What’s your take on Ethereum ecosystem ?

[Firstfrost]

Lately, I’ve been exploring the Ethereum ecosystem, the projects, the upgrade effect on the ecosystem and some other aspects. Honestly, i have to admit there’s been positive impacts but i just hope we get to see more uptrend movement in ETH price soon.

I also see some of its projects with solid utility like TANSSI, Eigenlayer and Arbitrum have gained good traction. Tanssi leveraging Ethereum-grade security to provide a safe infrastructure protocol that enables fast, automated deployment of decentralized appchains is the latest one on the list. Arbitrum and Eigenlayer are also doing their thing and i’ve also noticed there are mixed sentiments about the Pectra upgrade but if we look more into Ethereum projects we’d definitely see there is a lot to unpack. Personally, i still think Ethereum would hit that mark sooner than later. What’s your take ?

[Josefjix]

Yeah, Ethereum has been the big boys play type of game that requires some certain level of reputable team to deploy on it. If you've been in the system you'll definitely noticed that projects built on Ethereum had been very classic and comes with different style of development. Arbitrum and Optimism has been those projects I've been keeping an eye on to bring lots of liquidity into the Ethereum ecosystem.

Eigenlayer and the rest are pretty new though and I don't know how much volume they must have accumulated and expanded to affect the price of Ethereum positively.

[AngelB]

Do upgrades to the ecosystem really matter much when the fees are so high most people cannot affordably use ETH or any of the tokens?

[luckyspirit]

I don't like Ethereum, it has become very centralized and they developed all these L2s to take money instead of solving scaling on L1. Solana is so much better and faster, the only advantage Ethereum has is that it is older. But that advantage won't last because it is not as good as Bitcoin, so this will not help it retain its lead over other altcoins.

Do upgrades to the ecosystem really matter much when the fees are so high most people cannot affordably use ETH or any of the tokens?

They don't. Sometimes they lower fees, but it is very little and too late. Many people got hurt for using ETH.

[Tune_In]

luckyspirit is correct when pointing out how much better the Solana platform is than ETH, imho. The future for the Ethereum ecosystem could be compared to the USA currently trying to maintain their grip on world power, it's slipping away and many people find this obvious.

I don't like Ethereum, it has become very centralized and they developed all these L2s to take money instead of solving scaling on L1. Solana is so much better and faster, the only advantage Ethereum has is that it is older. But that advantage won't last because it is not as good as Bitcoin, so this will not help it retain its lead over other altcoins.

Do upgrades to the ecosystem really matter much when the fees are so high most people cannot affordably use ETH or any of the tokens?

They don't. Sometimes they lower fees, but it is very little and too late. Many people got hurt for using ETH.

[TastyChillySauce00]

Do upgrades to the ecosystem really matter much when the fees are so high most people cannot affordably use ETH or any of the tokens?

So far there's no significant upgrade that can solve the fee, their only solution is to use rollups on the layer 2.
If you see the average gas prices on etherscan you'd find out occasionally the gas spiked to 10 - 20 gwei which is very bad.

Personally from my opinion, beside UX improvement there's nothing significant with the upgrade.

[luckyspirit]

luckyspirit is correct when pointing out how much better the Solana platform is than ETH, imho. The future for the Ethereum ecosystem could be compared to the USA currently trying to maintain their grip on world power, it's slipping away and many people find this obvious.

Thank you, I try to think about it simply. I remember when naive folk were celbrating the creation of all those bridges for ETH L2s, but I always wondered. Why would someone bother with all of that, learning and using it when I can simply go to Solana. Faster, cheaper and there is no complexity. I can never be lost on Solana as you can on ETH. People who use crypto all the time think that it is easy but it is not. Regular folk that have tried these L2s often get stuck not even knowing on which L2 they are stuck on. It is terrible.

[zeuner]

Promising technology that somehow got on the wrong track. Much of the early bird advantage got lost through centralization.

[luckyspirit]

Promising technology that somehow got on the wrong track. Much of the early bird advantage got lost through centralization.

That's exactly what happened. Centralized holding, centralized governance and now it is a disaster. They let the L2 field spawn because everyone is making money on new private sales at the loss of investors. Now they are stuck. If they scale too much L1 Ethereum, then most L2s will be useless and die off.

[Firstfrost]

Yeah, Ethereum has been the big boys play type of game that requires some certain level of reputable team to deploy on it. If you've been in the system you'll definitely noticed that projects built on Ethereum had been very classic and comes with different style of development. Arbitrum and Optimism has been those projects I've been keeping an eye on to bring lots of liquidity into the Ethereum ecosystem.

Eigenlayer and the rest are pretty new though and I don't know how much volume they must have accumulated and expanded to affect the price of Ethereum positively.

You’re right…Ethereum has always sets a high standard, it’s not the kind of network just any random project without solid utility can launch on. That’s why we see projects built on Ethereum having a unique edge in terms of tech and execution.

Also, Arbitrum and Optimism have been major players in the ecosystem and no doubt Eigenlayer, is also pulling volume as well. As for Tanssi, i’m still watching it coz it listed recently but i love the concept behind it. It’s certain adoption would keep growing and i think all these projects would play a big role in further increasing Ethereum’s value over time. Time would tell, let’s see how it plays out.

[Yaunfitda]

Do upgrades to the ecosystem really matter much when the fees are so high most people cannot affordably use ETH or any of the tokens?

Good question, for me, upgrade is not worth anything if investors are complaining of the high gas fees. And we all know that ETH developers says that they will have a lot of iterations in the pipeline way back 2019, and they said that they will resolved this issues on high gas fees. But moving forward, with many development and changing a lot, still though it's one of the biggest issues and we don't know if it will be solved or not. And most likely this is the reason why there are many investors who didn't put their money on ETH this cycle and would rather go on other projects like SOL or even BNB. And with that, the high fees might have killed ETH for now and unless they really resolved it, I don't think that we will see a big gains in their current price.

[Nexta]

I feel you on that. Ethereum’s been building hard behind the scenes, and projects like Tanssi, Eigenlayer, and Arbitrum are showing real use cases. Tanssi especially caught my eye lately with how it's making appchain deployment super easy and secure. I actually spotted it first on Bitget, and with the kind of support it gives new projects ,like the recent PoolX and CandyBomb events, it’s clear they believe in its potential too. ETH might just surprise us sooner than we think.

[luckyspirit]

I feel you on that. Ethereum’s been building hard behind the scenes, and projects like Tanssi, Eigenlayer, and Arbitrum are showing real use cases. Tanssi especially caught my eye lately with how it's making appchain deployment super easy and secure. I actually spotted it first on Bitget, and with the kind of support it gives new projects ,like the recent PoolX and CandyBomb events, it’s clear they believe in its potential too. ETH might just surprise us sooner than we think.

New account just to promote those projects and say good things about Ethereum? Everything you have listed is trash btw. 

[Frankolala]

Ethereum is the second oldest coin and that's why it's still the second highest in price. However, Ethereum have failed to meet up with its gradual price increase overtime, because of the high gas fee which has made people dump Ethereum for a similar coin with lower gas fee. Whatever shitcoin that is produced on Ethereum network remains a shitcoin and I haven't seen anything special about the upgrade of the network.

[Akbarkoe]

Ethereum is the second oldest coin and that's why it's still the second highest in price. However, Ethereum have failed to meet up with its gradual price increase overtime, because of the high gas fee which has made people dump Ethereum for a similar coin with lower gas fee. Whatever shitcoin that is produced on Ethereum network remains a shitcoin and I haven't seen anything special about the upgrade of the network.

It's not just about gas fees, but also about scalability. When they have a large number of orders, they become congested and increase fees irrationally. This is frustrating for many users, especially when the network is heavily hyped for a project that makes the network busy.

L2 solutions seem to be merely alternatives and are merely additional tools. Most L2s that have been built appear to be very weak and have little competitiveness with other networks like Solana and SUI, as well as other new challengers. Furthermore, Ethereum's management has previously experienced some issues, resulting in a loss of trust from the community. Hopefully, Vitalik's proposed upgrade will be useful.

It's important to remember that making money in the Ethereum ecosystem involves exploiting yield, restaking, and restaking, and it continues like this, until at some point you become exhausted and prefer to hold Bitcoin.

[TastyChillySauce00]

It's not just about gas fees, but also about scalability. When they have a large number of orders, they become congested and increase fees irrationally. This is frustrating for many users, especially when the network is heavily hyped for a project that makes the network busy.

L2 solutions seem to be merely alternatives and are merely additional tools. Most L2s that have been built appear to be very weak and have little competitiveness with other networks like Solana and SUI, as well as other new challengers. Furthermore, Ethereum's management has previously experienced some issues, resulting in a loss of trust from the community. Hopefully, Vitalik's proposed upgrade will be useful.

It's important to remember that making money in the Ethereum ecosystem involves exploiting yield, restaking, and restaking, and it continues like this, until at some point you become exhausted and prefer to hold Bitcoin.

Unfortunately it seems ETH will still prioritize L2 roll ups and so far there's no promising solution to the scalability problem on the L1.
Even recent upgrade is all about improving UX and making L2 better.

I guess we won't ever see ETH mainnet having fee as cheap as solana and the others.

[btcnbegun]

Ethereum is a sell. Looking up its price is not even close to its previous all time high. That means leaving the ecosystem would be wiser.

[luckyspirit]

Unfortunately it seems ETH will still prioritize L2 roll ups and so far there's no promising solution to the scalability problem on the L1.
Even recent upgrade is all about improving UX and making L2 better.

I guess we won't ever see ETH mainnet having fee as cheap as solana and the others.

They are making a big mistakes but the reason they are doing this is because they are corrupted by money. Money is being given by L2 founders to ETH foundation and developers, so a bribe to keep the L1 broken. Eventually I hope this will be its downfall, as that is what ETH deserves.

Ethereum is a sell. Looking up its price is not even close to its previous all time high. That means leaving the ecosystem would be wiser.

Its price performance is terrible for many years.

[zeuner]

Promising technology that somehow got on the wrong track. Much of the early bird advantage got lost through centralization.

That's exactly what happened. Centralized holding, centralized governance and now it is a disaster. They let the L2 field spawn because everyone is making money on new private sales at the loss of investors. Now they are stuck. If they scale too much L1 Ethereum, then most L2s will be useless and die off.

Still, much has been built around the technology, which would be a pain to port. Just waiting whether someone will fork it and bring back PoW or something different for the sake of better decentralization, ultimately resilience.