Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Coin63@ on September 06, 2020, 03:20:39 AM
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In the past few weeks, we have all witnessed an enormous surge in the transaction fees on the Ethereum Blockchain with very low transaction speed. It greatly impacted the business and forced us to transfer the increment in those fees to the community and users of our application. In a bid to resolve this and avoid future related issues, we have proposed to migrate our token to the Tron blockchain. This will enable us to secure the future of your investments and that of the project.
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Actually Erc20 based platforms assets are based on Ethereum gas fees depending. So if I transfer ERC-20 assets from mew to the any exchange it cuts the Ethereum due to Ethereum 2.0 platform. So tron, stellar, others some coins transfer it required to cut Tron, stellar and Ripple. So people lossing ERC-20 assets interest.
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I agree with you that the demand for etherium has decreased a lot due to higher gas fees. Transactions have been so low that many are stopping Ethereum investments which is causing them to lose interest and prices are going down. However, blockchain technology can greatly improve the speed of transactions. The future is going to be much better through blockchain.
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Despite of high gas fee. The people won't abandon Ethereum. What is happening now could be temporary and be resolve later by Ethereum team lead by Vitalik. I think the reason why migrate is grudge over Ethereum fees. I hope everything will be okay sooner to anticipate huge migration from Ethereum to another form of blockchain.
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Yes, I also noticed that you need to pay a lot for gas now. And that scares me. Therefore, I have already started using the Tron blockchain too.
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this might happen now that there were too much gas fee for ethereum blockchain. I can't believed vitalik don't do anything to lower the price and mitigate the issue on high price and.posible transfer of users to other blockchain base platform.
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As a matter of facts, the higher the price of a commodity, the lower the demand. The law of demand and supply is currently playing out on the Ethereum platform, hence people are moving away from Ethereum to other cheaper coin/token with lower transactions fees. It is as simple as that.
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Despite of high gas fee. The people won't abandon Ethereum. What is happening now could be temporary and be resolve later by Ethereum team lead by Vitalik. I think the reason why migrate is grudge over Ethereum fees. I hope everything will be okay sooner to anticipate huge migration from Ethereum to another form of blockchain.
i am also looking to solve this kind of problem. because many people left the eth platform to others platform like TRX Or XLM due to gas fee problem. as a eth fan, i dont like to watch peoples left from eth platform. i hope that ethereum team solve the problem as much as possible. otherwise people lossing their interest deeply.
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I agree with the high transactions fee, a horrible part in ERC-20 tokens right now. But, it just not determine people are losing interests on ERC-20. Once ethreum 2.0 implement on this platform it will come down.
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Those who are already familiar with cryptocurrency may switch or leave ERC-20 because they already know the advantages and disadvantages of using ERC-20. But for new Cryptoners, I think they still interested using ERC-20.
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i doubt people losing their interest on ERC token. The high fees are just temporary and may lift at anytime. There are so many token on ethereum blockchain and some have a high possibility of returning good profit in the future. $1 or $2 is nothing if your transaction goes beyond $100.
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In the past few weeks, we have all witnessed an enormous surge in the transaction fees on the Ethereum Blockchain with very low transaction speed. It greatly impacted the business and forced us to transfer the increment in those fees to the community and users of our application. In a bid to resolve this and avoid future related issues, we have proposed to migrate our token to the Tron blockchain. This will enable us to secure the future of your investments and that of the project.
I am trying to find the relationship between the title and the topic content, and also the topic's section. Are you a team member of any crypto project? Please share more information about that project, and its connection to Bitcoin + ERC20 + TRON :)
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I agree with you that the demand for etherium has decreased a lot due to higher gas fees. Transactions have been so low that many are stopping Ethereum investments which is causing them to lose interest and prices are going down. However, blockchain technology can greatly improve the speed of transactions. The future is going to be much better through blockchain.
Interest and demand for Ethereum is not decreasing, but on the contrary it is growing now thanks to the hype around Defi. We have already seen the maximum price of ETH at $488, and after the correction, we should see an even higher price.
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I think people are interested in ERC20, in fact over the past two months, the market capitalization of all ERC-20 tokens has jumped to about $ 25.6 billion, or about 49% of the total assets on the Ethereum (ETH) blockchain which total $ 52.6 billion.
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I used to always buy Ethereum to withdraw it from the exchange and get a Fiat. Now the Commission is huge, I think you need to use other altcoins to cash out.
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Yes! I and my brother made a twice transactions in ethereum blockchain but it's not like the way it is before because aside from the high gas the transaction is too slow. A bit disappointed about this matter. I'm asking why this is happening right now during the time of pandemic.
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Yes! I and my brother made a twice transactions in ethereum blockchain but it's not like the way it is before because aside from the high gas the transaction is too slow. A bit disappointed about this matter. I'm asking why this is happening right now during the time of pandemic.
The Ethereum network is just too congested right now. The stablecoins on the ethereum blockchain gave a big load, and the total number of altcoins has already grown to more than six thousand, more than 70 percent of which are in this blockchain. In general, the congestion caused the popularity of ethereum.
The scalability problem should be solved by the improvement of Ethereum 2.0, which we have been expecting for a very long time. Perhaps these are complexities and can speed up their implementation. In any case, these difficulties are temporary.
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Yes higher transaction fees intence people to others platforms because they lossing their egarity to Ethereum platforms. They tends to go xlm and Tron platforms due to lower transactions fees.
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this might happen now that there were too much gas fee for ethereum blockchain. I can't believed vitalik don't do anything to lower the price and mitigate the issue on high price and.posible transfer of users to other blockchain base platform.
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this might happen now that there were too much gas fee for ethereum blockchain. I can't believed vitalik don't do anything to lower the price and mitigate the issue on high price and.posible transfer of users to other blockchain base platform.
The problem with high transaction fees on the ethereum network does exist, however, it cannot be solved in a short time. Buterin is also associated with various contingencies. It would be nice to launch Ethereum 2.0 now, but here you need to think it over and double-check it many times, rushing can be very expensive. Therefore, for the time being, you need to be patient. The popularity and demand for ERC-20 tokens will return.
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The gas fee on the Ethereum network should be reduced to boost ERC20 token demand despite the Ethereum 2.0 addition to the ecosystem. A continuous increase or rise in gas fees will definitely hinder further growth of Ethereum and especially the ERC20 tokens.
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If you look at the amount of transactions in the last few weeks, you will see that there are less transactions. Because of the extra gas fees people are doing less transactions from the ethereum platform and that's why I think it has suffered a bit. This is driving the transaction for the higher price of the gas fee. However, I believe that the volume of Bitcoin transactions has increased. Because I myself have traded bitcoins.
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In the past few weeks, we have all witnessed an enormous surge in the transaction fees on the Ethereum Blockchain with very low transaction speed. It greatly impacted the business and forced us to transfer the increment in those fees to the community and users of our application. In a bid to resolve this and avoid future related issues, we have proposed to migrate our token to the Tron blockchain. This will enable us to secure the future of your investments and that of the project.
Right, I am also depressed at the high transaction fees in ERC20 tokens in the Ethereum Network. I have mostly stopped transaction for high fees and when i badly needed, i use TRC20 tokens for lower fees. Still network fees in ERC20 is high and it has put negative impact on ERC20 tokens specially on Ethereum.
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Day by day people are reducing their interest from ERC-20. Most of the little investor or holders are already negative with ERC-20. That is why they take the others platform. I think it would not good for ERC-20. Immediately they take decision to reduce the fees from this ERC-20 or Ethereum platform. .
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No at all because only Erc20 assets transactions fees increased but bitcoin transactions fees more than Ethereum transaction fees, yet bitcoin loss it reputation?
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In the past few weeks, we have all witnessed an enormous surge in the transaction fees on the Ethereum Blockchain with very low transaction speed. It greatly impacted the business and forced us to transfer the increment in those fees to the community and users of our application. In a bid to resolve this and avoid future related issues, we have proposed to migrate our token to the Tron blockchain. This will enable us to secure the future of your investments and that of the project.
Yes, It is true mate..Ethereum Blockchain with very low transaction speed. I hope ethereum 2.0 will give solution. I hope ethereum 2.0 will affect the gas and speed of transaction. I also see many people have use Tron for Investment and transactions now.
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Yes, as the days go by, people are reducing their investment in ERC-20 tokens. Because if you want to invest, you have to change the erc20 token. That change requires a lot of gas fees. So I think everyone except some angel investors have dropped out. However, there is still a huge demand in the market. The reason for the huge demand in the market is that those old investors but they did not stop using the eth platform. They are leaning more and more. So still in a good position.
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There are too many tokens ERC-20, some of them failed to be good tokens. This may lead people to be not interested in these tokens anymore. In my opinion, people will be intereted in ERC-20 as long as there is no problem with it. While if there is something wrong, they will be not interested anymore.
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I don't think that people lose their interest in ERC20 tokens. In this case, The existence of DeFi project may take much interest. But doesn't mean that they lose interest on ERC20 token. ERC20 tokens are still valuable to have
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Aave is a decentralized lending platform built on Ethereum. The most important step the project took, was transforming from a market place for loans to pool lending. In pool lending, lenders put their tokens together in a pool, out of which borrowers take their loans. The interest rate is determined by supply and demand. The higher the %age of a pool is already loaned out, the higher the interest rate. In a market place, lender and borrows set their interest rate and waited for someone to take them up on their offer. This process was rather strenuous and inefficient.
Aave for lenders In order to offer a loan on Aave, all you have to do is send your tokens that you wish to lend to a smart contract. Aave then generates a token called a+”Token-ticker”. For example, for the US-Dollar stablecoin DAI one would obtain aDAI. aDai can be exchanged for DAI at any given moment provided the pool isn’t overloaded. If for example the pool has 100 DAIs, 99 out of which are lended, and somebody wished to exchange their 5 aDAI for 5 DAI, he would first have to wait for the borrowers to pay them back. The aDAI in our case increases in value compared to DAI, because the borrowers pay back interest to the pools. In that sense, aDAI can be seen as a transferable, interest-bearing DAI token. The aDAI contract updates the holder’s credit by the minute depending on the interest rate. To make it simpler, whoever holds aDAI in his wallet, will see its value increase periodically.
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In my opinion, it would be best to wait until ethereum 2.0 finishes and releases. And we will see how it will affect and become a solution for high gas fees or not. If nothing changes, maybe the option to migrate using tron, is the right choice and can be tried.
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Temporary transfer of assets from ethereum to other areas due to fee fees arising from defi madness. However, when everything becomes more stable with Ethereum 2.0, all entities directed to other platforms will return to ethereum again.
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In the past few weeks, we have all witnessed an enormous surge in the transaction fees on the Ethereum Blockchain with very low transaction speed. It greatly impacted the business and forced us to transfer the increment in those fees to the community and users of our application. In a bid to resolve this and avoid future related issues, we have proposed to migrate our token to the Tron blockchain. This will enable us to secure the future of your investments and that of the project.
Actually Erc20 primarily based platforms assets area unit supported Ethereum gas fees relying. thus if I transfer ERC-20 assets from mew to the any exchange it cuts the Ethereum because of Ethereum-2. So tron, stellar, others some coins transfer it needed to chop Tron.
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Transferring of ERC20 tokens to an exchange due to fees cutting may not be a good idea though due to the fact that funds are not entirely safe on an exchange since you do not control the fund and can be stolen at any give time. Recently, kucoin was hacked even though they had a reputation of never being hacked prior to that. We have to be careful.
I believe Ethereum 2.0 may be able to solve the issues of high transaction fees as network congestion will decrease hopefully after the update.