is there any logical reasons or explanation as to why it is so expensive to send out etherum or altcoins on the etherum smart contract ?It's basically down to two things:
Yes, I have noticed that ETH gas fee has increased. I don't want this gas fee. The previous gas fee was good. A common thing is that if someone does 1$ transaction then 0.90$ gas fee will be charged. Would that be good? I think the gas fee should be based on the amount. But I don't know what the ETH #DevelopmentTeam thinks. If someone does transaction 100$ transaction, his gas fee will be higher. On the other hand, if someone makes a $5 transaction. Then there should be a difference between these two transactions.Not only has Ethereum's gas fee increased, but Bitcoin's gas fee has also increased several times. The rate of this gas fee is higher depending on the exchange. I think like you, the gas fee should be lower than before and it should be based on quantity. Hopefully the concerned authorities will consider the matter after hearing our frustration.
This is indeed a ridiculous transaction fee, i believe Ethereum 2.0 is suppose to fix this issue but if Vitalik doesn't solve this gas fee problem, alot of users will abandon Ethereum as nobody want to pay $2 for a $10 transactionI don't think ethereum is the only one that makes the gas high, I think almost all altcoins and bitcoins also happen the same. because it just so happens that the current price of ethereum is quite high so that the impact is seen if it is valued at $ it will feel high.
AFAIK, high fee Gas doesn't happen at anytime. It may happen because the traffic is busy and we must use more Gas to send ETH. But I think it is no problem if the transaction can be faster.But transaction aren't faster either. Imagine spending $3 for sending 10 USDT on Ethereum network, that's bullshit.
When the coin price is high the gas fee is also high becasue it depend on the market and also the increasing of coin value gas fee is increasing day by day.Yesterday, I gave around $5 gas fee just for $20 token transfer. That's kind of ridiculous and I don't know how long i can handle it.
Yesterday, I gave around $5 gas fee just for $20 token transfer. That's kind of ridiculous and I don't know how long i can handle it.This is very detrimental, sending only a little but expensive. is there no real solution from ETH at the moment?
This is not advisable, if you are going to trade and do transaction make sure that your trades are high volume or quantities. Its not advisable to do it with small amount with a huge fee its only you will suffered from the consequence of paying huge.When the coin price is high the gas fee is also high becasue it depend on the market and also the increasing of coin value gas fee is increasing day by day.Yesterday, I gave around $5 gas fee just for $20 token transfer. That's kind of ridiculous and I don't know how long i can handle it.
Uniswap is the realm culprit in this case, wish to get everything as normal as before.
Do what you think the right one. You can do nothing while Ethereum gas fee is high or do transaction now even it is high. It is much better to pay $5 for $20 than pay $0 for shitcoins.Yesterday, I gave around $5 gas fee just for $20 token transfer. That's kind of ridiculous and I don't know how long i can handle it.This is very detrimental, sending only a little but expensive. is there no real solution from ETH at the moment?
Right now, there are a lot of bounty hunters to traders who complain about the current high gas fees, I hope there will be a reduction in gas fees in the near future or there are other alternatives besides using ETH.the possibility to use anything other than ethereum will be difficult to materialize because ethereum is already the basis for exchanging almost all new altcoins, the possibility is that bitcoin can of course be even more expensive. but we believe there has been a change, even though it is not very satisfying, but ethereum will improve even though it takes time we ourselves do not know why this sudden change occurred.
The DeFi project brought lots of changes, high gas prices, increased investor confidence in cryptocurrencies keeping the ethereum network busy with a solid number of transaction order confirmations.
I think Bitcoin will still be my current choice for transactions in a large amount and it doesn't take days like it did on the ethereum blockchain.
That may be fine for big investors.But I think it has become a kind of oppression for the Hunters.I mean the Hunters.It should be done according to the fee amount.I think it has been difficult for both the investor and the bounty hunter as the fee for etherium gas has increased several times unexpectedly lately. Hopefully this problem will be fixed in ETH 2.0 or at least it will be reduced and at the same time the amount of fee should be commensurate with the amount of currency.
For this reason many new projects are coming to develop with TRC20 or TRON network.This is proof that something that goes against the wishes of many people will definitely affect like this.