Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: admin on December 04, 2020, 07:19:12 PM
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I see many are asking when ETH will start with the POS (proof of stake) when the gas price will drop ?
Answer not soon!
True, the ETH2.0 launched, but it is only a first phase of the ETH 2.0 deploy, to be fully operational the project should have:
- Beacon Chain launched > this is done
- Shard Chains launched > still many months for this
- ETH 2.0 replacing the current blockchain > basically at the end
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We are the ones who are constantly talking about eth 2.0. However, the discussions remain only discussions. There is no official announcement. I also know that the gas fee will not be reduced soon or if it is started. Misconceptions of people.
Blockchain is moving away from technology to innovation. Of course it will take a lot of time. What will change in the market is a matter of concern.
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It's a shame it's seemingly still going to take forever then. Guess my 4.1 gwei transaction may take months to confirm. Oh well. High gas fees is one of the reasons why I find Tron useful, even though I don't like Justin Sun or the project in general. At least you can make transactions for free when staking...
I imagine the gambling apps based on Tron and thriving right now since Ethereum became unaffordable for efficient and cheap translations.
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Actually, after the emergence of Ethereum 2.0, it took a little longer to judge Ethereum 2.0. However, what is very clear now is the gas fee issue which has yet to be resolved. Because maybe this is what most people have been waiting for.
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Ethereum 2.0 was officially launched in early December. However, we definitely need time to see the performance of Ethereum 2.0. And it doesn't look so fast because everything also needs a process. At least we will see after one month what happened.
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Ethereum 2.0 was officially launched in early December. However, we definitely need time to see the performance of Ethereum 2.0. And it doesn't look so fast because everything also needs a process. At least we will see after one month what happened.
Months are also too short to see even the first results of the ethereum network upgrade during the current Ethereum 2.0 implementation. This process is designed for as long as two years.
One of the most challenging practical issues for users of the ethereum network is low scalability and high transaction fees. We cannot even say yet when these problems will be resolved. I would like to quickly see the updated ethereum.
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I agree with you. This really takes time, because it is a very difficult process and I am sure that the team is working on this every day. But I really want this to happen soon because the commissions are really big.
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There was a lot of information in the post.I think it will take a long time to update.Because their gas fees have not been reduced yet, there are much higher fees.This is the demand of everyone to reduce the gas fee by updating it completely.
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I am looking forward to the full launch of Ether version 2.0, after the launch I expect to see a good growth for the token
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Currently, the ETH2.0 #DevelopmentTeam is focusing on the decentralization and safety of the network when moving from POW to POS.
Once the POS is completed, they will study scalability thanks to the Shardings solution. I think this can only be achieved by the end of 2021. Expectation on the development of Ethereum that has caused the token price to be pushed up and it is correcting around $1200.
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Before launched Ethereum 2.0 platform, we all awaited for that it would deduct Ethereum excess amount of gas fees but now no Ethereum network fees reductions. Always Ethereum gas fees increasing. I can't sell my ERC 20 assets due to heavy excessive amount of gas.
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I guess the one good thing eth 2.0 was able to bring was the spike in eth price, but with the high gas transaction fee it is hard to tough any erc20 token without paying a ridiculous gas fee, i wonder if the eth 2.0 will eventually address this issue and if this is what users will face in the main time.
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Does that mean at present not many people are engaged in pos? Or does it means only validators can access pos for until all everything is completely set up, many people where expecting an immediate kick off when the network is launched, I guess many was not expecting to slow progress.
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Currently, the ETH2.0 #DevelopmentTeam is focusing on the decentralization and safety of the network when moving from POW to POS.
Once the POS is completed, they will study scalability thanks to the Shardings solution. I think this can only be achieved by the end of 2021. Expectation on the development of Ethereum that has caused the token price to be pushed up and it is correcting around $1200.
That is, we will not see an increase in ethereum scalability and a decrease in transaction fees on its platform until at least the end of this year? Of course, this is a long time frame, given the growth rate of the cryptocurrency market. During this time, many new projects will choose other platforms for the appearance of their tokens. This will not help increase the growth in popularity and demand for ethereum.
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Of all these factors it has happened, but please just go to Admin to check with Etherscan if the transaction fee for GAS is very expensive.
Really, this is what is regretted by Ethereum because the price of Ethereum has gone up, the market cap has gone up, the transaction fees have also gone up.
It seems that the law of the increase in the price of GAS is the result of the increase in Ethereum itself in the cryptocurrency market.