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Topic: ETH 2.0 And High Transaction Fees.. - page 5. (Read 1525 times)

sr. member
Activity: 952
Merit: 308
October 01, 2020, 12:41:21 PM
#69
It won't be the demise of Ethereum supposing that it neglects to end the higher charges then it would essentially make another update. An update after another overhaul and that will be the following stage if at any time there's no observed improvement with 2.0. I don't see the explanation while ETH 2.0 will come up short eventually, I can't envision it not arriving at it top notwithstanding the way that ethereum is the biggest blockchain network, so its 95% that ETH 2.0 will prevail with regards to reaching a conclusion of bringing about low exchange expense and different highlights into the organization.
legendary
Activity: 1750
Merit: 1258
October 01, 2020, 12:07:25 PM
#68
The fees are really high right now. In fact, I'm not moving anything, I'm waiting for them to return to normal. I think "DEFI" is causing this whole fee problem.
Surely they are, in proportion, too high. It costs me less in a bank.
hero member
Activity: 2072
Merit: 529
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
October 01, 2020, 11:58:04 AM
#67
These issue of transaction fees can be solved if Ethereum team decided to rebase the transaction fees, just look at other projects in the space like Solana and DOT and other competing projects, they decided to set their transaction fees very low that even if the price goes up the fee will still be affordable
hero member
Activity: 2814
Merit: 576
September 30, 2020, 07:50:15 PM
#66
So far we don't know when ETH 2.0 will be released. However, ETH will continue to exist and grow, although version 2.0 cannot solve the problem of high transaction fees. ETH is the 2nd largest coin in the market and a lot of coins are issued on the ETH platform, so ETH cannot die.
If ETH 2.0 will become a failure in solving this high transaction fee issue, then probably ethereum developers will create another solution that will definitely address the problem. Ethereum will not die for sure because a lot of investors have put their trust on ethereum and if this upgrade will not be successful, i'm sure another upgrade will be made again.
hero member
Activity: 983
Merit: 502
September 30, 2020, 02:54:36 PM
#65
So far we don't know when ETH 2.0 will be released. However, ETH will continue to exist and grow, although version 2.0 cannot solve the problem of high transaction fees. ETH is the 2nd largest coin in the market and a lot of coins are issued on the ETH platform, so ETH cannot die.
hero member
Activity: 1249
Merit: 506
September 30, 2020, 01:52:44 PM
#64
I think Ethereum will still function properly and is the 2nd largest coin in the cryptocurrency market.
People come to ETH because it is a potential coin and has a good development team, some trouble from the fact that ETH 2.0 still keeps its transaction fees high cannot crash the coin.
hero member
Activity: 881
Merit: 500
CyberTrade
September 30, 2020, 01:35:31 PM
#63
The launch of eth 2.0 will be postponed.

Since the multi-client testnet served as an important pathway to Serenity, this was considered an emergency.

Therefore, it cannot be determined that the Ethereum 2.0 rollout will take place in July 2020.

Ethereum will still be around and if eth 2.0 fails then network costs will still be high.
Another postponement can’t help ETH network and many will panic again so if the 2.0 didn’t happen this year then the higher fees can’t be solve by just the market itself. The ETH developer have to listen and see the investors are raising their voice to address the higher fees issues, the 2.0 should successfully implement without any delay.
But he would also be considering the fact that there would still be many hidden bugs in the platform that needs to be solved and if those bugs aren't solved and the launch is hurried then the same can happen just like that of the DAO hack that made the ethereum blockchain to be forked. That was a blunder but not on the part of the ethereum team, also a lot of projects are tokenised on the ethereum chain and thus they have to be careful and should sort most of the critical bugs before rolling out the update so as to be ensured that there aren't any bugs left.
full member
Activity: 1190
Merit: 123
★Bitvest.io★ Play Plinko or Invest!
September 30, 2020, 01:21:21 PM
#62
So many people expect alot to change once the ETH 2.0 is been deployed, some of those expectations is to reduce gas fees and make transactions move faster, but if eventually it fails to live up to the expectations, I still don't think that will be the end of ETH, because it is one of the main bodies of crypto, although it will reduce in terms of price but it won't die, I believe in Vitalik, he won't let us down, I just hope it works.
sr. member
Activity: 2380
Merit: 357
September 30, 2020, 10:12:51 AM
#61
The launch of eth 2.0 will be postponed.

Since the multi-client testnet served as an important pathway to Serenity, this was considered an emergency.

Therefore, it cannot be determined that the Ethereum 2.0 rollout will take place in July 2020.

Ethereum will still be around and if eth 2.0 fails then network costs will still be high.
Another postponement can’t help ETH network and many will panic again so if the 2.0 didn’t happen this year then the higher fees can’t be solve by just the market itself. The ETH developer have to listen and see the investors are raising their voice to address the higher fees issues, the 2.0 should successfully implement without any delay.
full member
Activity: 1316
Merit: 108
September 30, 2020, 10:04:28 AM
#60
Indeed, im afraid many crypto projects and ethereum users will using other blockchain because the fee is too high.
I hope in ETH 2.0, the developers think about how they can reduce the network fees, otherwise new users won't join because very high fee.
I really doubt that.
After UNI hype was settled down - fees turned back to ~$1.00 level as it was way back before, I mean the transaction fees.
Exchange fees are still quite big, but its forgivable imo
Vitalik Buterin and other members of the ETH team expressed their opinion on Twitter that we can most likely expect an Ethereum 2.0 update starting from November until the end of 2020. In addition, I believe that you need to fully complete the work, so that you do not have to work on errors after launch, so "postponing" does not mean bad. In addition, if we talk about the price of transactions, then recently I have seen a significant decrease in the cost of commissions, this is especially noticeable when the price dropped from $ 10 to $ 0.40 - $ 0.70.
sr. member
Activity: 500
Merit: 250
BountyMarketcap
September 30, 2020, 08:01:09 AM
#59
The launch of eth 2.0 will be postponed.

Since the multi-client testnet served as an important pathway to Serenity, this was considered an emergency.

Therefore, it cannot be determined that the Ethereum 2.0 rollout will take place in July 2020.

Ethereum will still be around and if eth 2.0 fails then network costs will still be high.
full member
Activity: 304
Merit: 100
September 30, 2020, 06:30:11 AM
#58
Indeed, im afraid many crypto projects and ethereum users will using other blockchain because the fee is too high.
I hope in ETH 2.0, the developers think about how they can reduce the network fees, otherwise new users won't join because very high fee.
I really doubt that.
After UNI hype was settled down - fees turned back to ~$1.00 level as it was way back before, I mean the transaction fees.
Exchange fees are still quite big, but its forgivable imo
member
Activity: 523
Merit: 10
YOUC - https://www.youengine.io/
September 29, 2020, 11:33:55 PM
#57
Indeed, im afraid many crypto projects and ethereum users will using other blockchain because the fee is too high.
I hope in ETH 2.0, the developers think about how they can reduce the network fees, otherwise new users won't join because very high fee.
hero member
Activity: 2492
Merit: 586
September 29, 2020, 02:43:10 PM
#56
If they could squeeze in a lot more transactions inside one block that would solve all the problems but in order to do that you need to first develop that feature and make it ready plus you need to make sure everyone goes into that blockchain as well, it is not as easy as it sounds, I would do the same if I had the choice but I wouldn't know where to begin.

If they can do that it would allow people to have a lot more transactions in one block to be mined which would make transactions pass a lot quicker and when we are talking about mining one block the difficulty will be same while pay will be the same but this time around people who send money will be paying less because they are sharing it with more people at the same time lowering the cost of it without hurting miners.
hero member
Activity: 2408
Merit: 693
SOL.BIOKRIPT.COM
September 29, 2020, 10:23:35 AM
#55
Hii Everyone

I have a little question .... Sorry if this sound silly but i just cant help but ask

Everyone has been talking about the much anticipated ETH 2.0 and how it will put an end to the high transaction fees which is currently one of the major problems on Ethereum blockchain.

My question now is , what happens if ETH 2.0 fails to put an end to the high fees ?? would this mean the Death or partial death of ether?

(death--no longer used)
(partial death--no longer used like before)

i really don't know what eth 2.0 will bring when it finally comes but i do know that new projects should start looking at other blockchain to Launce their project instead of hanging on erc20 network that has suddenly turn a nightmare for many, there are other fast and cheap transaction network that will also get the job done without any complications, i think eth network is just over hyped, every project wants to be in eth network and now we face the consequences.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
September 29, 2020, 09:37:34 AM
#54
Bitcoin transaction fee is also high. And the emergence of bitcoin cash doesn't even have any effect on the bitcoin. I doubt the case will be different when ethereum 2 finally arrives.
except bitcoin cash is an entirely different thing to bitcoin and it's not even in the same blockchain so it does make sense if it doesn't have effect on bitcoin but ethereum 2.0 is basically an upgrade to ethereum and will probably give significant effect to ethereum because they switched to POS and probably come up with solution against the increasing fee.
sr. member
Activity: 1246
Merit: 259
Seabet.io | Crypto-Casino
September 29, 2020, 09:27:19 AM
#53
I think ethereum 2.0 to solve the problem of high gas costs and others, maybe failing in my opinion will not happen, and ethereum will continue to live and solve all its problems.
member
Activity: 1764
Merit: 10
September 29, 2020, 03:48:56 AM
#52
Ethereum developers see what problems Ethereum users are now experiencing who make transactions and I am sure that Ethereum developers will find some solution, but in general if high transactions will remain the same, then I think people will also continue to make transactions on Ethereum blockchain, but most likely many people simply will try to bypass the Ethereum blockchain and will go, for example, to the TRON blockchain.
legendary
Activity: 2674
Merit: 1226
Livecasino, 20% cashback, no fuss payouts.
September 29, 2020, 03:08:45 AM
#51
As long as the transaction costs are not fixed, there is still a dispute over the transaction via auction to be sent out faster.
ETH 2.0 cannot fundamentally change the nature of ETH in transaction processing. They just make transactions faster. The ICO, DEFI projects will continue to take place and costs will continue to increase.

I don't agree here. Fixed costs will kill the competition for miners, make it another POS coin. Allow people to compete for fees, that's the way Bitcoin shows can keep miners in the game and incentivizes them to keep making the network more popular. Defi and ICO will become use cases but the hype we see now isn't lasting. Just wait.
legendary
Activity: 2296
Merit: 1038
Leading Crypto Sports Betting & Casino Platform
September 29, 2020, 01:00:08 AM
#50
it looks like it has been in design for a long time so the chances of it failing will be very little, because we know they keep delaying the launch of ETH 2.0, it has proven that they really are not rushing to work on this problem and ETH 2.0 can solve the problem of high gas costs in the future, as long as a large community with ETH is unlikely to die
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