ETH 2.0 And High Transaction Fees.. - page 6.

YOSHIE

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Quote from: Fivestar4everMVP on September 24, 2020, 04:09:56 PM

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?

as we know everyone makes a lot of transactions using the Ethereum line, I myself am also annoyed that the withdrawal fees spent when transactions are very high, far from the usual gas.

This is burdensome for all parties who use transactions with Ethereum, but for now, inevitably have to do it.
For me Ethereum does not have to die, but they have to fix all the gas that is emitted every transaction as usual/normal.

They should think about it as soon as possible, considering the Ethereum transactions per day are very high, hopefully it will be normal as usual.

FontSeli

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Quote from: Igor17Krik on September 28, 2020, 01:39:03 PM

I think that everything will be fine and ETH will successfully switch to proof of work. It cannot be otherwise. Billions of dollars are now in the accounts of big players. I see that everyone is just investing, not withdrawing funds. I think everything is just beginning!

When you do not understand the topic of discussion, it is better not to write anything. We are all waiting for Ethereum to switch to a new type of mining called Proof of Stake. Mining will be carried out by those who store a certain amount of ether on their wallets.
The cost of gas may not change due to a change in the algorithm. Additional changes must be made that will affect the scalability of the network.

leatutz

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Quote from: Igor17Krik on September 28, 2020, 01:39:03 PM

I think that everything will be fine and ETH will successfully switch to proof of work. It cannot be otherwise. Billions of dollars are now in the accounts of big players. I see that everyone is just investing, not withdrawing funds. I think everything is just beginning!

I don't understand what you are saying because Ethereum is already running POW and will switch to POS. I think op didn't check the Ethereum 2.0 transaction per second. By their announcement, Ethereum 2.0 will have a 10k TPS. This high speed transaction cost must be lower than Credits transaction cost which is now 0.0014 USD.

Igor17Krik

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I think that everything will be fine and ETH will successfully switch to proof of work. It cannot be otherwise. Billions of dollars are now in the accounts of big players. I see that everyone is just investing, not withdrawing funds. I think everything is just beginning!

Miaallen

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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.

jostorres

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ETH is not a place that can stop developing after a certain level, if transactions keep going up and up eventually they can create newer and newer stuff to lower it, we do not have to just have one version forever. Obviously they are a bit too late to do anything about this current high fee situation but that is only because they were already working on something new, with the 2.0 out of the way eventually and eth becoming proof of stake, they will have a lot of free time to work on lowering the fee situation.

Basically this means at least few more months or even half a year of high fee's unless they stop dealing with 2.0 progress and start working towards making fee's easier, which I doubt they will do which means we have another half a year of high fees if the hype doesn't slow down.

lifeOK

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Quote from: todiefor17 on September 28, 2020, 09:51:39 AM

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.

There some points transactions fee must be fixed. We're eagerly waiting Ethereum 2.0 launch however here we believe some major changes. Eth most valuable assets, without it there is no DeFi, no smart contracts.

todiefor17

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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.

Pamadar

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Quote from: Warkop on September 28, 2020, 02:48:24 AM

For high ETH transaction fees in my opinion it all depends on the user, because users want the transaction to be confirmed fast so many users use high fuel costs and for miners prefer to take high gas costs than cheap ones to do.

And it should be fixed by the team, they should provide good ways for every one to use the chain without paying extra to be able to
process much quicker.

Quote from: Warkop on September 28, 2020, 02:48:24 AM

So that the increasingly rampant transactions of those who use low fuel costs inevitably have to impose very high fees if they want to be confirmed quickly. So all of this has nothing to do with ETH 2.0 and is not going to die.

Looking forward that this process may able to take good care after the ETH 2.0 are being presented.

giammangiato

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Quote from: Fivestar4everMVP on September 24, 2020, 04:09:56 PM

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)

If ETH 2.0 will have high fees I think that the project will end and because fees for 90% of users are very important, but if this new project will have new application and the payement of these fees justifies it there won't be any problem

NASdaq

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ETH 2.0 should increase TPS, therefore fees should be lower. But the main question - will this TPS be enough?

Warkop

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For high ETH transaction fees in my opinion it all depends on the user, because users want the transaction to be confirmed fast so many users use high fuel costs and for miners prefer to take high gas costs than cheap ones to do. So that the increasingly rampant transactions of those who use low fuel costs inevitably have to impose very high fees if they want to be confirmed quickly. So all of this has nothing to do with ETH 2.0 and is not going to die.

oscarftw

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Quote from: Fivestar4everMVP on September 24, 2020, 04:09:56 PM

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)

ETHEREUM 2.0 will launch to minimize the all problem that's already had in Ethereum blockchain. Ethereum transaction per second is very slow than others blockchain even transaction cost. Ethereum founder could lose these users who's don't want to agree with the high cost. Proof of staking is another feature of Ethereum but TPS and cost are also on focus.

ampu

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ETH 2.0 is just one of the solutions to reduce costs but I believe the cost is only slightly reduced. The more DAPP on Ethereum increases, the more people will use it.
Transaction costs on Ethereum in the form of an auction are not chronological. So there will continue to be auctioned to get confirmed faster that keeps the costs up.
Ethereum needs to change its confirmation chronologically to solve the transaction cost problem.

wack slacker

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The problem with ETH is the mechanism of buying VIP tickets, auctions are still going on even though ETH 2.0 could help with transactions faster. People continue to compete for their transactions to be submitted faster, especially in Presale situations at DEX.
As for ETH 2.0, transaction costs could decrease, but not by much.

MCobian

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I'm sure the Ethereum developers team will do their best, so that ETH 2.0 will solve the problem with high transaction fees.
But if it fails in the end, it's likely that users will look for alternatives that have cheaper transaction fees. Because users definitely
want cheap and fast transactions. But I believe that Ethereum developers will be able to overcome the problem of higher transaction
fees, which is still a hot news which continues to be discussed until now.

TimeTeller

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Quote from: JeffBrad12 on September 26, 2020, 06:21:42 PM

It would not be meant death for ethereum but the developer has the more time to do another proposal that can fix the problem that has faced by ethereum.
The proposal for the upgrade of ethereum can be released anytime and when the proposal is not effective to fix the problem and ethereum core developers will think for another way to do that. But i believe when each block of ether can process up to 1k tx/s and it will be enough.

I don't think eth developers will let that situation to happen, death or partial death, whichever it is.
They will surely resolve this ongoing problem and I guess, they are not just sleeping on this current bottleneck from its users.
They are aware of this situation because everyone is complaining about this ridiculous fees, maybe they are not just disclosing what they are doing behind the preying eyes of the community.
Let us all hope that they will give their side along the resolution as soon as they can. Because this is already taking toll to most of its users.

JeffBrad12

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It would not be meant death for ethereum but the developer has the more time to do another proposal that can fix the problem that has faced by ethereum.
The proposal for the upgrade of ethereum can be released anytime and when the proposal is not effective to fix the problem and ethereum core developers will think for another way to do that. But i believe when each block of ether can process up to 1k tx/s and it will be enough.

Princejebs

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Quote from: Fivestar4everMVP on September 24, 2020, 04:09:56 PM

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)

Well, according to some developers, Ethereum 2.0 is far from what and when everyone is expecting. It will take time than how many are anticipating. The testnet has been released which is already launched and working, I can't really say there can be a point of failure on ethereum 2.0 global adoption.

bobyhodob

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Quote from: Rafiqul on September 26, 2020, 10:33:18 AM

Quote from: Fivestar4everMVP on September 24, 2020, 04:09:56 PM

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)

All of us who have been working with cryptocurrencies for quite some time are waiting for the rise of Etherium 2.0. We hope Ethereum 2.0 will solve the latest problems, especially Ethereum's high transaction fees. And if it doesn’t or it fails, crypto users will be forced to think of alternatives; Although this does not kill Etherium, it is likely to cause extensive damage.

If you look at currently there is a Uniswap project that has a new trading method and makes ethereum transaction fees higher because the Uniswap project is based on ethereum so all transactions use the ethereum platform which ultimately makes transaction fees even more expensive.

Topic: ETH 2.0 And High Transaction Fees.. - page 6. (Read 1622 times)