Solution for ETH high fees

[eldial]

Honestly there is a ways on how Ethereum solutions high fees because it can destroy to all bounty hunters and investors  if the ETH will continued high fees but for me it is not a good image right away how comes the transactions will goes into gas fees and I think it will change into a small fees for the people joined in cryptocurrencies.

[marcsymons]

At this moment, the price of Ethereum coins has fallen to below $2K, therefore the price per transaction will be cheap. The most solution while waiting for ETH 2.0 to come is when sending Ethereum, there is a function of self-setting the gas price therefore we could save more gas when we set it to low but not the lowest otherwise your coins may get stuck in the network.

[Alter]

ETH gas fees aren't expensive anymore because the people who are transferring their ERC20 tokens are not as many as before. Just check again how much the price of ETH or ERC20 gas fees is. It is only about 16 Gwei and usually the price of ETH or ERC20 gas fees is below 20 Gwei currently. There is no need for a solution for ETH/ERC20 gas fees now, there is no problem with the price.

[Freemind]

ETH gas fees aren't expensive anymore because the people who are transferring their ERC20 tokens are not as many as before. Just check again how much the price of ETH or ERC20 gas fees is. It is only about 16 Gwei and usually the price of ETH or ERC20 gas fees is below 20 Gwei currently. There is no need for a solution for ETH/ERC20 gas fees now, there is no problem with the price.

You're right, but only partly from my point of view. Right now that problem does not exist, but if we were in a bull run it would be a problem again, a solution is necessary. The solution to this problem is called "London", a hard fork that will be integrated into the Ethereum network during the month of August, after integrating the hard fork, the problem will be resolved permanently.

[MiaAndTheMarbles]

There are many ethereum scaling solutions existing already.
I personally like Polygon/Matic with its plasma child chain.
And there are other layer 2 solutions coming, like Optimism with its rollups tech.

All these will enable lower transaction costs, as they are not happening directly on mainnet.
At the same time they will help reduce congestion on mainnet, as existing and new projects can use them and thus cool down gas prices a bit.

[Freemind]

The definitive solution (London hard fork) will be implemented on the Ethereum network between August 3 and 5. That's what Tim Beiko, an Ethereum developer, has said on his blog. If you want more information you can find it at this link: https://blog.ethereum.org/2021/07/15/london-mainnet-announcement/

Starting August 5, transaction fees will be much cheaper, according to information from developers. Hope to see if it really works as well as they say.

[MiaAndTheMarbles]

The definitive solution (London hard fork) will be implemented on the Ethereum network between August 3 and 5. That's what Tim Beiko, an Ethereum developer, has said on his blog. If you want more information you can find it at this link: https://blog.ethereum.org/2021/07/15/london-mainnet-announcement/ [nofollow]

Starting August 5, transaction fees will be much cheaper, according to information from developers. Hope to see if it really works as well as they say.

thanks for the link.
I'm looking forward to this too. But I'm a little skeptical about the magnitude of its impact.
It sure will improve things, but for the definitive solution we still will have to wait for Ethereum 2.0 (for which London is helping paving the way).

[KryptoBull]

Recently, with the recovery of the market, gas fees increased again after a period of decrease to 10 gwei like last month. Hopefully the August update will change this and bring gas back to 3-5 gwei. DeFi is the main driver of the market, so I hope Ethereum doesn't miss this bull run.

[Freemind]

thanks for the link.
I'm looking forward to this too. But I'm a little skeptical about the magnitude of its impact.
It sure will improve things, but for the definitive solution we still will have to wait for Ethereum 2.0 (for which London is helping paving the way).

You welcome. I understand you, I am not sure it is a "magic" solution as we have been told in many places, but at least I think it is nice to see how they advance in the search for solutions. There are only a few days left until the block that will load the hard fork arrives, so we can really discuss what it does and if it really works or not.

[sacrotic]

There is no instant and easy solution for this one, many things already try but all will answered by eth developer itself. We can mention about doing transaction in low fees hour, use stable coin, change network or wait until 2.0 release which one better is up to you. I choose to wait and playing asset in btc, swap into eth for saving, this move will do because eth developer still try with 2.0. Eth still have chance to grow up so saving with btc is my final answer.

[Freemind]

Today "London" is integrated into the Ethereum chain. What I have not been able to find anywhere is whether the alleged improvements will be noticed immediately or will take some time. From what I see at the moment everything is the same, we may have to wait a few hours, but I'm not sure. If anyone has more information, I'd appreciate it if we could share it here, to be able to comment on the news and how it works for us.

[MiaAndTheMarbles]

it hasn't happened yet. Will happin in ~50min

Count down: https://ethernodes.org/london [nofollow]

[Bobcrypto]

I think ethereum gas transaction fees started this year, and it was because of the bull market we have been experienccing. The gas fee helped in the rise of BSC (binance smart chain), which is good to decongest the ethereum network and bring effective networks competition and further development globally.
Again, if other smart chain networks can come up stronger to competing with ethereum platform, it will heip to reduce gas fees from ethereum network because many will have alternative to launch their projects.

[MrSpasybo]

The London hardfork took place but the gas still did not decrease, as the market became more active and the number of transactions coming from the NFT was causing the Ethereum network to become severely congested. Hopefully the upcoming layer-2 solutions will be adopted and enable Ethereum's speed up to 1K-10K tps.

[Freemind]

It seems that "London" does not improve or regulate transaction fees as we expected. I'm not sure if the community expected much from this hard fork or the developers haven't clearly explained what the hard fork should do after entering the mainnet, but it is clear that it does not affect the transaction fees. We may have to wait longer, but it is clear that when the price of Ethereum rises again, the price of transaction fees will also go up and that will cause more users to search for cheaper chains every day.