about it, and that is why people do not prefer it, I mean I still do, but I understand the ones that don't, and rest is just not as highly used so why bother. So yeah even though I use bsc over eth, I can still see why people prefer at this point, it is not really as bad as you think it is.

[RussianEnglishTranslation]

Ethereum has a much lower gas fee these days so nearly half of all the problems listed here is already gone. I am saying this as a person who favors BSC, but at least ETH is decentralized and that is a very different animal, sure we are going to see more changes in ETH very soon and with eth 2.0 it is going to change a whole lot but even those changes are not made without asking people first, it was asked to community and eth owners and we decided to follow that up so it was asked to us basically.

Secondly BNB is very centralized, Binance controls nearly everything about it, and that is why people do not prefer it, I mean I still do, but I understand the ones that don't, and rest is just not as highly used so why bother. So yeah even though I use bsc over eth, I can still see why people prefer at this point, it is not really as bad as you think it is.

Ethereum gas prices are crazy but at least we know Ethereum is safe to use. There have been numerous issues with BSC and Polygon. I only feel safe using xDAI and ETH right now. I think Aurora on NEAR will scale Ethereum soon and we won't even have to wait for ETH 2.0.

[Ozero]

I think etherem is an old altcoin that can evolve with the times, so the features in it attract the attention of everyone who wants to develop their projects using the ETH network, and as evidenced by the number of successful projects using the etherem network, although the transaction costs are quite large but very  according to its expensive price and the process is also very fast,

I believe that the rise in popularity of the BSC chain is temporary. The ethereum network will be updated as part of the improvements to Ethereum 2.0 and similar platforms will lose their popularity, which they gained due to the temporary complexity of the ethereum network. Of course, market participants already now need platforms with low commission fees, and therefore everyone is looking for their own way out to continue their normal work. My erc-20 tokens are still in ethereum wallets for now. Ethereum is still ahead, you need to wait a bit.

[Golftech]

So here's a question for you, everyone who trades on DEX from Ethereum. Don't you feel sorry for your money at all? Do you want to wait 10 minutes for an exchange? Do you want to see failed every time you did not guess the commission? You guys are masochists!

Oh yes, what you're seeing and the experts have all judged, so what do you expect?  An agile without a secure validation mechanism for blocks?  You can not understand for property, what is the most important?  I'm sure it's secure and safe.  I also fucked with ETH's Gas, ... but sometimes, I realize that ETH has so strong points that it is one thing to take advantage of its huge liquidity and multitude of coins supported.  something different.  And so, perhaps Sharding on ETH 2.0 will be a very powerful adjunct to remove the long-standing disadvantages.  Just wait, ETH will continue to grow.

Most traders who are waiting for ETH 2.0 expects improvements after this one is release, the updates may bring

more interest from people who are not satisfied with how ETH currently working with those delays and some issues

with the fees, good thing still, there are many developers who still using this chain and that's works for ETH.

[Sollaes]

I am using Binance Smart Chain and Polygon and I am totally satisfied with them. I also refused Ethereum because of fees. Moreover, these alternative blockchains are developing rapidly. A lot of people, especially newbies, get tempted by cheap commissions and come. This way liquidity is growing. Moreover, a lot of new defi-projects appear there every day, so I see development.

[Snappycoco]

You talking about something that's already been fixed mate, Ethereum transaction fee is no longer a problem and August is close which we will see even better and cheaper transaction fee on Ethereum network, the headache is already over, as for the question you asked many people just prefer ETH and you and I can't change their minds

Yeah and Eth2.0 would probably be much greater to this fixing. It could match the low fees of Smart chain and could potentially bring back investors to decentralised network. The Eth's fee's was truly a robbery specially to bounty hunters who earns less than what the fee is.

[sammy21]

The factor that makes people use ETH is in the features it offers, ETH being the first blockchain to offer open source features so that it can make it easier for people to make their crypto according to what they want, plus with the strength of ETH in the crypto market, nothing else doubted the quality of ETH despite the frequent increase in transaction fees.

[pantek talacuik]

I think etherem is an old altcoin that can evolve with the times, so the features in it attract the attention of everyone who wants to develop their projects using the ETH network, and as evidenced by the number of successful projects using the etherem network, although the transaction costs are quite large but very  according to its expensive price and the process is also very fast,

With good quality and crypto that many people have known for a long time has become a natural thing for me with such transaction fees. a good rating will show good things. I can't wait to see the year-end price for this project. Interesting to see Ethereum will return to its latest price in Q4.

[Alanaz]

ethereum gas fees are cheap and there are still many platforms that use erc20...

ethereum is still the most interesting altcoin, the emergence of bsc is only an escape when ethereum gas fees are high. I am also still very active in transacting with ethereum on uniswap.

maybe it's for you and the coin holders above $50, because for us, small traders, trading on Uniswap is still not very good for now. at a cost that is almost 2x it is not comparable with the results exchanged. except we prefer to send it to the market if there is an alternative than having to exchange it on Uniswap. to be honest I own the ERC20 Token but it is not traded on any market other than Uniswap. and until now it is still not useful at all until finally the price continues to fall and lose its value.

[lixer]

I am using Binance Smart Chain and Polygon and I am totally satisfied with them. I also refused Ethereum because of fees. Moreover, these alternative blockchains are developing rapidly. A lot of people, especially newbies, get tempted by cheap commissions and come. This way liquidity is growing. Moreover, a lot of new defi-projects appear there every day, so I see development.

It's all about user preference. There are people who still make transactions with Bitcoins despite knowing that if they take a few minutes and convert their bitcoins into other altcoins, they can save a lot of transaction fees but they just don't care and prefer Bitcoins over these altcoins anyway.

Ethereum was excellent when it first came but now because so many projects are built on the platform, it has become crowded and there are better blockchains in the crypto space now for developers to build their projects and the best ones will always deploy their own blockchain. I must mention here that Solana is another decent blockchain to keep an eye on.

[no-ice-please]

Let's discuss what alternatives to Ethereum currently exist? Let's figure it out together!

BSC ? their platform are more cheaper and fastest and also they had wrapped coin that makes more cheaper to move asset from one coin to another. I don't use DEX because I'm quite comfortable with regular exchanges and I've never been staking or for the purpose of earning interest other than trading. so I don't know what causes you to be charged more between. in BSC it seems that everything is low from that much to regular transactions to swaps.

It can't deny that many were moving to the BSC platform when there is a surge of ETH gas fees. We do understand the situation and of course, we choose those platforms that could help us, instead. But we are done already, ETH gas fees are lower down and the chances are that people will turn back using ETH as we know that majority of the projects are supported by ERC-20.

But anyways, the BSC platform keeps growing bigger, the competition is getting stronger between ERC2O and the BSC platform. And it is up to us which one we gonna used where we can save some fees.

You are also kind of bound to the platforms that offer the network effects you are looking for. One day when all these application have real world usage you don't want to be holding dozens of coins as fees for different multi purpose platforms. An example could be an Airbnb app if you have that on Ethereum, but an insurance app on a totally different platform that they either don't cooperate or you have to hold different gas fee / transaction fee tokens. If you have the insurance app and the Airbnb app on one network, you might be able to buy both with one click (assuming you would have to buy an insurance of course). The more apps on one single platform operate, the higher the overall network effects. That's why most users gravitate towards Ethereum or Binance Smart Chain.

[senyorito123]

There's a lot of alternatives to divert now, we can use bsc network of binance for the tokens now merged to their network. More projects has turned to their platform due to less transaction fees, but ethereum's development won't be neglected because they're still developing and improving their network. Though there's some instances that promise won't be fulfilled due to several reasons, still they remain constant on the marketplace because of continuous support from holders.

[WalkerIVIV]

There have been numerous issues with BSC and Polygon. I only feel safe using xDAI and ETH right now. I think Aurora on NEAR will scale Ethereum soon and we won't even have to wait for ETH 2.0.

What kind of issue that happened with BSC and Poly? I meant the centralized protocol were not perfect and the issue with validator, etc can happen anytime. Even ethereum gets stopped for a while during the implementation of the new EIP. i guess there was no perfect chain.
Once ethereum will able to increase its scale and those second layer will be useless.

[MSN02]

People still use ETH because of the promise of ETH 2.0. ETH has also built a very solid community and is so widely used that it just makes sense as a developer to build on it. There are other projects like NEAR that already do what ETH 2.0 has promised to do, they just don?t have the hype behind it that EHT has. I believe that in the future cryptos like NEAR will become more widely used. I believe that many projects will build bridges to Ethereum like NEAR has to reek the benefits of both. As crypto becomes more wide spread i believe that projects will work with other projects to get both benefits and that?s why ETH will always be the queen of crypto behind Bitcoin. There will be other alts that get close but won’t quite reach that status!

[jostorres]

I think etherem is an old altcoin that can evolve with the times, so the features in it attract the attention of everyone who wants to develop their projects using the ETH network, and as evidenced by the number of successful projects using the etherem network, although the transaction costs are quite large but very  according to its expensive price and the process is also very fast,

And the transaction cost is so high because the number of transactions happening on the ERC-20 blockchain is massive. I am expecting a solution to arrive with the launch of Eth2.0 because they have promised a lot and everyone anticipates big things with its launch.

The closest in terms of liquidity is BSC and TRON. They look good and they have little commission.

I always prefer Tron as a separate coin than projects build in it, apart from USDT of course. For projects to build, I still think ETH and BSC are the best blockchains. In terms of fees, there is just no doubt that TRX is way better than the other two.

[shinratensei_]

ETH is superior to other cryptocurrencies with regards to decentralized applications. Though it can cost more, ETH ecosystem is proven to be the best platform to innovate decentralized finance.

It doesn't superior and there's no way to call that superior dapps. The fact that the transaction of BSC was more than ethereum as per the latest news that was already published last month.
ETH has the first decentralized protocol and so many BSC and Polygon users were still using ethereum as the main dapps.
People were only jumping from one to the another protocol and that's why people were still using ethereum.

[no-ice-please]

People still use ETH because of the promise of ETH 2.0. ETH has also built a very solid community and is so widely used that it just makes sense as a developer to build on it. There are other projects like NEAR that already do what ETH 2.0 has promised to do, they just don?t have the hype behind it that EHT has. I believe that in the future cryptos like NEAR will become more widely used. I believe that many projects will build bridges to Ethereum like NEAR has to reek the benefits of both. As crypto becomes more wide spread i believe that projects will work with other projects to get both benefits and that?s why ETH will always be the queen of crypto behind Bitcoin. There will be other alts that get close but won’t quite reach that status!

And I think there is substance to the promises that Vitalik Buterin makes. So far he has always delivered the technology he claimed to be delivering, albeit it sometimes happened with some delay, but I think that is fine. People now trust again that what ever has been discussed and promised will also be delivered. If they can achieve a decent scale for Ethereum I think that will give the price another push.