Ethereum gas fees are very high but this isn't problem for big amount holders, traders. Just problem for little users, bounty hunters etc. A trader who swaps $10k from Uniswap, can't mind to pay $30 but small users who want to make transaction from $30-$100, it will be a throat in thorns. But BSC is taking the chance hence and many projects are migrating to BSC.Really sad for Ether users, the liquidity of many people is almost zero when gas is more expensive than the token value. Our ALTS forum itself is thinking of integrating a token on BSC, and I believe its transaction volume will be better than the token on Ether.
Something is happening already. Vitalik Buterin and his crew are getting to work with EIP-1559 which is supposed to dump gas prices. But Ethereum miners are going against it
It is very true, for the transaction of each of these coins it will really be a heavy burden in the future when the price of the coin becomes expensive.
I see now for SafePal coin transactions using the bep20 blockchain if the withdrawal from Binance exchange is around 0.8 Safepal.
Imagine, if in the future the price of Safepal is around 100 USD then for one WD from Binance it will be around 80 USD, bad lol .
Of course, no one is happy with the current transaction fees, especially in Bitcoin and ethereum. But the ethereum network continues to be successfully updated and it is hoped that this problem will nevertheless be resolved as early as next year. But nothing positive can be said about bitcoin so far. This problem has not been globally resolved.
Since now there are so many platforms that attract with their novelty, of course, gas charges will be one of the main topics where users will choose which network to use. The future belongs to those ecosystems that will use very low or even completely free transactions.
Ethereum gas fees are getting as frightening as ever. Imagine where I have to pay a $60 fee to sell a $50 token. Crazy, isn't it? Its preventing one from selling his or her dusts in the wallet
Ethereum gas fees are getting as frightening as ever. Imagine where I have to pay a $60 fee to sell a $50 token. Crazy, isn't it? Its preventing one from selling his or her dusts in the wallet
Until now I'm still having a problem of transaction fee of ethereum because I really want to move my ERC20 tokens to the exchanges but the fee is really insane.. In the future the gas fee will increasing more and I think the traders will still do transaction because they are big whales and we small time traders are no hope using ethereum network..Why is that? After all, we are promised to reduce it to quite acceptable levels. Only when this will happen is a big question. Personally, I believe that this will happen, otherwise Ethereum will collapse, and I no longer believe in that.
Some blockchain transaction projects have a very good price, but if we talk about transactions on the Ether network, they are very highly inflated. Of course, the Ether needs to do something about this problem, maybe everything will settle after the platform update.
Do you think transaction fees will be one of the biggest problems for the crypto community in the future? Is 100k tps enough for market demand?
I think team projects always improve their projects but don't think about how to reduce high fee, because till now, Ethereum 2.0 has launched, but didn't solve the gas fee
Do you think transaction fees will be one of the biggest problems for the crypto community in the future? Is 100k tps enough for market demand?
Of course, transaction fees will be one of the biggest problems for.the crypto community in the future, I hope the project team will solve this problem, because will have bad effect for crypto world.
Some blockchain transaction projects have a very good price, but if we talk about transactions on the Ether network, they are very highly inflated. Of course, the Ether needs to do something about this problem, maybe everything will settle after the platform update.This problem has been observed for a long time and so far none of the updates have helped to cope with it. To be honest, as an ordinary person it is not entirely clear to me why nothing could be done with high commissions.
Of course, as the price of the asset increases, the transaction fee charged will also increase in value, like ethereum for example. but I predict ethereum developers are already prepared for it and will definitely solve the gas fee issue in the future to continue to retain customers.They simply have to solve this problem. Indeed, for the community, it threatens to develop into something more, for example, a large-scale transition to alternative blockchains. And they already exist and are attracted by the low cost of transactions.
Unfortunately, it is. People are starting to use the blockchain where transactions are cheap. As long as the coin is cheap, then the transactions are cheap. But as more and more people start using it, so does the transaction price.The price of an asset is just one indicator that the cost of transactions is enormous. For comparison, take the same Ethereum and Bitcoin. The price of the first cryptocurrency is several times higher than Ethereum, but the cost of transactions is relatively low. It still depends on how many projects "weigh" in the blockchain.
Ethereum is trying to solve this problem, and I think that within two years it will solve it, but today there are already many other projects where fees are almost zero, and in some even zero.Altcoins are developing very quickly, the competition between them is growing. Therefore, they will be forced to constantly reduce transaction fees. This is one of the main ways to attract users to your ecosystem. In cases where the project team cannot solve this problem in time, the cryptocurrency will lose its popularity. This also applies to bitcoin and ethereum. The ethereum team is currently trying to solve the problem of high transaction fees, but I do not see this in relation to Bitcoin.
I can't believe so many people still support Ethereum high gas fees, I think right now the transactions on eth network are meant for the rich alone,if they keep this up I doubt if retail traders will still be able to use it.
I fully agree that it has become very expensive to make cryptocurrency transactions through the Ethereum blockchain, but recently the situation seems to have changed and I hope this will continue in future too, but I think that at any moment the Etheruem blockchain can be congested again and then again cryptocurrency transactions through the Ethereum blockchain will become very expensive, so we just need to make cryptocurrency transactions through other blockchains, for example BSC.
always Very interesting to discuss about high gas fee , hahaha
Many people complain and suffering because expensive gas fee and many projects have integrated to Ethereum platform.
Maybe It won't effect to big investors, whales .
But for us, It's annoying and we can do transaction because this problem.
Ethereum team should hear about investor complain.
yeah, binance smart chain is one of the best alternate smart contract platform.
BSC is faster and cheaper transaction fee than Ethereum.
If Ethereum dev didn't solve gas fee problem, it will be the big problem at the coming future.
Agree with opinion, Ethereum 2.0 will be leaved by investors.
I do not think that high transaction costs will continue to be a big problem for cryptocurrency market participants. Now there are already about 20,000 different types of cryptocurrencies, and over time, their number will only increase. Such a large number of cryptocurrencies will inevitably lead to fierce competition between them, including competition for the lowest transaction fees. Cryptocurrencies with high transaction fees will not be used and will be forced out of this market.Unfortunately, it is. People are starting to use the blockchain where transactions are cheap. As long as the coin is cheap, then the transactions are cheap. But as more and more people start using it, so does the transaction price.The price of an asset is just one indicator that the cost of transactions is enormous. For comparison, take the same Ethereum and Bitcoin. The price of the first cryptocurrency is several times higher than Ethereum, but the cost of transactions is relatively low. It still depends on how many projects "weigh" in the blockchain.
Do you think transaction fees will be one of the biggest problems for the crypto community in the future? Is 100k tps enough for market demand?Each Blockchain has different transaction fees, some are expensive and some are cheap.
it has become a natural thing because when the exchange rate is very high it will have an impact on gas costs to make transactions and of course accompanied by increased transactions in a cryptocurrency network will also have the effect of swelling gas costs.
Yes you are right. I agree with you. We have to pay transaction fee for withdrwal any currency. That's fine. But which is as famous as the exchange. Its transaction fee increases the same way. which is a problem.There are already 20,004 different cryptocurrencies on the cryptocurrency market and their number will increase every day. Already, many duplicate each other, practically without creating anything new. Under these conditions, competition between them will sharply increase, and since the size of the transaction fee is essential for the participants in this market, this is where the real competition will be between cryptocurrency teams. Having a very large choice, investors will, of course, choose those projects that provide for lower transaction fees. Therefore, in general, on the contrary, I think that transaction fees will fall over time.