Will competitors overcome ETH due to ever-increasing gas fees?

[Farma]

well, people nowadays are looking for cheap transaction fees. It's very clear at this point ethereum is a very good coin. however, since the fee from ethereum has gone up, I rarely use it. in fact, not only me, but most of the other people are like that too.
IMO, currently there are a lot of new projects that are developing their projects on the BSC network, one of which is for reasons of cheaper fees than ethereum. Well, personally, I think this is an important fact. so, if this continues, ethereum will lose its users.

[topbitcoin]

Overcome or vanquish maybe still need longer time, since ETH still be top of coins although people start to change to new coins, we can see although BEP20 network already launched for year but ETH still dominate and price still much more than BNB. I am not said that it is impossible to happen, but maybe need longer time than we expected.

[globalpain]

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

ETH is not a coin that competitors will vanquish. If it had, it would have vanished long ago. ETH is a very popular coin. ETH developers are trying to reduce its gas price. Not only ETH network but other network fees are slowly increasing. However, for those who do big amount transactions, gas fee is not a big issue yet.

Talking about Ethereum I think almost everyone knows that Ethereum is one of the most popular coins and certainly promises that there is no doubt about it,
but indeed the transaction fees can be said to be very high and I think that is a separate obstacle for Ethereum

[tarable]

during this time or in the last few days have you made transactions through the ETH network so you say that the gas costs on ETH will remain the same.
the high cost of ETH gas because the price of ETH is also high among other altcoin prices. if the price of ETH is cheap, of course gas costs are also cheap.

[Jackl87]

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

Ethereum still has the big advantage that they are the first mover in terms of smart contract functionality on the Blockchain. Without that idea all the stuff that is possible within the crypto space like NFT and especially Defi applications would not be possible at all without the inventions of the ethereum team. The problem is that the Defi applications create so much traffic on the eth chain, that the network itself can almost not handle it anymore. I really hope eth 2.0 comes soon and brings down the gas fees to a normal price level again.

[kojektea]

That will happen if ethereum is completely abandoned. Ethereum's high gas makes not all projects enter easily, now very few projects are published on the erc20 network but are highly qualified. Here is the challenge for ethereum competitors if they can get better than what ethereum currently has it will definitely rival ethereum.

[bounceback]

Overcome or vanquish maybe still need longer time, since ETH still be top of coins although people start to change to new coins, we can see although BEP20 network already launched for year but ETH still dominate and price still much more than BNB. I am not said that it is impossible to happen, but maybe need longer time than we expected.

Yes, so far ETH is still the king of all altcoins on the market, so in my opinion even though transaction fees continue to increase, it certainly will not make the price of this coin lose its value, because on the other hand ETH has become one of the most popular coins and many investors interested in investing with it so it will continue to help the price of the ETH coin become more valuable in the future.

[magneto]

Developers are rolling organize overhauls, however gas expenses on ETH stay the same. It's exceptionally costly to perform exchanges on the Ethereum blockchain compared to other competing chains. The ETH 2.0 overhaul will lighten the circumstance but engineers keep postponing the same. Individuals are getting wiped out and tired of ETH's "slowing down" as expenses proceed to rise like there's no tomorrow. On the off chance that I'm not mixed up, engineers will delay the trouble bomb once more (by December) in arrange to drag out the PoW blockchain. The longer it takes for expenses to decay on ETH, the greater its competitors will grow.
Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

I don't think so.

There are a ton of ETH alternatives right now that offer lower fees, yet they have never achieved the market cap or dominance of the Ethereum chain.

It's not just solely about the fees, it's also about the utility and innovation that comes with the ETH chain that simply cannot be replaced easily.

[fadil46]

during this time or in the last few days have you made transactions through the ETH network so you say that the gas costs on ETH will remain the same.
the high cost of ETH gas because the price of ETH is also high among other altcoin prices. if the price of ETH is cheap, of course gas costs are also cheap.

What you are saying is very true because in the past when the price of ETH was still $100, the cost of Gas was very cheap even though the amount of Gas limit for transactions was not much different from today so what really feels right now is when the price of ETH continues to increase, then influence on the cost of Gas will also be there.

[LogitechMouse]

1 Million daily transaction from Ethereum Blockchain Vs. 6 Million daily transaction from Binance Smart Chain.
That itself is enough that most of the projects are either migrating or choosing Binance Smart Chain over Ethereum.

Not all users of these 2 coins are rich and most are just only have a small transactions so they are choosing a low transaction fee blockchain like Binance over high gas fees like Ethereum. There is no martyr that will spend a hundred dollars on gas fee for a ten dollar transaction. This high gas fees has been the problem of Ethereum for a long time already. Sharding is the solution of this but until now, it hasn't been implemented yet. Ethereum is slowly withering because they can't even solve this high gas fee problem that they are facing but hey.. there are still projects who are choosing Ethereum blockchain for some reasons.

[Emitdama]

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain?

I think it is very much possible when we have a competitor who can really take them out, because those I see now actually can't do that. Look at Solana that people thought could do something already has issues and this is why People keep using ETH network amidst its high gas fee because it keeps delivering for people when they need it the most. It is reliable and it is also very fast, the only problem I see is the high gas fee that I believe Ethereum network team should be working on.

[Sterbens]

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

This problem has become very tiring for us who are waiting for changes in gas costs. But it will never end. No matter what Ethereum does, I will avoid them, and there are bigger profit opportunities out there. We still have Solana, Polygon, Terra, and Avax which are quite a cause for concern. Ethereum will only monopolize the market being unfriendly. As a small crypto user who only plays for under $100, it makes someone sick of dealing with the Ethereum network.

[jc12345]

Developers are rolling organize overhauls, however gas expenses on ETH stay the same. It's exceptionally costly to perform exchanges on the Ethereum blockchain compared to other competing chains. The ETH 2.0 overhaul will lighten the circumstance but engineers keep postponing the same. Individuals are getting wiped out and tired of ETH's "slowing down" as expenses proceed to rise like there's no tomorrow. On the off chance that I'm not mixed up, engineers will delay the trouble bomb once more (by December) in arrange to drag out the PoW blockchain. The longer it takes for expenses to decay on ETH, the greater its competitors will grow.
Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

There are several reasons why ETH will remain for now. Some in my view:

• It is the main Alt-Coin with BTC status of the alts. This has some goodwill value
• Lots of big contracts on it
• There is a ton of money in ETH with 185m accounts, 500k+ daily active as at the time of posting, even with these high fees
• They will fix the transaction fees problem over time
• Crypto Punks and Crypto Apes apes on ETH and if you have that type of money paying huge fees does not matter (tongue in cheek)

Having said this the longer the fee problem takes the more other platforms will develop. Other platforms have their own problems though and will also eventually suffer the same effect to some extent that ETH is suffering. Take Polygon for example. Poly suffered the recently due to Sunflower Farms and is still congested a lot. If you analyze the Polyscan explorer and look specifically at the gwei and pending transactions you can see it is also see delays building up and sometimes take long to process if the fees are too low. For some transactions you can see people just putting high fees in tx, just because they dont care and want their tx processed. As at time of posting Poly has 132m unique addresses and 300k-400k daily active addresses based on Polyscan graphs. Perception does play a big role and if ETH overplays its hand and is too complacent, you never know what might happen if perception becomes too negative on ETH and the ETH ecosystem cross-chain swaps on mass so to speak.[/list]

[doomloop]

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

ETH is not a coin that competitors will vanquish. If it had, it would have vanished long ago. ETH is a very popular coin. ETH developers are trying to reduce its gas price. Not only ETH network but other network fees are slowly increasing. However, for those who do big amount transactions, gas fee is not a big issue yet.

ETH did not dispensary before because it was a good coin once but it changed slowly as the gas fees starts to increase uncontrollably. ETH is a coin that already built a strong foundation and it wont break easily just because of that problem and like you said there are big supporters left and they do not care paying extra bucks just to process a transaction because they can still benefit with it.

Most of the complaints that we heard are only from the normal users . well they do not need to force them selves of staying here because there are lots of cryptos lying around that also have the same potential as ETH. Time can only tell if when will ETH return to normal.

[jaberwock]

These competitors have also their bad description that others are seeing. I don't think that they'll be able to overcome eth just because of the fees.
Because if they have to overcome it, long time ago, they should already overtaken ethereum. But as much as we see in the market, still, there's no overtaking that's happening because eth is solid and still favorite of many despite the ouchy fees.

That is right, beating Ethereum at this time would be a really difficult thing to achieve. Ethereum has already reached a level where it would be very difficult for any other cryptocurrency to replace it.Now we are also about to have a new version of the blockchain which is the ethereum 2.0, and most people believe that this new version of ethereum is going to be far much better than the current one, and that means that it is going to beat every other competitor that there is in the market hands down.

So, the chances of all these altcoins that are called the ethereum competitors, beating ETH, is at 0%. And I don’t think that the organization is ready to give up on this fight, because as time goes on they would likely continue to upgrade the platform making sure that it stays up to the level it is meant to.

[Cornia]

Most of the complaints that we heard are only from the normal users . well they do not need to force them selves of staying here because there are lots of cryptos lying around that also have the same potential as ETH. Time can only tell if when will ETH return to normal.

There is no need to use ETH network for small amount of crypto transactions. Now there are many networks in which the fee is very low such as BSC, Polygon Network, Terra, Solana etc. Normal users can use these networks. Even ETH can be transferred for a small fee using BSC Network.

[bhooscream]

Maybe it will. Although it may not replace, the trust and usage of Ethereum platform will be exactly decreased.
We can compare how the fee of transfer in ethereum network is crazy high enough. We can compare how high we must send USDT with ethereum network from an exchange or wallet to others. It needs very high feee. COmpared with the BSC network, TRC, and other networks, it is so damn high. If ethereum cannot solve this problem, many new projects may leave this and prefer to use another network.
I so far always try to use network that uses lower fees, and moreover they also have  quite similar speed on transactions.

[TimeTeller]

Most of the complaints that we heard are only from the normal users . well they do not need to force them selves of staying here because there are lots of cryptos lying around that also have the same potential as ETH. Time can only tell if when will ETH return to normal.

There is no need to use ETH network for small amount of crypto transactions. Now there are many networks in which the fee is very low such as BSC, Polygon Network, Terra, Solana etc. Normal users can use these networks. Even ETH can be transferred for a small fee using BSC Network.

This is the reason why these new networks are getting popular because of cheaper fees.
I am seeing that several exchanges are including these networks already - BSC, MATIC, SOL.
For now, they may not surpass yet the popularity of ETH. But it seems their usage is growing.
If ETH will continue to have expensive fees, these networks will gain more users specially those small traders.

[Saisher]

IMO, I believe if the Ethereum developers will remain deaf to the appeal of its users and still not fix those expensive transaction fees, they might wake up someday that most of its users are gone and already jump to other cost-efficient networks. as we observe today the crypto industry nowadays has changed a lot because of the strong competition that's why the more they delayed the Ethereum 2.0 implementation the more they will loosen its grip and the dApp market domination. 

It's already happening look at new projects coming in their token is hosted in Binance or Polygon chain and if they are hosted n the Ethereum chain the creators also created a bridge in the Binance smart chain, they are the ones that started the smart contract technology but with the growing numbers of users they cannot keep up with it, they should act fast and address the issue I have some tokens that I cannot trade because the fee is half of the value of the tokens I'm trading.

[tarable]

during this time or in the last few days have you made transactions through the ETH network so you say that the gas costs on ETH will remain the same.
the high cost of ETH gas because the price of ETH is also high among other altcoin prices. if the price of ETH is cheap, of course gas costs are also cheap.

What you are saying is very true because in the past when the price of ETH was still $100, the cost of Gas was very cheap even though the amount of Gas limit for transactions was not much different from today so what really feels right now is when the price of ETH continues to increase, then influence on the cost of Gas will also be there.

So it was no longer suitable to discuss the high expensive gas ETH. If if binance and matic have prices adjacent to the price of the Ethereum, of course the cost of BSC and Matic gas will also be expensive on each transaction.