Ethereum Gas Fees recording heights, Is Polkadot or ETH2.0 a solution?

[Selina31]

The gas fees of ethereum have been surging nowadays. It also touched the heights and according to some reports, the ETH gas fees has touched $ 7 million for the month of August 2020. So what do you think is the solution?Read more

[I-Bit]

The gas fee of ethereum platform is really high, it is very different from what happens to the erc20 platform where they only need small fee transaction. It is used to be a solution when people are felt of losing their money. However, the gas fee of ETH makes many transactions delayed, make many people hold their tokens on their wallet.

[Cryptoz]

It is true that Ethereum gas is very expensive and it is very annoying now. If there is no change from the Ethereum platform, Polkadot may be the solution for people and people may move from Ethereum to other platforms. Polkadot is a new project and DOT seems like a new hope for people to get a lower fee transaction.

[yohananaomi]

There is no solution that can be taken because the policy remains with them what can be done is not to make transactions for a while or look for other alternatives. but there must be a way out that can be taken for the common interest.
In fact, there has been a change in gas between ethereum, but for other altcoins there has been no significant development.

[krypto4uvak]

I don't understand what is happening with the gas at all. Yesterday I wanted to send coins and the commission was $ 13. This is ridiculous. I'm at a loss.

[hair]

Many people are burdened by the high cost of ETH gas fees. This is very disadvantage to projects using ETH plafforms that have to pay more. If polkadot can be a solution this is good news. we'll see what the future looks like.

[tinakoya]

It's known that probably the DeFi project has made Ethereum network congested hence gas fees increases. What i've noticed is that when sending Ethereum to another wallet the gas fee is way less than when you're sending tokens. Why is this though?

[Almasani]

It's known that probably the DeFi project has made Ethereum network congested hence gas fees increases. What i've noticed is that when sending Ethereum to another wallet the gas fee is way less than when you're sending tokens. Why is this though?

I am also monitoring the current gas costs, but sending Ethereum by sending Tokens also costs the same gas.
The gas cost is currently 0.009 Ether.

Blockchain.com


https://etherscan.io/gastracker

[Ten Ryuu]

Many people are burdened by the high cost of ETH gas fees. This is very disadvantage to projects using ETH plafforms that have to pay more. If polkadot can be a solution this is good news. we'll see what the future looks like.

Indeed, this might cause people to avoid ETH at all.  There is only one solution to this.  It is for the developer to revamp their tx fee system.   If the developer don't act fast about this problem, they will find their users staying away from ETH to avoid this very high fee.

[@chison]

The gas fee for ethereum transaction is just too high. Paying 10$-40$ transaction fee is not sustainable way to trade. ETH need other competition to keep it on its toe.

[MrSpasybo]

Polcadot is just a multi-chain solution project aimed at increasing the liquidity of crypto assets on blockchains, and I don't think it is a truly efficient scaling solution for Ethereum. I am looking forward to the success of ETH 2.0, if the scalability reaches 1000-3000 tps, I think all of problems related to transaction costs will be solved.

[hair]

Indeed, this might cause people to avoid ETH at all.  There is only one solution to this.  It is for the developer to revamp their tx fee system.   If the developer don't act fast about this problem, they will find their users staying away from ETH to avoid this very high fee.

I hope ETH provides the best solution, many people have complained about high gas fee. Customers not only need fast transactions but also low costs

[LogiC]

This make the crypto trading especially on atomic swap dex type to be hard. If you are using uniswap and you can check the current price of gas fee is not that worth it to do any trading for now. I suggest medium trader to avoid trading for now until the gas fee goes back to normal cause this will really bleed to traders.

[syedrasool2011]

I just tried to swap a token on Kyber and it came up with a $70 gas fee. Something has to be done to fix this or the entire crypto market will crash. I remember when Bitcoin's transaction fees went to $50 in 2017 and it crashed. If REAL investors can't even buy, then it will crash for sure.

[Syunusa]

The way gas fees is surging is a thing of concern as it affecting a lot of thing that support to be done with less gas fee and I believe polkadot will be the alternative