Expensive Transaction fees in Both Bitcoin and Ethereum are sign of failure!

[masterrex]

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!!!

[Andruha1993]

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.

[masterrex]

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.

[Giangphuong8489]

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.

[TOP_ETH]

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.

[Thymoty]

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.

[MishaSER]

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.

[pelana vreo]

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.

[robert20]

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.

[robert20]

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

[sergeybobrov]

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.

[gurunanakji777]

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.

[Sirait]

^ 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.

[@chison]

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

[Freemind]

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.