Transaction fees: the biggest problem for crypto community in future?

[MrSpasybo]

I became a reluctant fan of EtherScan>Ethereum Gas Tracker after realizing that I often couldn't afford to pay gas fees.
Ethereum made a good-move today to appease its users with funny icons for April 1st.

However, the gas charge figures are still as frightening as they used to be. Obviously people don't take the time to joke around, they are still very focused on Ethereum ecosystem.

Currently, other popular blockchains are around 300 tps, despite having reduced the number of nodes to 21, a serious breach of blockchain's decentralization principle. The transaction fees of those blockchains are of course much lower than that of Ethereum, but in the future, as user demand grows, we all hear projects saying they want to serve millions of users, 300tps will be not enough for crypto market. Layer-2 & shardings are still just on theory, we haven't been able to experience them yet, which means we continue to suffer too high transaction fees.

I wish gas on EtherScan was just a joke on April 1st.

Do you think transaction fees will be one of the biggest problems for the crypto community in the future? Is 100k tps enough for  market demand?

[Malam90]

Ethereum gas fees are very high but this isn't problem for big amount holders, traders. Just problem for little users, bounty hunters etc. A trader who swaps $10k from Uniswap, can't mind to pay $30 but small users who want to make transaction from $30-$100, it will be a throat in thorns. But BSC is taking the chance hence and many projects are migrating to BSC.

[MrSpasybo]

Ethereum gas fees are very high but this isn't problem for big amount holders, traders. Just problem for little users, bounty hunters etc. A trader who swaps $10k from Uniswap, can't mind to pay $30 but small users who want to make transaction from $30-$100, it will be a throat in thorns. But BSC is taking the chance hence and many projects are migrating to BSC.

Really sad for Ether users, the liquidity of many people is almost zero when gas is more expensive than the token value. Our ALTS forum itself is thinking of integrating a token on BSC, and I believe its transaction volume will be better than the token on Ether.
As CZ said: currently only the rich can use Ether, but they will soon become poor because of transaction fees ^^

[Jaephoenix]

Something is happening already. Vitalik Buterin and his crew are getting to work with EIP-1559 which is supposed to dump gas prices. But Ethereum miners are going against it

[Freemind]

@Jaephoenix Ethereum miners will go against anything or person that threatens their status, I don't even want to imagine what will happen when ETH 2.0 is finally released and Ethereum goes PoS... I also think that transaction fees are a big problem for the community, but I also think that by doing the right things you can avoid these problems, whether it's looking for alternatives or using cross chains, in fact cross chains are gaining more and more popularity and maybe in the not too distant future will become a standard.

[Ferki]

Something is happening already. Vitalik Buterin and his crew are getting to work with EIP-1559 which is supposed to dump gas prices. But Ethereum miners are going against it

The uprising is yesterday's news, the miners will be rewarded

[syedrasool2011]

Yes bro now days fees to much for that I cant trade my coins in uniswap problem fees I just us binance chain I don't think so ethereum will be good it will be high more and more bsc is good now days.

[iloveyobit]

yes i think transaction high fees will be a big problem for crypto in the future,its already a big problem but it will be bigger in the future if new money comes to the field and eth team didnt find out a solution because if everyone who want to send 10$ need to pay 70$ as a fees thats not gonna work unfortunately..

[IyemRoker]

It is very true, for the transaction of each of these coins it will really be a heavy burden in the future when the price of the coin becomes expensive.
I see now for SafePal coin transactions using the bep20 blockchain if the withdrawal from Binance exchange is around 0.8 Safepal.
Imagine, if in the future the price of Safepal is around 100 USD then for one WD from Binance it will be around 80 USD, bad lol .

[zilzylian]

It is very true, for the transaction of each of these coins it will really be a heavy burden in the future when the price of the coin becomes expensive.
I see now for SafePal coin transactions using the bep20 blockchain if the withdrawal from Binance exchange is around 0.8 Safepal.
Imagine, if in the future the price of Safepal is around 100 USD then for one WD from Binance it will be around 80 USD, bad lol .

Do you mean that the fees for withdrawing the Bep20 token from Binance will also go up as it did for ethereum?
I hope that doesn't happen because yesterday I made a withdrawal and only needed 0.001 BNB, in my opinion it's not that expensive.

[ice18]

In the future, I think no, they already upgrading to 2.0 so in the future fees will be hopefully reduced since they are using different consensus in eth 2.0 and its already tested many tokens/coin in POS has really cheap transaction fees unlike in current POW like btc/eth. 

[Rollinginthedeep]

I believe that it's the problem already considering the gas fees for eth. This is why most companies like this are already expanding their projects into ETH 2.0, which may solve those issues regarding fees.

[Willitivity1]

I stopped being a big fan of Ethereum since the high gas fee mess, how can they steal $100 for just one transaction, that's wild and insane I can't believe so many people still support Ethereum high gas fees, I think right now the transactions on eth network are meant for the rich alone,if they keep this up I doubt if retail traders will still be able to use it.

[MishaSER]

I'm not so angry about such commissions anymore, since the market offers various options, TRX BSC AVAX. Many bounty managers offer an alternative and I like that. Hopefully in the future we will have even more options and choices.

[robert20]

It is no2 a big problem for users like us who only transact small funds. We have to sometime pay more money for gas fees than our actual fund.
But i hope that with the ETH 2.0 update this problem will be solved and we will be able to use ETH blockchain like before.