Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: masterrex on February 13, 2021, 12:10:53 PM
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Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.
Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!
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I think they will fix it soon. Because this problem cannot continue for so long, they will lose their holders so soon. This is my personal opinion. But I still respect Ethereum.
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I think they will fix it soon. Because this problem cannot continue for so long, they will lose their holders so soon. This is my personal opinion. But I still respect Ethereum.
Actually, Vitalik Buterin is already said about here position or proposal to the current fee problem on Ethereum, and he mentioned the EIP 2929?
"EIP 2929 and state size management are important to work paving the way for making high gas limits (and so lower fees) more safe and sustainable." that was Vitalik Buterin says but honestly I doubt it because other opinion says that the proposal might bring negative effect on the miner's side, in that case, I believe this fee problem might stay longer than we expected.
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The solution we would expect from Ethereum is better scalability at ETH2.0 thanks to Shardings or some other solution. As for Bitcoin: I think for the time being we have to accept the high costs.
Bitcoin will still be successful because it says Crypto KING, but Ethereum is under threat from BSC, Cardano or TRON. If the Ethereum #DevelopmentTeam is unable to accelerate development of ETH2.0, they will have to accept that they will no longer be the leading blockchain platform.
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Maybe around me, I also feel transactions that mean expensive fees, yes I also don't understand why it can be expensive, of course with just patience to face everything and be good.
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You're right, everyone realizes that ETH and BTC fees are insane these days. Even publish0x.com stopped withdrawals due to high ETH fees. If this continues I am sure that people will abandon traditional cryptocurrency systems like this, and switch to a faster and cheaper one, like Tron.
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I think yes there are many alternatives on the market. BSC is a good alternative but there are other projects that are doing this for example Avalanche has recently launched a working product. There is also a Cartesi project that wants to solve the problem with transactions on the Ethereum network.
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I think they will fix it soon. Because this problem cannot continue for so long, they will lose their holders so soon. This is my personal opinion. But I still respect Ethereum.
Actually, Vitalik Buterin is already said about here position or proposal to the current fee problem on Ethereum, and he mentioned the EIP 2929?
"EIP 2929 and state size management are important to work paving the way for making high gas limits (and so lower fees) more safe and sustainable." that was Vitalik Buterin says but honestly I doubt it because other opinion says that the proposal might bring negative effect on the miner's side, in that case, I believe this fee problem might stay longer than we expected.
I also saw the EIP-1884 and EIP -2930 in this article: https://eips.ethereum.org/EIPS/eip-2929 but those are still under development and in test state.
I think the developers will focus on the ethereum 2.0 network to reduce exorbitant gas costs, but we only need to wait a little while the beacon chain is active and can be used properly without any problems or failures for each transaction.
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Yes the rising price of BTC and ETH making us crazy. Waiting for a big dump in the crypto industry to get a chance to invest. Now BTC and ETH fees are going out of control leading to small transaction prohibited.
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Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.
A thing to noted about BSC that its transaction numbers are lower than ETH more importantly the coin that is used to pay the fee the price of that coin is much much lower than ETH if its get the popularity as ETH and if its price goes ove 1k than the gas fee will also increase like we see in ETH
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For those who send amounts from $ 1000, this is not yet a big problem, but for a simple user or for a bounty campaign participant, this is a huge problem. This should be resolved in the near future, otherwise new projects will be launched on other blockchains.
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I fell in long term Binance chain will give a tough fight to Ethereum as many devs are now attracting towards Binance smart chain the reason behind this Ethereum high gas fee but we can not say Btc and Eth will fail as you know the price of both coins is quite high at the moment so according to the price gas fee is high but it's not affordable for small traders or investors. Certainly, small traders will look for then Tron or Binance chain based coins to trade to avoid paying a high fee.
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^ ethereum and Bitcoin existed long before Tron and Binance existed, so it was very reasonable that the fees were not thought of by the early development. for Bitcoin the fee will not be renewable again but for ethereum it still can, hope eth 2.0 will make the erc20 gas fee cheaper.
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I have seen a few of 1.1 Eth that is close to 2000$ how they come up with such fee I still don't understand. This is a pure failure from the Eth btc network. Thanks to BSc Heco chains things are picking up
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The transaction fees, without a doubt, one of the darkest and most criticized points of the Ethereum network, and with good reason. Unfortunately this problem is causing many projects to migrate to other blockchains so as not to end bankruptcy. It's a shame that this happens just as the value of Ethereum keeps getting new ATHs in no time, we will see what happens with ETH 2.0.
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Of course, I completely agree with you, so I try to make cryptocurrency transactions through the Ethereum blockhain as little as possible, because it is too expensive, but there are times when you have to make transfers and need spend a lot of money on transfer fees and I don't think this problem will be solved soon.
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Absolutely, it is and it is one of the main reasons why crypto is still not everywhere but if we look at it positively it means that there is intense growth in demand and use of these coins causing congestion in network so fee is high, this also indicates we are in a bullish market and price of these two assets is set to moon.
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My fearless opinion is that ethereum should better do something about its blockchain fees and they should do it really fast if not, they are gonna lose a lot of users including myself, am highly pissed with how much i lost recently on ethereum fees and have sworn to stay away from anything or any coin or token that will require me spending eth for gas, if something is not done about the fees, its going to affect alot of erc20 tokens cus no one would want to buy them cus of high fees, and this might force them to move to other chains.
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I think they will fix it soon. Because this problem cannot continue for so long, they will lose their holders so soon. This is my personal opinion. But I still respect Ethereum.
Lol, don't be deceived, they will keep saying soon and you will fund yourself paying high transaction fee for years, there is no need to be waiting for one network to get their act together when others which are much cheaper are available, it doesn't make sense, blockchain is about exploring new opportunities and not be stuck in one place.
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i can feel the rage and anger burning deep inside you but there is nothing you and i can do about it. currently. ethereum is build for the rich and whales that can move millions of dollars of assets and happily pay 200 to 300usd as gas fees and feel nothing wrong about it. i am sure that some whales are comfortable with this huge fees and wish that it has no ends.
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there are lots of traders who complain a little because the transaction fees on ethereum and bitcoin are quite high, this needs to be fixed in terms of transaction fees fear that many will move to other coins that have cheaper transaction fees and faster confirmation.
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I think they will fix it soon. Because this problem cannot continue for so long, they will lose their holders so soon. This is my personal opinion. But I still respect Ethereum.
Make sense and im one of the investor that stop invest in Bitcoin and Ethereum. I also stop buy the ERC20 token. I decide to invest for long term but to withdraw from exchanges is not worth it because of the fee. My alternative investment is TRX and trx token, BCS and token and other coins that provides cheap gas fee
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I am aware of the high transaction fees in crypto currently, especially for Bitcoin and Ethereum. However, it doesn't mean a failure, the expensive fees should be fixed soon. People must feel uncomfortable if the expensive fees for the transactions to continue for a long time. So, don't worry, mate.
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I am aware of the high transaction fees in crypto currently, especially for Bitcoin and Ethereum. However, it doesn't mean a failure, the expensive fees should be fixed soon. People must feel uncomfortable if the expensive fees for the transactions to continue for a long time. So, don't worry, mate.
If you think doesn't mean a failure, then what?? You know why people in crypto? because of financial freedom. Do you think financial freedom in Bitcoin and Ethereum? You should choose another coin.. and I'm already moving on from both and I will come back after they fix it
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Actually, the fees are quite normal if compared with the price of every coin or token right now. Will you still say expensive when the fee is around 3$ when the price of BTC is only $10k. And now, for example, the fee is around 7$ when the price of BTC is 5 times higher than $10k, that is fair
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Actually, the fees are quite normal if compared with the price of every coin or token right now. Will you still say expensive when the fee is around 3$ when the price of BTC is only $10k. And now, for example, the fee is around 7$ when the price of BTC is 5 times higher than $10k, that is fair
Do you think people always sent 1BTC, sometimes we want to send 0,05, 0,005. 0.0005.
What about poor people?? Are they have $10K, maybe they only have $100 or $1000 and the fee is robbing him, what about many bounty hunters who wants to sell their token for less than $100 but the fee is $10+?? worth it??
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I don't think its a sign of failure, after all the blockchain itself is not doing badly both financially and technologically. The plan of action is to source for ideas to reduce the irritatingly high transaction fees. Like Binance Smart Chain is doing
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High excessive Ethereum and bitcoin network fees which affected badly . We can't transfer any ERC 20 based assets due to high excessive amounts of Ethereum network fees. Today I already transferred my ERC 20 assets with fee's of 43 dollars. That a lots of fees for me .
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With high transaction fees, this indeed makes many players feel uneasy. High prices result in higher transaction costs as well. This is very influential for a small player like me. really unsettling.
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That is the biggest problem of all, for the whales the fees will be important, but it will be a minor problem, for the small fish like me, the transaction fees are insane and it prevents us from being able to improve in trade and in making profits. And I really hope that with the launch of ETH 2.0 this will be fixed, because as the value of Ethereum keeps going up and the fees keep going up as well, I don't know where we will go.
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This is true, where transaction fees are now a serious problem in crypto. We know that the increasing price of Bitcoin and ethereum makes their transaction fees also more expensive.
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I completely agree with the author, I have not used the ETH network for a very long time, although I used to make transactions every day when the commissions were 0.5¢ now I will probably abandon this network and switch to analogues, because it is impossible to trade on DEX exchanges with such horse commissions.
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Both bitcoin and ethereum are not recommendable as a payment method nor transferring funds but as an investments and investment for the big whales and not for small time like us now. The fee is really killing for the small time traders and investors. I'm sure many new projects will not make an ERC20 token now, they will go to the other platforms which they can make token.
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i totally agree with you and im pissed from eth transaction fees either in the centralized exchange or wallets like my ether wallet , im trying to send 45$ of a token and i have to pay more than 10$ as fees but the problem that the transaction would be done anyway, that sucks .
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This is sad news, I honestly don't like transactions with bitcoin or ethereum but most DeFi projects use this ecosystem. People seem to only use both of them for invest because the price continues to rise.
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Cryptocurrency digital currency is supposed to provide the best service to its users, Hasn't it been said from the start that this cryptocurrency is better than other currencies with the excess of cheap and faster transaction fees?
But seeing this Ethereum phenomenon, really makes a lot of people disappointed, I myself recently experienced this annoyance with Ethereum. How could I not, I have to pay expensive GAS ETH just to send a small ERC-20 token. In my opinion, at this rate Ethereum will be abandoned.
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I don't think high transaction fees are a sign of failure, I think if it is due to lack of foresight (perhaps nobody could foresee something like that) from the moment of Ethereum's genesis block. The truth is that until the price of Ethereum had not reached the current price, the transaction fees had not been that high, to the point of not being able to send small amounts to avoid spending more.
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Transaction fees of sending and swapping on an exchange like Uniswap are very costly, this situation is not really a failure but because the increasing number of users and rights is good for the sustainability of blockchain technology, the denser the network, the more miners will be and we will see they will increase the hashrate to speed things up. Tx.
Switching to another blockchain is indeed a good choice, it's all up to the developers and I will use the blockchain from the list above which is a great solution if the developer wants low gas fees
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Transaction fees of sending and swapping on an exchange like Uniswap are very costly, this situation is not really a failure but because the increasing number of users and rights is good for the sustainability of blockchain technology, the denser the network, the more miners will be and we will see they will increase the hashrate to speed things up. Tx.
Switching to another blockchain is indeed a good choice, it's all up to the developers and I will use the blockchain from the list above which is a great solution if the developer wants low gas fees
Everyone has their own views and for me, I agree with OP, it's a failure. I want to ask you, you want to pay around $45-100 as fee to trading in uniswap??
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Yeah, actually one of the reasons why the cryptocurrency is created is to decrease the transaction fees that are commonly high enough done by bank system in theworld. however, right now, the transaction fee moreover in ERC20 ethereum is so damn high. It can reach more than $10 for every single transaction with low speed.
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The transaction fees of both can be expensive as these two coins are expensive and difficult to contain for each transaction.
I am waiting for this moment to drop in price but it is impossible for now if Bitcoin and Ethereum price dump quickly.
It would be nice to send each coin using TRON which is equivalent to the value of Bitcoin and Ethereum so that it is not too expensive for transaction fees.
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Fee are simply huge, which do not give the opportunity to buy any coin in small quantities and are designed for large investors and traders who turn up large capitals and for them to pay 100-200 dollars for a commission is almost nothing. But small traders are now left behind and just sit, they are waiting for this period to end, but so far this is not expected.
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The price of Bitcoin and Ethereum will increase a lot. You have to wait patiently. Every cryptocurrency situation in the market is going to be much better. The condition of each cryptocurrency will improve a lot in the market. Especially the cryptocurrencies at the top level. So the condition of other currencies including Bitcoin will be better. The condition of ETH platform based currencies will also be better.
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I have felt that when I sent a token that was erc20 and then the delivery failed and when it failed, it was charged a fairly expensive delivery fee, very sorry and sad but what can I do, this erc20 has many advantages over other cryptocurrencies.
I don't understand what happened to Ethereum because it seems like this serious problem has no solution even though there is Ethereum 2.0 but it doesn't have any positive effects at all.
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A lot depends on what is expensive. Paying 20-40 us dollars for a transaction is a lot for sure, but take a look on cryptocurrency price. It cost more than usually. Paying 40 USD for a transaction, when Bitcoin cost almost 50k I think is normal. Reduce cryptocurrency price and transaction price would look also cheap.
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Yes @bitbit97 I don't see any problem paying a $50 fee if the transaction amount is much higher. The problem is that it is crazy to pay $50 in fees to do a $20 transaction for example in Ehtereum.
This is causing a lot of frustration in the community, especially for users with less funds, who can do practically nothing because of the high price of transactions.
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In fact this may not be a serious problem for large traders who have large amounts of bitcoin and ethereum. but it will be felt for small traders, it will be very detrimental and it seems that if the price of bitcoin and ethereum continues to increase, this transaction fee will not decrease either.
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In fact this may not be a serious problem for large traders who have large amounts of bitcoin and ethereum. but it will be felt for small traders, it will be very detrimental and it seems that if the price of bitcoin and ethereum continues to increase, this transaction fee will not decrease either.
Yes you're right mate those high transaction fees will not affect the large traders or whales But the statistics say that most traders and Hodlers belong to the small and medium scale category and trading and Swapping with that expensive fees is not good, thats, why the effect is already seen by now and the favor, is changing and these time with the Binance Smart Chain or BSC if the trend will continue BSC will overtake Ethereum in terms of volume for me thats not surprising because BSC is cheaper compared to Ethereum Network.
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We can't do anything about the high cost of Bitcoin and Ethereum transactions, only hope that things will change with all of this. Because for me this is very disappointing, Bitcoin and Ethereum must have cheap transaction fees, so that people who are here feel happy and comfortable.
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@Confero not only is it disappointing for you, it is disappointing for all the small fish, and I think we are the majority here. It is clear that we cannot do anything to fix it, but if we continue like this, the abandonment of the Ethereum blockchain by users and teams can be massive. I'm not saying that Ethereum is going to be forgotten, but a lot of people are going to stop using it because of this problem and in the end it will only be used by people who have a lot of money.
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:)
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It is no longer news that high transaction fee in both eth an btc network is making many people to suffer, we already know about btc hence the reason why many will opt for eth but eth is so high in transaction fee that small traders can't benefit it.
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If the core team of eth is not properly paying attention to this ready ready eth abandoned by many people and project owners erc20. Migrating to BSC is the most appropriate option at the moment. Not only new crypto, some old cryptos also immediately move to the BSC network. I hope in the future there will be no more erc20 tokens because it really weighs on me in many ways. Even the current cheapest $40 transaction is completely unreasonable.
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Bitcoin and ethereum were the first cryptocurrencies and their bandwidth was not designed for the current high volume of transactions. However, for Bitcoin, this problem will remain a significant problem for now, and for the Ethereum network, this problem may disappear in four months, when gas prices may return to normal in July due to the systematic implementation of Ethereum 2.0 improvements.
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High fees on the Ethereum network are a headache for all market participants. The miners are just jubilant now. While ERC20 is losing its popularity, the BSC network is gaining a share of the market.
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Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.
Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!
I believe it is affecting ERC20 transaction already. I tried to transfer some USDT from one wallet to another exchange yesterday and the fee was about $20 and I just couldn't do that, I have to wait until that is much lower since there is an alternative at the moment for me and I believe to many others too.
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Yes @bitbit97 I don't see any problem paying a $50 fee if the transaction amount is much higher. The problem is that it is crazy to pay $50 in fees to do a $20 transaction for example in Ehtereum.
This is causing a lot of frustration in the community, especially for users with less funds, who can do practically nothing because of the high price of transactions.
Large commissions are a failure for the coin. Why should the society pay such commissions on the ethereum network, if you can switch to Finance SmartChain. I think that in the future, if the binance network develops faster, then even ethereum 2.0 will not be needed by anyone.
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Yes @bitbit97 I don't see any problem paying a $50 fee if the transaction amount is much higher. The problem is that it is crazy to pay $50 in fees to do a $20 transaction for example in Ehtereum.
This is causing a lot of frustration in the community, especially for users with less funds, who can do practically nothing because of the high price of transactions.
Large commissions are a failure for the coin. Why should the society pay such commissions on the ethereum network, if you can switch to Finance SmartChain. I think that in the future, if the binance network develops faster, then even ethereum 2.0 will not be needed by anyone.
Today, the whole problem of the Ethereum platform is stored precisely in the miners, since it is they who support the existing high prices for transactions. But the team will forcibly reduce commissions to stay competitive. We will not have to wait long for this.
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in my opinion the high fees of bitcoin and ethereum are closely linked to their value, i believe that users who are looking for other blockchains where to operate such as ada or bsc are right,there the fees are reasonable, why giving all this money in fees to miners, remember when the fees on eth were 10 cents?
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@bitcoin-shark I remember when Ethereum fees were only 6 cents ;D. What has happened has been very serious, so much even 1Inch has decided to stop using the Ethereum chain to start using the Binance chain, BSC, much cheaper and faster. Ethereum will soon lose a lot of users and projects, and it's a shame.
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Expensive cost of transactions had become the main talk of the day. Bitcoins network fee is more considerate to that of the Ethereum network because i can boost that the highest fee paid to settle transaction on BTC network has never been close to a half of what Is currently paid on the Ethereums network. Good thing there are s lot of better alternatives.
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I don't think this is a failure by Bitcoin and Ethereum, but it is a very fatal mistake. I am really very disappointed with Ethereum in particular, the very high transaction fees made me fail to send some of my assets to the market, and I hope there will be a way out of this. Whether it's from the Ethereum Blockchain itself or there are solutions from other Blockchain, the important thing is that it can make it easier for us in terms of transactions.
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With such prices per transaction, Ethereum will soon turn from a network accessible to all into a “closed club of millionaires”. This is no longer suitable for small transactions and all small traders will switch to a different blockchain.
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to me i take it as exploitation, because they know users have no other option in getting the value of their asset than to pay the required gas fees, they are just like a major seller and they are dominating the market, if they have major competitor or threat, they will get there sense back.
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I can't say the high transaction fees are a failure, this situation works because the blockchain network has a heavy amount of traffic, we have seen Lightning Network and Ethereum 2.0 solve this problem.
We just need to be patient because the developers are still doing what is best for everyone
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You're right, everyone realizes that ETH and BTC fees are insane these days. Even publish0x.com stopped withdrawals due to high ETH fees. If this continues I am sure that people will abandon traditional cryptocurrency systems like this, and switch to a faster and cheaper one, like Tron.
Of course, in general, participants in this market will always strive to use the cryptocurrency that is convenient and profitable. And although bitcoin now has a special relationship with market participants, the laws of the market will eventually apply to it.
As for ethereum, let's hope that the high transaction fees are temporary and as early as July, as they promise, they will return to normal. Having a lot of ERC-20 tokens, it is unlikely that we can now easily switch to using another platform. For now, I try to use them less and make transactions either with a large volume of tokens, or in very urgent cases.
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I do not agree with this as it is a biased argument; so do you mean to say banks failing to complete transaction in more than 3 days as also a sign of failure ? the blockchain is the most convenient space; where all you need to do is understand how it works. Bitcoin transactions are always below 10$, same with etherum; the congestion will heal
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This is not a failure.
You can wait until the traffic on the blockchain network doesn't get stuck, it will definitely happen and you will see BTC sending transactions for just $2 and ETH $2 transfers as long as we need to wait for the blockchain network to be free of congestion. and always pay attention to fuel costs before transferring coins or tokens
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Despite the congestion in the networks through blockchain technology the transactions of low profit traders for high fees are failing they can't do any transaction for a low fee with the increase in their price the problem of the networks will not last long. But there are many transactions closed due to high transaction fees.
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There are many variations in the market. Yes, there is a good alternative, but there are other projects that are doing this. There is also a Cartesian project that seeks to solve the problem by working on the Ethereum network.
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You are saying right. Ethereum and Bitcoin transaction fees are too high. And due to large traffic on these block chain, it takes more time then usual.These block chains tron, binance smart chain, polkadot, stellar. are more used because of its low transaction fees and speed.
Crypto community is very depressed because of high transaction fees of ethereum. So, they shift on other block chains.
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If the Ethereum #DevelopmentTeam does not solve this problem immediately, I am sure many users and holders will abandon it. Because the cost of gas fees is too high, it could cost Ethereum itself even if Ethereum could be destroyed. So far, ERC20 is the most popular smart blockchain platform, but all of that can be destroyed if the problem of expensive gas fees is not immediately resolved by the #DevelopmentTeam .
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This is a very serious problem today, large fees will force people to switch to other coins with cheap transactions. I think Ethereum developers should seriously think about this problem and solve it as soon as possible.
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This is a very serious problem today, large fees will force people to switch to other coins with cheap transactions. I think Ethereum developers should seriously think about this problem and solve it as soon as possible.
On the Internet, information has already been repeatedly met that the last phase of the ETH2.0 update will be launched in July 2021, and this will significantly improve transaction processing, making the Ethereum blockchain not only more accessible, but also more scalable and faster. I suppose it's not that long to wait for the commissions to become cheaper.
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This is not a failure.
You can wait until the traffic on the blockchain network doesn't get stuck, it will definitely happen and you will see BTC sending transactions for just $2 and ETH $2 transfers as long as we need to wait for the blockchain network to be free of congestion. and always pay attention to fuel costs before transferring coins or tokens
Until Lightning Network is deployed else we will continue to have transaction congestions it really very annoying paying high fee for a coin to be sent, ethereum worst hit in terms of transaction gas and this really very discouraging, I hope a cheaper and alternative is introduced to save all cryptocurrency enthusiasts from this unnecessary exploitation.
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As a beginner in crypto, I can't afford to pay huge transaction fees so I stick with the exchanges that doesn't cost much for a transaction.
I also believe there are people out there who thinks this is exploitation of users. The earlier they work on reducing the gas fees the better.
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We are talking about the problem for more then 1 year. The current gas fee especially in ether platform so much excessive. At the moment many investors already take another platform. If ether fail then only allegation goes to excessive gas fees.
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As a beginner in crypto, I can't afford to pay huge transaction fees so I stick with the exchanges that doesn't cost much for a transaction.
I also believe there are people out there who thinks this is exploitation of users. The earlier they work on reducing the gas fees the better.
I have experienced the same thing as you, you can keep the tokens you have in your wallet and wait for low fuel costs, another option is, when you successfully send tokens to the exchange, you can make withdrawals on the Tron Network with cheap fees. Currently sending tokens from the Metamask wallet is still affordable at only $3 to $5.
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Yes, at present the gas fee has increased so much that we cannot transact due to the extra gas fee for selling or picking up something. However, the highest gas fee is being deducted on the Ethereum platform. Either the Ethereum platform will be far behind. So as soon as possible the extra gas fees for Ethereum and Bitcoin platforms should be reduced.
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Yes, for some time now we have been seeing Ethereum and Bitcoin transaction fees go up so much that we can't sell any coins.In the absence of this transaction fee, the coins that we might sell if we can sell them for $50, the fee is $15+ to $70+ dollars. So many extra gas fees have bothered us a lot. And if these additional gas fees are not reduced, then all these platforms will lag far behind.
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Yeah, the fees of both BTC and ETH or ERC20 tokens are very high. Moreover, many exchanges also increase their withdrawal fee. It is commonly only 0.005ETH but now. the transaction fee is around 0,008ETH minimally. WOw, I feel that ERC20 tokens that I have really cannot be withdrawn from my wallet
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This is very hurtful, but we can do nothing. Vitalic Buterin itself also seems not to care about this, and not willing to make a certain decision. Moreover, the price of Eth is now very increasing. So, I don't think that it will really make a lower price. ABout exchange, yeah, they also mostly will increase the transaction
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It has affected more in ethereum network than BTC. Project already moving out of the blockchain to lighter ones (less congetion) like the binance smart chain and even trx blockchain. Though it would get eventually fixed in the full face of ETH 2.0, it would affect the eth market in general and restrict potential holders and investors of both eth and ERC20 toekns.
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No, it cannot be called a failure. The transaction fees are dynamic, it happens to follow the number of transactions in the network. We cannot fully control it, so it seems natural. However, there should be a solution for this case, then the transaction fees not very expensive anymore.
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Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.
Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!
This is a problem as most of us have already noticed what is going on with the high fees on ethereum network. I too wanted to do a transaction moving 215 USDT from one wallet to another and on ERC20 it was charging fee of 20 USDT while the TRC20 transaction on the same wallet was charging 1 USDT which of cause I used and thankfully that option was there cos there's another transaction am still not able to do cos of this gas fee.
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Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.
Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!
This is a problem as most of us have already noticed what is going on with the high fees on ethereum network. I too wanted to do a transaction moving 215 USDT from one wallet to another and on ERC20 it was charging fee of 20 USDT while the TRC20 transaction on the same wallet was charging 1 USDT which of cause I used and thankfully that option was there cos there's another transaction am still not able to do cos of this gas fee.
It's really strange why there is such a huge commission when moving USDT, I recently sent a token and I paid a commission of 2.8$, but when sending USDT, the commission was almost 10$, on what it depends I don't understand.
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I am really very worried about this gas fee problem. Over time, I felt that this crypto was really torturous with gas fees. when will there be a settlement with a gas fee. I don't like MEW anymore now.
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Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.
Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!
Yeah, as it stand on the BTC and Eth transaction fees, I think IT is not a sign of failure but it is due to high volume of demands from the general public. As we all know the there is currently a high demand for bitcoin and ethereum because many institutions investors, high profile individuals and more people are coming onboard in large numbers, meaning the network will be highly congested.
I think that this situation for the bitcoin network will persist, and that of Ethereun network may get a relieve if the planned upgrade is fully functional.
Now, my little advice on any Erc20 token movement is just exchange through other blockchain networks with cheaper transactions fees eg Tron network.
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This can hardly be called a failure of Bitcoin and ethereum. These coins were created when the number of transactions was not that many. Over time, the load on the network has increased and these coins just need to be updated in time and monitor the level of their competitiveness. From the standpoint of the present time, the small bandwidth of their network is already becoming a big problem. Of course, if the solution to this problem takes too long, it can already be called a failure of these coins.
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The worst part of eth fees someone I saw complaining from a staking portal he already end the staking token worth $100 and when he tried to withdraw the fees is like $58 lol this is crazy but considering those problems we encounter everyday I dont want this to assume as a failure It just happened that a lot of dapps was already created in eth network especially when defi projects introduced and the network overloaded and needs an upgrade thats why the eth 2.0 was proposed as a solution to scalability and fees.
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As a beginner in crypto, I can't afford to pay huge transaction fees so I stick with the exchanges that doesn't cost much for a transaction.
I also believe there are people out there who thinks this is exploitation of users. The earlier they work on reducing the gas fees the better.
Trust me this is not only an issue to a beginner in crypto even the veterans in crypto trading see this high fees as a failure to the ethereum network which needs urgent attention but this don't seems to come through for the main time. Though Crypto projects might have issues every now and then but it is the ability and the quickness to resolving this issues that matters and give investors the confidence to continue hanging with you.
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The increase in transaction fees is caused by many transactions happen. Instead, it is a sign that more people are joining in crypto trading or investment nowadays. I can say that currently there are more people starting to have their new journey in the crypto business. But unfortunately, the impact is the increase in transaction fees.
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The increase in transaction fees is caused by many transactions happen. Instead, it is a sign that more people are joining in crypto trading or investment nowadays. I can say that currently there are more people starting to have their new journey in the crypto business. But unfortunately, the impact is the increase in transaction fees.
But actually Bitcoin was created as a Fiat currency solution with many advantages when compared to Fiat. If more and more people transact in Bitcoin and the fees are higher it means Bitcoin has really failed. Let's look at FIAT, no matter how many people make transactions, the costs are still there.
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I do not consider the current situation with expensive transactions on the bitcoin and ethereum networks as a sign of their failure. These were the first cryptocurrencies, and at first their throughput in terms of the number of transactions was not designed for such a high demand. The main thing is that each cryptocurrency is updated on time and eliminates deficiencies in accordance with the requirements of the time. The ethereum network, albeit with a delay, is now being radically updated and this problem is already being solved, and after August 4, after the London hard fork, it should go away completely. However, we see that in the bitcoin network as a whole, this problem has not yet been solved.
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Yes, the current high transaction fees on the Bitcoin and ethereum networks are not signs of failure. At the time, they were much smaller because there weren't so many transactions and so much competition. This can only be regarded as a sign of lagging behind other cryptocurrencies, which are ahead of the first cryptocurrencies in terms of functional indicators. Each cryptocurrency must be updated on time and be competitive, otherwise it will lose its previous positions. This also applies to bitcoin, which has big problems in this regard, and they seem to only increase over time.
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I transact with Ethereum, but it didn't take long. However, Ethereum transactions are fast. Ethereum may not be able to absorb quickly from where you took it. Ethereum's gas fees are high, but transactions are not that slow.
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The higher the fee, the more people invest for the long term
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No, today this is only a sign of network congestion. Bitcoin and ethereum were the first cryptocurrencies and then there were not so many participants in this market, and therefore high scalability was not required. To solve the problem, need to update, as the ethereum team does with the Ethereum 2.0 update. But the problem in the bitcoin network, it seems, will remain for now.
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I joined different bounty program and at the end of campaign get reward. but all those coins with ERC-20 blockchain are still in my wallet and it cost huge gas to withdraw them. this is something which should be fixed if they want user to use there coins.
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We can't transfer any ERC 20 based assets due to high excessive amounts of Ethereum network fees. Today I already transferred my ERC 20 assets with fee's of 43 dollars. That a lots of fees for me .
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Ethereum high gas fee but we can not say Btc and Eth will fail as you know the price of both coins is quite high at the moment so according to the price gas fee is high but it's not affordable for small traders or investors. Certainly,
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It should be borne in mind that bitcoin and ethereum were among the first cryptocurrencies. At first, there were few transactions and the fees were also low. It was perfectly acceptable then. But the situation in the world of cryptocurrency is constantly changing. The network load of these coins increased dramatically, as did the transaction fees. I do not think that the difficulties encountered are a sign of the failure of these coins. This is a sign that correction is needed and should be done on time.
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we all don't know what is the cause of the high cost of gas, I think the cost of gas can't be controlled anymore, it has become a fixed price, I don't know until when gas costs will be like this sometimes even 30$ is still experiencing obstacles,
does it have to be 50$ up to make transactions fast?
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we all don't know what is the cause of the high cost of gas, I think the cost of gas can't be controlled anymore, it has become a fixed price, I don't know until when gas costs will be like this sometimes even 30$ is still experiencing obstacles,
does it have to be 50$ up to make transactions fast?
Excuse me, but we know the reason for the high price of gas, it is information that can be found in many places. The high price of gas is the result of several variable parameters in the source code, but the most important parameter is the number of users who are sending transactions through the Ethereum chain. When there are more transactions, miners need to validate more blocks. If you want to know more information you can read this article: https://www.sofi.com/learn/content/what-is-ethereum-gas
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in my opinion the most expensive to make transactions is on the ethereum network because if you look at bitcoin there are still methods or ways to make transfers with very cheap fees, I often do it by doing it on the mempool network so it's definitely cheaper and better using bitcoin instead of ethereum.
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in my opinion the most expensive to make transactions is on the ethereum network because if you look at bitcoin there are still methods or ways to make transfers with very cheap fees, I often do it by doing it on the mempool network so it's definitely cheaper and better using bitcoin instead of ethereum.
I agree, I think Ethereum fee is so high.
Until now Ethereum dev didn't have good solution for this problem.
Many investors suffered about it
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The Ethereum network is increasingly frustrating to me due to its huge fees. I have almost given up on transactions on the Ethereum network and prefer to use Polygon (Matic) and Binance Smart Chain.
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in my opinion the most expensive to make transactions is on the ethereum network because if you look at bitcoin there are still methods or ways to make transfers with very cheap fees, I often do it by doing it on the mempool network so it's definitely cheaper and better using bitcoin instead of ethereum.
I agree, I think Ethereum fee is so high.
Until now Ethereum dev didn't have good solution for this problem.
Many investors suffered about it
Yes, it is, and since I wrote this Thread in early February 2021 but until now it has not been fixed even the EIP-1559 was already implemented it seems that no relief was delivered with almost a year of waiting but I don't understand on the developer's side despite that many setbacks Ethereum developers are boosting that Ethereum today is already a deflationary token because they burn the gas fees at the expense of its users.
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I think they will fix it soon. Because this problem cannot continue for so long, they will lose their holders so soon. This is my personal opinion. But I still respect Ethereum.
Soon ? I think the developers didn't have good solution for this problem this why until now bitcoin and Ethereum transaction fee are so high.
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I think they will fix it soon. Because this problem cannot continue for so long, they will lose their holders so soon. This is my personal opinion. But I still respect Ethereum.
Soon ? I think the developers didn't have good solution for this problem this why until now bitcoin and Ethereum transaction fee are so high.
Yes, I think It's big problem for us, trader and Investor
Alywas suffering while do transaction.
Hopefully dev will fix this problem soon.
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Bitcoin and Ethereum are big coins, I think it's natural to have expensive transaction fees. But unfortunately for Ethereum, there are so many tokens that are based on the ERC20 network and at this high cost, many people are disappointed.
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Most of us have to pay hefty transaction fees when dealing with Bitcoin or Ethereum and this is the major problem we are facing so many trader use other coins where transaction charges are less. For eg: BSC and Tron is doing good with meager transaction charges as compared to BTC and Ethereum. The effect is most of the new projects are now BSC-based and nowadays Polygon is also attracting the dev of new projects.
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These gas fees are exorbitant and we can't do anything about it. Not even Binance Smart Chain, Polygon and Solana could control theirs despite it's still low but with drawbacks as well. In El Salvador, I think they are using the Lightning Network for BTC transactions (correct me if I'm wrong) and ETH 2.0 might be the problem-solver for this exorbitant gas fees that we have experienced in Ethereum.
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These gas fees are exorbitant and we can't do anything about it. Not even Binance Smart Chain, Polygon and Solana could control theirs despite it's still low but with drawbacks as well. In El Salvador, I think they are using the Lightning Network for BTC transactions (correct me if I'm wrong) and ETH 2.0 might be the problem-solver for this exorbitant gas fees that we have experienced in Ethereum.
Hopefully ETH 2.0 will be problem solver, But after ETH 2.0 has launched, I see Ethereum gas fee is still high.
I think Ethereum dev didn't have good solution yet.
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The trend is now pegging these coins (BTC & ETH) so users can use BSC, MATIC, etc. cheap tx fees to move the pegged coins. Yes, I also think it's a failure, but the market still decides the values aren't based on the tx fees, and they still have some workaround to cut fees via pegged coins. In other words, the market doesn't care about the fees! Crazy isn't it?
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What failure do you mean here? A failure of Ethereum and Bitcoin to give us a cheap transaction fee? I don't think it is a failure sign of both Ethereum and Bitcoin. A high transaction fee is caused by too many transactions that happened lately. If there is a significant increase in transactions, it means there are more people to be active in the crypto industry. Instead, it is a sign of the success in crypto industry.
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The Ethereum network is increasingly frustrating to me due to its huge fees. I have almost given up on transactions on the Ethereum network and prefer to use Polygon (Matic) and Binance Smart Chain.
Likewise, the only problem is that, we still, unfortunately, have to keep dealing with that Ether network and its high transaction fees because some projects that we hold are still on there and some I have even decided not to transact cos the fees is going to be much more than what I am getting from the coins ;D Polygon and BSC are the go-to networks now.
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Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.
Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!
Yeah, I think It's the failure.of project development.
Dev team of bitcoin and Ethereum should have good solution for high transaction fee problem
Until now, Not yet.
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Yeah, I think It's the failure.of project development.
Dev team of bitcoin and Ethereum should have good solution for high transaction fee problem
Until now, Not yet.
Keep calm, I think project team will have good solution to reduce gas fee.
Although several people said It's impossible, but I believe dev team will solve this problem
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Keep calm, I think project team will have good solution to reduce gas fee.
Although several people said It's impossible, but I believe dev team will solve this problem
It is not that the developers have no solution because it is impossible to fix the problem. After all the time that has passed, the only possible solution will be the (full and functional) launch of ETH 2.0. What it does seem is that the developers do not care at all about the situation in which many users are now, and that is a very negative point for decentralization, it seems that Ethereum has become a chain only for people with a lot of money. They have had enough time to find solutions and also to implement them.
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I do not think that's true. Increase if eth gas fees indicate that network is getting more traffic day by day this is also true with bitcoin. Transaction fees of 30$ to 50$ are not a big problem for a retail investors. Actually, it's nothing if you are investing 10k in a project. Initial return will be so massive these losses will cover up very easily.
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I think they will fix it soon. Because this problem cannot continue for so long, they will lose their holders so soon. This is my personal opinion. But I still respect Ethereum.
I am sorry to be the one to break this news to you, but the Ethereum gas pain in the ass is going to be around longer than you think, mate. People thought the roll out of Ethereum 2.0 would make it go away, but heeewe are 6 months after…
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I do not think that's true. Increase if eth gas fees indicate that network is getting more traffic day by day this is also true with bitcoin. Transaction fees of 30$ to 50$ are not a big problem for a retail investors. Actually, it's nothing if you are investing 10k in a project. Initial return will be so massive these losses will cover up very easily.
You're right, when the Ethereum price increases, traffic will follow it.
It's the reason why gas fee will so high.
I think has fee is depending on Ethereum price
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I do not think that's true. Increase if eth gas fees indicate that network is getting more traffic day by day this is also true with bitcoin. Transaction fees of 30$ to 50$ are not a big problem for a retail investors. Actually, it's nothing if you are investing 10k in a project. Initial return will be so massive these losses will cover up very easily.
You're right, when the Ethereum price increases, traffic will follow it.
It's the reason why gas fee will so high.
I think has fee is depending on Ethereum price
Yeah, teh main reason why Ethereum gas fee is so high, I think It's traffic.
We should check the time when gas fee will lower
But It's waste of time.
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Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.
Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!
Sign of failure, yeah I think failure of #DevelopmentTeam if they don't have good solution for expensive transaction fee.
Until now, I see not yet. Ethereum 2.0 has been launched but didn't have good effect.
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Bitcoin and Ethereum network fee very high. I guess polygon and solana as a network project have great assets to keep to wait for the next bull. I also see on the network they publish a lot of NFT. Now we are the era of NFT, while waiting for the bull to come, I want to keep between polygon and solana.
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Bitcoin and Ethereum network fee very high. I guess polygon and solana as a network project have great assets to keep to wait for the next bull. I also see on the network they publish a lot of NFT. Now we are the era of NFT, while waiting for the bull to come, I want to keep between polygon and solana.
You're right, the Solana and Polygon teams are doing a great job, but remember they're doing it because they've learned from the bigger mistakes of other products. Now it is the developers of Ethereum (in Bitcoin the transaction fees are not that high) who have to make sure that their chain does not fall behind and lose more projects than it is losing now, because if everything continues as it is now it could be worrying. In addition, new smart contract platforms are coming and will also give a lot to talk about.
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Bitcoin and Ethereum network fee very high. I guess polygon and solana as a network project have great assets to keep to wait for the next bull. I also see on the network they publish a lot of NFT. Now we are the era of NFT, while waiting for the bull to come, I want to keep between polygon and solana.
You're right, the Solana and Polygon teams are doing a great job, but remember they're doing it because they've learned from the bigger mistakes of other products. Now it is the developers of Ethereum (in Bitcoin the transaction fees are not that high) who have to make sure that their chain does not fall behind and lose more projects than it is losing now, because if everything continues as it is now it could be worrying. In addition, new smart contract platforms are coming and will also give a lot to talk about.
You're right solana and polygon have learned other mistake. Bitcoin and Ethereum fee are so high.
Hopefully solana, polygon, BSC and others will be good solution for high gas fee
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The transaction fees, without a doubt, one of the darkest and most criticized points of the Ethereum network, and with good reason. Unfortunately this problem is causing many projects to migrate to other blockchains so as not to end bankruptcy. It's a shame that this happens just as the value of Ethereum keeps getting new ATHs in no time, we will see what happens with ETH 2.0.
Many investors waiting the Ethereum 2.0 progress, but until now Ethereum 2.0.didnt have good solution for expensive transaction fees.
So we should wait and see, wa all know many projects migrate to other Blockchain.
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I agree, wholeheartedly. The high transaction fees of these blockchains is a sign of failure. Plain failure. That is stopping Ethereum and Bitcoin from being a media of transaction or a store of value. I hope they fix it some day
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I agree, wholeheartedly. The high transaction fees of these blockchains is a sign of failure. Plain failure. That is stopping Ethereum and Bitcoin from being a media of transaction or a store of value. I hope they fix it some day
The same cannot be said for Bitcoin as for Ethereum in this case. The time range in which Bitcoin had the highest transaction fees was from January to July 2021, after that time period they fell to stay at a more normal level. Ethereum transaction fees exceed $100 at any time of the day, even if they are simple transactions between ERC-20 wallets, if they are transactions towards a DEX they can be more than $200. The Ethereum developers should have done something about this a long time ago.
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For Bitcoin, high transaction costs have made it competitive by Litecoin, XRP, DASH, BCH. But the LightningNetwork solution effectively solved this problem for El Salvador.
For Ethereum: high transaction costs have forced users to switch to BSC and other platforms. They are not willing to pay 100-1000 USD per transaction.
I hope the upcoming update of Ethereum will help reduce transaction fees and bring Ethereum back to its glory days.
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I hope the upcoming update of Ethereum will help reduce transaction fees and bring Ethereum back to its glory days.
Many people hoping too, almost all of investors hope Ethereum will improve their project to reduce transaction fees.
It's really annoying.
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We assume it as a failure because we are small traders/investors. Those who have huge capital do not worried about the high Gas fees but it impacts small traders and investors. Yes, I am also one of them to avoid making transactions in BTC and Ethereum I also use BSC and Tron Network to transfer my money to save the gas fee charges, and now Polygon chain is also developing it is also much cheaper than others. Eth dev need to fix this issue he should also take care of small investors and we have seen changes as most of the new projects are launching on BSC and Polygon nowadays and eth dev should take this seriously as most of the new investors does not want to pay a hefty fee so they prefer other chains.
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It must be taken into account that bitcoin and ethereum were the first cryptocurrencies and were not designed for such a large audience of users as they are now. However, in order to be competitive, each cryptocurrency must be updated and improved on time. The developers of ethereum delayed updating the ethereum network and therefore it is now losing its popularity. I hope that with the completion of the update within Ethereum 2.0, the ethereum coin will solve the problems with scaling and high transaction fees and return the shaken position of the altcoin leader.
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It must be taken into account that bitcoin and ethereum were the first cryptocurrencies and were not designed for such a large audience of users as they are now. However, in order to be competitive, each cryptocurrency must be updated and improved on time. The developers of ethereum delayed updating the ethereum network and therefore it is now losing its popularity. I hope that with the completion of the update within Ethereum 2.0, the ethereum coin will solve the problems with scaling and high transaction fees and return the shaken position of the altcoin leader.
I think Ethereum Dec didn't have good solution for their problem, high transaction fee
Many investors believe about Ethereum 2.0, but not yet
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I just don’t understand how else the community pays such huge commissions in these networks, and in principle it often happens that the transaction does not go through and the commission is withdrawn, it generally looks like some kind of swindle. There are a bunch of networks that take a minimum commission for a transaction, they just don’t have that hype like in the old networks of Ethereum and Bitcoin.
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I just don’t understand how else the community pays such huge commissions in these networks, and in principle it often happens that the transaction does not go through and the commission is withdrawn, it generally looks like some kind of swindle. There are a bunch of networks that take a minimum commission for a transaction, they just don’t have that hype like in the old networks of Ethereum and Bitcoin.
I think transaction fee depends on traffic and the price of Ethereum.
I personally don't believe Ethereum Dev has good solution because I see the high gas fee is still high til today
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I agree, wholeheartedly. The high transaction fees of these blockchains is a sign of failure. Plain failure. That is stopping Ethereum and Bitcoin from being a media of transaction or a store of value. I hope they fix it some day
Bitcoin and ethereum were the first cryptocurrencies in this market and they were not designed for such a large current number of transactions. With an increase in demand, these coins simply need to be updated in a timely manner in accordance with the requirements of the time, and then there would be no problems. Therefore, I do not consider high transactions in these networks as a sign of their failure. Ethereum, albeit very late, solves these issues and transactions in its network have already dropped to acceptable sizes. But the same cannot be said for bitcoin. Despite the still high demand, this coin is very poorly updated, so it can expect failures in the future.
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If these projects have such a problem and in the future everything will be difficult for them with transactions, this does not mean that these projects will go into the background. Although now the market has fallen so much, transactions on the network have decreased by a very low amount.
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The network fees for Bitcoin and Ethereum are extremely high. Polygon and Solana, as network projects, must have outstanding assets to keep them going till the next bull. I also see that they publish a lot of NFT on the network. Now that we are in the NFT period.