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Author Topic: Solution for ETH high fees  (Read 19370 times)

Offline yurez

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Re: Solution for ETH high fees
« Reply #15 on: December 19, 2020, 09:34:29 AM »
The average price of Gas is now 30-40 Gwei, which is about $ 1.5.  For one-time transfers, this is a small price, but if you need to transfer several hundred transactions daily, then this becomes a problem.  The commission should be significantly lower, then even more projects will be launched on the Ethereum blockchain.

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Re: Solution for ETH high fees
« Reply #15 on: December 19, 2020, 09:34:29 AM »

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Re: Solution for ETH high fees
« Reply #16 on: December 19, 2020, 11:46:35 AM »
When Ethereum 2.0 starts to work in full, because the network fees are very high, you need to pay 1-2 dollars for the transfer from the wallet, and the exchanges take about $ 5 for the withdrawal of the ERC -20 tokens  >:(

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Re: Solution for ETH high fees
« Reply #17 on: December 19, 2020, 12:07:15 PM »
migrating to other blockchain is not a bad idea at all. it will surely cut some high fees but is that really a guarantee that the project will gain supporter and will eventually turn into success? We'll as we see and observe a for the past months or even these days. even with the surges of gas fees many developer still choses ethereum blockchain for a start. why? well maybe beacuse ethereum is popular among all and it has a large community supporters.. Plus the fact that ethereum has a user friendly interface that makes the newbie easily to understand and navigate.
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Re: Solution for ETH high fees
« Reply #18 on: December 19, 2020, 12:55:44 PM »
As we know, ETH 2 is not fully operational, there are several steps that need to be done by developers such as sharding that has not been done. But strangely, even though the transaction fees on the ethereum network are high, we still see new projects and users are still trading with tokens that exist on the ether network, this shows that ethereum still holds the trust of investors and traders because ethereum is the developer of the first Dapps which was popular with ICO then DeFi
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Re: Solution for ETH high fees
« Reply #19 on: December 19, 2020, 03:04:43 PM »
While the Ethereum platform is very popular and user-friendly, high gas fees are a big problem. Each transfer costs more than- $2-$10 depending on the time, which is very difficult. Many people use tron for this many times. However, I believe that with the completion of version 2.0 of Ethereum, we can get rid of the high gas fee after 2021.
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Re: Solution for ETH high fees
« Reply #20 on: December 19, 2020, 05:26:22 PM »
There is no other way except to have to wait for fees to come down, because it is impossible that transaction fees will always be high.  But if you are forced to have to make transactions when the fees are high, then what can you do?  we must be willing to lose money for these high costs.

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Re: Solution for ETH high fees
« Reply #21 on: December 19, 2020, 05:53:10 PM »
There is no other way except to have to wait for fees to come down, because it is impossible that transaction fees will always be high.  But if you are forced to have to make transactions when the fees are high, then what can you do?  we must be willing to lose money for these high costs.
Anyway, the excitement around the DeFi project has not subsided yet. This affects the bandwidth of the Ethereum network. Therefore, I believe that users are also to blame for the fact that they themselves inflate the cost of the transaction so that their transaction is processed in the first place.

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Re: Solution for ETH high fees
« Reply #21 on: December 19, 2020, 05:53:10 PM »


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Re: Solution for ETH high fees
« Reply #22 on: December 19, 2020, 06:33:32 PM »
There is no other way except to have to wait for fees to come down, because it is impossible that transaction fees will always be high.  But if you are forced to have to make transactions when the fees are high, then what can you do?  we must be willing to lose money for these high costs.

If we just wait, then nothing will happen or change. Just waiting is just like ignoring high transaction fee or showing that it is ok with you. Community should always pick on devs and remind all the time how dreadful situation is. Maybe even warn them with migrating to other blockchain (from project developers point of view).
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Re: Solution for ETH high fees
« Reply #23 on: December 19, 2020, 07:24:02 PM »
There is no other way except to have to wait for fees to come down, because it is impossible that transaction fees will always be high.  But if you are forced to have to make transactions when the fees are high, then what can you do?  we must be willing to lose money for these high costs.

Yes, when we need money, high fees are not a problem. Especially for me, who is a bounty hunter, I often experience gas fees that are almost greater than the rewards I received, but I keep doing these transactions because I need money  :(
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Re: Solution for ETH high fees
« Reply #24 on: December 19, 2020, 08:19:44 PM »
I think more and more projects are moving into ethereum because it is easy and flexible. My problem is the huge gas transaction that eats away peoples funds without them knowing how much they have loose in the name of paying for gas fees. the ethereum  owner show hasten to open ethereum verson 2.0 which we all know will solve these issues. Maybe the right option is developers to consider migrating to other blockchains with less payment issues. Like tron and ELROND.

ETH 2.0 got multiple phase. Only phase I is going on. So please be patient, they always plan big. More things are on the way. Atleast we have to wait for the phase II. As per me phase II will solve the gas problem.


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Re: Solution for ETH high fees
« Reply #26 on: December 19, 2020, 10:52:06 PM »
Miners are increasing their Hastrate to accelerate the number of congested transactions on the ethereum network, because of this, the cost of Gas is high. With ETH 2, miners will turn to be validators for every transaction on the ETH network, this happens because the developer wants to solve the current problem. this so as not to happen continuously in the future.

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Re: Solution for ETH high fees
« Reply #27 on: December 19, 2020, 10:53:11 PM »
I was also surprised after launching Eth-2 it's still high fees. Believe me i generally use doge for the high transaction fees. That's why polkadot prochain comes up to solve single chain problem issue. I think DOT will surely solve this huge problem.
« Last Edit: December 19, 2020, 11:45:46 PM by cryptopediabd »
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Re: Solution for ETH high fees
« Reply #28 on: December 20, 2020, 11:40:42 AM »
I was also surprised after launching Eth-2 it's still high fees. Believe me i generally use doge for the high transaction fees. That's why polkadot prochain comes up to solve single chain problem issue. I think DOT will surely solve this huge problem.

People say that Ethereum 2.0 is not working in full swing right now. I think that the first thing Ethereum devs care was launching staking program. Not a secret that Ethereum 2.0 was released raw. We have to wait till they do some updated to blockchain. Even though I still dont think it will majorly help.
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Re: Solution for ETH high fees
« Reply #29 on: December 20, 2020, 01:25:46 PM »
I was transferring Ethereum a few days ago and paid a commission of about $ 1.50. But this morning when transferring Ethereum, I paid $ 0.35 per transaction. At the same time, I did not manually enter any gas restrictions like last time.

 

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