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Author Topic: The main problem with ETH...  (Read 341 times)
Abiky (OP)
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June 14, 2024, 11:56:37 PM
 #41

I think moving to POS was the mistake not the design of their blockchain and the smart contracts within it. They somehow survived it until ICO came that bloated their chain because of the number of smart contracts that was created and the vast amount of transactions that is happening. Even before, it was already a slow network and they thought they can fix it by moving to POS. Well, it did somehow but what I like now is the transactions fees getting cheaper but I hate it when it comes to ERC20 fees.
I don't think there's much fixing that will happen but they will always be the top 1 when it comes to the altcoin industry and for many years it's possible that may not change.

PoS was supposed to improve performance and focus on cost-efficiency. But so far, things remain the same as before. It's even worse with the "meme" coins craze. We can blame on-chain smart contracts for this.

Wouldn't Ethereum had less load if everything else is moved off-chain (no centralized L2s)? Sort of how Avalanche does. Consensus has its own layer, smart contracts have their own layer, and the base chain (for normal transactions) has its own layer. The 3-tier approach for scaling is genius, imo. ETH devs should redesign the network for the benefit of all. L2s won't stay cheap forever. They're limited by the L1s capabilities.

Solana is even more practical than Ethereum. If it wasn't because of the constant network outages, it would've already "killed" ETH as the leading smart contracts platform in the world. The only reason why ETH is still #1 (as in the number one altcoin), it's because of its first mover advantage. Hopefully, the network will improve to a point where it becomes usable again. Cheesy

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June 15, 2024, 07:29:03 PM
 #42

From my research it is the transaction fee that is the major problem of Ethereum and the developers have not done anything to douse the issue and another one is the progress of the market price which is very slow foe some investors likeness. And I don't think because of that I will be interested to invest in Ethereum. And those who have invested in it can continue the investment. But I don't think those who started their investment late last year and early this year have made any gain from the investment.
Before venturing into any business one need to find out the advantages and disadvantages of the business and check if the disadvantages are bearable or not cause you can just jump into business knowing fully well that the disadvantages is something to compare with the advantages. Is the person planning to move forward or backward, what an saying in essence is that Etherum Gas fee is too much and their transaction always take longer time before it will arrive, just imagine a situation where someone wants to withdraw from it's ETH wallet to another where he or she can use the money and lets say the thing is very urgent will the person still be waiting for the transaction to arrive, these are things they should work on.
I wouldn't really blame them because they are one of the earliest crypto projects and that can mean that their knowledge was still pretty limited at that time but despite of it, ETH was still working smoothly before. The problem about its fees have only arisen a few years later, or when the adoption for cryptos are now higher than usual. Other cryptos were in fact like that. As we can see, the team behind ETH is still working well to improve their project.

Anyway, the speed of the transaction can also depend on the fees that we put in. ETH fees are already high nowadays in default, so we might still increase our fees if we want our transactions to get processed faster.

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June 15, 2024, 08:24:15 PM
 #43

From my research it is the transaction fee that is the major problem of Ethereum and the developers have not done anything to douse the issue and another one is the progress of the market price which is very slow foe some investors likeness. And I don't think because of that I will be interested to invest in Ethereum. And those who have invested in it can continue the investment. But I don't think those who started their investment late last year and early this year have made any gain from the investment.
Before venturing into any business one need to find out the advantages and disadvantages of the business and check if the disadvantages are bearable or not cause you can just jump into business knowing fully well that the disadvantages is something to compare with the advantages. Is the person planning to move forward or backward, what an saying in essence is that Etherum Gas fee is too much and their transaction always take longer time before it will arrive, just imagine a situation where someone wants to withdraw from it's ETH wallet to another where he or she can use the money and lets say the thing is very urgent will the person still be waiting for the transaction to arrive, these are things they should work on.
I wouldn't really blame them because they are one of the earliest crypto projects and that can mean that their knowledge was still pretty limited at that time but despite of it, ETH was still working smoothly before. The problem about its fees have only arisen a few years later, or when the adoption for cryptos are now higher than usual. Other cryptos were in fact like that. As we can see, the team behind ETH is still working well to improve their project.

Anyway, the speed of the transaction can also depend on the fees that we put in. ETH fees are already high nowadays in default, so we might still increase our fees if we want our transactions to get processed faster.

when it was still pow, we're already doing this. the same problem with BTC, miners and validators are picking transactions for profit. it's still the same problem for the other platforms despite the high TPS can be done and L2s being developed. when the value of the L2 projects goes to up as well, i think the same problem will arise.


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June 15, 2024, 11:48:27 PM
 #44

when it was still pow, we're already doing this. the same problem with BTC, miners and validators are picking transactions for profit. it's still the same problem for the other platforms despite the high TPS can be done and L2s being developed. when the value of the L2 projects goes to up as well, i think the same problem will arise.


We developed the top strategies for our trades and investments projects. ETH comes with extremely high fee and we should always watch out for our possible safety in the market. The market have its own very seasons and have become a top trends in the system. Pumping and dumping comes with different results and we should always know what's coming in and out.
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June 16, 2024, 05:26:50 AM
 #45

Ethereum's biggest problem is scalability. I'm sure everyone agrees on this. However, quality projects are still running on Ethereum. Thousands of developers are releasing their new projects on ethereum. I don't know if everyone trusts Vitalik, but everyone is staying on Ethereum despite all the problems. I think if we are going to see a change, positive or negative, they will start it and we as end users will follow them...

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June 16, 2024, 06:50:37 AM
 #46

Ethereum's biggest problem is scalability. I'm sure everyone agrees on this. However, quality projects are still running on Ethereum. Thousands of developers are releasing their new projects on ethereum. I don't know if everyone trusts Vitalik, but everyone is staying on Ethereum despite all the problems. I think if we are going to see a change, positive or negative, they will start it and we as end users will follow them...

Ethereum had an early mover advantage and today we see many projects aiming to be EVM compatible. Even if they are not on the main chain they are still part of the greater ecosystem, which benefits Ethereum’s network effects.

We are recently starting to see Solana gain more traction. Just like Tron surpassed Ethereum for stablecoin activity, we are seeing Solana’s market share growing in many areas, while ETH’s web3 dominance diminishes. The fact that Solana is very centralized doesn’t matter to the majority of users who are just trying to transact with the lowest fees possible.

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June 18, 2024, 07:28:36 PM
 #47

Ethereum's biggest problem is scalability. I'm sure everyone agrees on this. However, quality projects are still running on Ethereum. Thousands of developers are releasing their new projects on ethereum. I don't know if everyone trusts Vitalik, but everyone is staying on Ethereum despite all the problems. I think if we are going to see a change, positive or negative, they will start it and we as end users will follow them...

Scaling Blockchains has always been an issue. I'm talking about on-chain smart contracts making matters worse due to the high amount of resources they consume. If smart contracts had their own chain separate from the main ETH blockchain, there would be less network load. This means lower fees and faster confirmation times.

Unless developers plan to constantly increase ETH's transaction capacity, on-chain smart contracts will continue to plague the network for as long as it lives. Again, Avalanche's 3-layer approach is the best way to scale the Blockchain. Smart contracts (dApps) have their own chain, consensus has its own chain, and payments have their own chain. I'm certainly not a fan of ETH's L2 networks, especially when they're centralized. Only time will tell us if on-chain network fees will remain high or decline to acceptable levels. At least, we have plenty of other chains to choose from. Cheesy

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June 20, 2024, 10:25:11 AM
 #48


Ethereum's biggest problem is scalability. I'm sure everyone agrees on this. However, quality projects are still running on Ethereum. Thousands of developers are releasing their new projects on ethereum. I don't know if everyone trusts Vitalik, but everyone is staying on Ethereum despite all the problems. I think if we are going to see a change, positive or negative, they will start it and we as end users will follow them...

 it's real the plan has been drawn up
 has been taken and it has overcome Ethereum's shortcomings in overcoming existing scalability solutions. I am sure that the future will be better by maximizing current performance, which shows an optimal effort,
Due to the high adoption of the scaling schemes used to improve the performance of Ethereum which is used as infrastructure for many applications, limitations due to the initial nature of the network and knowing that it can make changes to make it better.

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June 20, 2024, 10:40:11 AM
 #49

Ethereum's biggest problem is scalability. I'm sure everyone agrees on this. However, quality projects are still running on Ethereum. Thousands of developers are releasing their new projects on ethereum. I don't know if everyone trusts Vitalik, but everyone is staying on Ethereum despite all the problems. I think if we are going to see a change, positive or negative, they will start it and we as end users will follow them...
most of dapps right now are blockchain agnostic, they don't just stick with one blockchain but gonna expand as much as they can, since if its EVM based literally what they needed to do is just doing some testing with their existing codebase and deploy it, heck, some even expand to the blockchain that doesn't rely on EVM, there has been many emergence of dapps that are omnichain, they usually utilizes bridging protocol like layerzero, considering that these bridging protocol already have abundant liquidity and good routes all the problem with bridging has been solved.
aside from that, most of the new blockchain also incentivizes existing dapps to integrate to their network so it's also the thing that causes massive dapps expansion across various blockchain so the argument that ethereum got all the quality project is little bit irelevant right now.

on the other hand, after the introduction of blobs, in my opinion, ethereum devs are taking approach to cultivate L2 for the sake of offloading complex, gas expensive computing to the L2. so the L2 is where the dapps interaction will frequently occurs and ethereum will secure those networks through blobs that significantly reduces gas cost compared to calldata for the L2 settlement (posting L2 transactions data to the L1). at least that is what I think of it.

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