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

[Sterbens]

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.

If we often play with Ethereum fees, it might be familiar to take advantage of the FTX exchange which is quite friendly with its fees that do not pose a barrier to its users. As far as I'm concerned, it's a pretty good alternative to always using Ethereum fees for one or 2x deliveries. Btw, almost everyone complained for a long time, but Ethereum remains deaf and only prioritizes the big merchants.

[Alert31]

Only the rich in the crypto world can use ethereum because they can afford to pay higher gas. Competitors are taking the opportunity to shine as Ethereum struggles with lowering their gas fee. But despite of higher gas fee Ethereum still the best altcoin to invest. Maybe for now BSC and Polygon is the best alternative to use for making transactions but I still believe that someday Ethereum will come back with the lowest gas fees.

[jc12345]

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 an interesting view, referring to normal users. You dont say what you define the rest of the users as - perhaps they can be called "elite" users? I saw today yet another NFT launched on ETH. Perhaps ETH will remain as the elite alt-coin chain for high value NFTs and big shot contracts, and the rest of the normal users will use the new cheaper chains.

[rozak]

It will not necessarily be cheap if Ethereum 2.0 is successfully launched in the near future because the gas count on each transaction will also be the same according to the price of Ethereum.
The current competitor of Ethereum will also suffer the same fate as Ethereum regarding the cost of gas at some point if the price of the competitor's coin equals the price of ETH.

that's not necessarily the case either. not because the price is expensive and transaction costs also increase.
Bitcoin used to have a pretty hefty transfer fee as well. but now it's been greatly simplified.
Ethereum 2.0 attempts to address this issue. Success or not, it all depends on how the result will be. if it's still high, I think this is indeed an opportunity for BSC, Polygon, and Solona who will continue to increase their adoption.

[SirLancelot]

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?

The three strongest Ethereum challengers I know of are Cardano, Solana, and Avalanche; I see these three currently as the biggest challengers, but I still don’t think that any of them would be able to beat Ethereum, because has the first movers advantage over all of them. It’s just like the same advantage that bitcoin has over every other coin there is in the market.

So, Ethereum would continue to beat them for now, and possibly for good, because of the new ETH 2.0 that is going to be launched soon and is believed to be far much better than the current version of ETH. So for me, Ethereum still stays at the top and winning.

[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.

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.

People keep said about fee, but ETH itself have feature which maybe attract their investor like more coin to mining or maybe when in POS, ETH can made people start to buy it and make demands. (to be honest i am not really know when is POS, or maybe POS already started because not follow ETH progress) but my amateur opinion says that it can create demands for ETH.

[zulfi125]

The delay in ETH 2.0 will increase the growth of ETH competitors because most of the crypto community not using ETH network due to high gas fees and there is a new solution of ETH network is layer 2 but you need to high pay gas frees from transfer funds from L1 to L2 but can save gas fees on L2, gas fees issued should be fixed on ETH network soon so that user can use the ETH network instead of others networks.

[globalpain]

It will not necessarily be cheap if Ethereum 2.0 is successfully launched in the near future because the gas count on each transaction will also be the same according to the price of Ethereum.
The current competitor of Ethereum will also suffer the same fate as Ethereum regarding the cost of gas at some point if the price of the competitor's coin equals the price of ETH.

that's not necessarily the case either. not because the price is expensive and transaction costs also increase.
Bitcoin used to have a pretty hefty transfer fee as well. but now it's been greatly simplified.
Ethereum 2.0 attempts to address this issue. Success or not, it all depends on how the result will be. if it's still high, I think this is indeed an opportunity for BSC, Polygon, and Solona who will continue to increase their adoption.

Let's wait if it's true that Ethereum can simplify gas costs when we make transactions like what happened with Bitcoin. But I still doubt that the team from Ethereum is willing to do it because the issue of releasing 2.0 is not current but has been on the table for a long time.

We'd better leave this matter completely to the team and hope they really get over the high transaction fees,
I realize it's not an easy job but I still believe in the Ethereum team,
The most important thing is to just follow the developments

[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.

If we often play with Ethereum fees, it might be familiar to take advantage of the FTX exchange which is quite friendly with its fees that do not pose a barrier to its users. As far as I'm concerned, it's a pretty good alternative to always using Ethereum fees for one or 2x deliveries. Btw, almost everyone complained for a long time, but Ethereum remains deaf and only prioritizes the big merchants.

ETH 2.0 which was planned to be released has not yet happened. maybe ETH 2.0 will be the same as what happened to BTC at that time the problem of high transaction fees.
from the ETH 2.0 plan which many people say will be a solution to the high cost of gas, then we'll see if it really will be a solution or not.

[lobo13hf]

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.

Yes and even avalanche will be almost surpassing ethereum in term of transaction volume. The new announcement from ethereum developers if ethereum 2.0 will be gone and the scalabilty solution may get delayed has created another fear again if people can't use ethereum blockchain anymore due to the transaction fees. Miners and developers can't work together to fix the problem. More and more people feeling tired with ethereum gas fees. They are migrating to the another blockchain and they rarely came back in again caused by the new blockchain make them feel confident. Ethereum is always forcing people to pay more from what they can afford. Expensive transaction in the world.

[poodle63]

But I still doubt that the team from Ethereum is willing to do it because the issue of releasing 2.0 is not current but has been on the table for a long time.

something like fixing the gas price is a lot more complicated than it seems.
even until right now the team behind ethereum could still do very little in fixing this problems that the rest of smart contract platform that was initially created as layer 2 solution started flourishing and becoming more and more dominant.
there is always big fat chance that ethereum gonna be irrelevant in the future considering it’s really slow in fixing its problems, that the second layer solution blockchains are getting more and more promising projects like the metaverses that could gives them an opportunity of becoming a real ethereum killer in the future.

[KaliLinux]

I think competitors are already on the move. There are some L1 operating and some of those eth pioneer are already using those alternatives due to eth high gas fee. We cant blame them as the eth network really pain the ass having huge fee for every transactions. These will be limited only to whales cause potential builders and traders will be hurt with such fee.

Maybe this could be the option for them if they have constantly failed to resolve a single problem everyone has been complaining about.
I was reading this article sometime last year The top 5 ‘Ethereum killers’ of 2021 and it is obvious that these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

[cryptoaddictchie]

these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

Actually yes. With their low fees ecosystem, these platform can somehow advanced more than eth system. Avalanche almost same in usage of transactions already so its a matter of time some will realize this and constantly shift from eth to avax or other L1 project. Im sure eth network wouldnt like that but with their problems there is no other choice for some users who cant take expensive gas fee.

[Ararbermas]

I believe there's a chance that many believers of eth will gonna use other assets just to prevent paying mas fees if ethereum team didn't make a move and keep ignoring thus feed backs about the current situation.. As the matter of fact every update there's a lot of people expecting that the fees will decrease but still the same until now.. So if it will last for sure many people will find another way to continue their work instead of waiting for Ethereum fees to decrease, and of course their choice will be the competitors..

[X-ray]

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.

it shows that when the price of binance coin and matic got appreciated and then the gas is also increasing a little bit but it's good to see that the scalability have been preventing BSC and matic to have tbe same transaction feesl like ethereum. It seems like that people are still trading on ethereum blockchain caused by it's not all of assets available in the layer 2 ethereum blockchain. You must also see that some tokens like shiba inu was only using ethereum as its main chain. it doesn't even think to migrate into the another blockchain and that makes people have no choice other than trade in ethereum blockchain. that's why some people are still choosing ethereum over layer 2 solutions that exist in the market. BSC and matic scalable enough to handle massive transactions and it can be seen from the daily transactions happened in the network.

[South Park]

If ETH can’t address the problem, then most probably other network will take over who offers a faster and cheaper network. I see SOL to close enough for this, if the hype of ETH slowly gone I’m sure its competitor have a better chance now. We’ve been raising the problem since then but until now there’s no solutions ETH should aware of this,  and assure the public that they are already working on this, unfortunately there’s no news about this.

Without a doubt the ethereum network is in problems, years ago it did not really had any competitor so they could get away with whatever fees you needed to pay as there was no alternative, but things have changed since then, I do not know if it is because the developers always thought this was going to be the case or it is just another case of ineptitude but they cannot allow this to continue, otherwise people are going to move on permanently from their platform, and that is not something they want.

[Congyang]

I think competitors are already on the move. There are some L1 operating and some of those eth pioneer are already using those alternatives due to eth high gas fee. We cant blame them as the eth network really pain the ass having huge fee for every transactions. These will be limited only to whales cause potential builders and traders will be hurt with such fee.

Maybe this could be the option for them if they have constantly failed to resolve a single problem everyone has been complaining about.
I was reading this article sometime last year The top 5 ‘Ethereum killers’ of 2021 and it is obvious that these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

but on the other hand we must also be able to see that they are also following in the footsteps of ETH and even though they are predicted to be able to turn off ETH but so far no one has actually been able to target it.
In fact, I feel that having other competitors will be beneficial for ETH as well as for others.
because indeed we still have options and indeed the ETH killer that is predicted to have problems also in it such as lots of scam tokens and others because it is easy to access in making tokens because of the low cost required

[tvplus006]

Maybe this could be the option for them if they have constantly failed to resolve a single problem everyone has been complaining about.
I was reading this article sometime last year The top 5 ‘Ethereum killers’ of 2021 and it is obvious that these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

It is the high gas fees that confirm that the Ethereum blockchain is the most in demand for the use of DeFi protocols and Yield Farming. They lead to an excessive load of the blockchain, which is the reason for the high cost of transactions. Thus, when the scaling problem is solved, and it will eventually be solved, we will see low commissions again, but they will still be higher than in alternative networks. In addition, the high cost of ETH also negatively affects the cost of transactions.

[JayTrain]

Of course they can, and I think they will surpass if the developers pull with the ETH 2.0 update, these are such as bsc, polygon, solana, where the price for gas is about $ 0.5 and it's great, compared to $ 30-50 at best, and modet and all $ 100 with swap on dex exchanges.

[QueenVera]

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why?

They would not, just as nobody in the right senses will abandon bitcoin for the development of altcoins instead they will combine both. Ethereum is very easy to use and more popular than most of the new smart contract blockchain. It will take years before any of them can catch up and as they are trying the catch up so is Ethereum advancing in the technology.

Before we did not have concept like decentralized finances (Defi) or Decentralized autonomous organization (DAO) but now we have all this new trend coming up on the Ethereum blockchain before other blockchain starts adoption it. Ethereum will always lead the way.