Topic: ETH high gas fee - page 29. (Read 23727 times)

This frenzy will never end until there will be another usage through forking ethereum chain to expand the adaptability of ethereum. We have anticipated that this should be done through ethereum 2.0 and definitely that looks so insane to pay a couple of dollars for a solitary exchange. The traffic was becoming so busy brought about by individuals were shorting ethereum market.

Now it went down to 114 Gwei (1.41$) fee per transaction. It's still high compared to the fee's last year or even the year before but it's fine compared to the last week's madness. The Ethereum network is just good but if they find a perfect solution to evade from these fees then it will make the other competitors get reckt.
I do care about the gwei fees, i'm focusing on them to see how the situation is going to be resolved.

dont talk about gas fees guys becouse its heart breaking if you want to trade a simple trade you have to give min upto $10 worth of eth as a fees .i feel so sad for eth

It's been a long time since the launch of eth 2.0 but so far the gas fee has not come down. So what is the benefit of upgrading eth? So eth is upgraded just for staking. Any kind of coin / token transfer from myethwallet or matamask is deducted like 2 dollars.  We are now waiting for the gas fee to be reduced.

Eth gas fees is going very high. And day by day it's growing more. That's a big problem. One year back ethereum gad fees was higher than many platform based token. But last few months it's skyrocketing. After many definitely based projects and dex come to ethereum Cain the chain become more populated. And now we have to pay high amount for that. In the market there are lots of chain available and some of them are technically better than ethereum and some of them are free. But still people and devs like ethereum so they don't hesitate to use ethereum.

Explain the inevitability of implementing ETH2.0. There are indeed many projects on Ethereum, and the transactions are very ordinary. Recently, there have been some important airdrops. Many investors are getting the airdrops and trading immediately, wanting to sell them at a high price. I think they are not too concerned about transaction fees. After all, I want to recharge to the exchange and sell it immediately.

Ethereum based projects are very common and ethereum blockchain is truly most explored network by new project due easy way of creating smart contract at cheaper price but that does not indicate that the gas fee is caused by this. Throughout the year, at least a new project will create a smart contract and deploy their token on the ethereum network but many of them do not have investors that interact with the network during token purchase. The reason for increase in gas fee is the congestion of the network which generally occurs when there is bull runs which make more people to continue to explore the platform thereby increase transaction rate. The gas fee become lower when the congestion is reduced 

Not surprising. The transaction fee is the same, whether you are transferring $2 or $2,000. I agree that it is bad news for the bounty hunters, as they need to do multiple transactions. As of now, there is not much that you can do about it. If the total value of the bounty reward is less than $10, then you may better keep it in your wallet, until the fee gets to lower levels.

This is an unusual thing. I only transferred $ 2 and I saw that the $ 2.5 transaction fee has been deducted. How to deduct more fee than that transfer amount.Hunters are the hardest hit.

such an incident will definitely be very painful, especially the bounty hunter because they have to wait a little longer for distribution and again those who want to sell must be silent because the transaction fee is more expensive than the price of the token, even the launch of 2.0 until now cannot solve this problem. we also don't know when this will end

Maybe, but TRON is ready right now.

Miners cannot set transaction fees, and transaction fees cannot be set by anyone because ethereum transaction fees go up because the ethereum network is overcrowded and many people use it, which causes high transaction fees.

the groth of eth, makes it more demandful and the reason behind huge numbers of transaction.thats why miner charge the high gas fee for their service.even in future, we  may have to face more transaction fee until the version 2 is released.but wallet like Blockchain offering you to set the gas fee and minimize transaction fee but problem is only time.it'll took long time for transaction if you put the low gas fee.

in that case we will be experiencing 3 years of high fee transaction over ether network. the 3 years is enough for projects to migrate to different platforms where we can easily make faster transaction than on eth. For example on Tron or on ADA which is a lot promising. I think ADA will really be ready by 2021.

This is an ETH transaction fee that reaches an all-time high of $6.2x. And this happened before in July 2018 at a  cost  of  touching $5.50.
The enormous increase in wallet addresses and DeFi activity has triggered higher gas in the Ethereum network and although the Ethereum
community is happy with the surge in ETH prices, if this continues, then transactions on the ethereum network can be unsustainable.

currently the cost of gwei for making a transaction is very high and for those who want fast transaction confirmation, gwei required is nearly 40 and even that requires standard confirmation of 196, this is what causes some bounty projects to delay payment for bounty participants because usually the bounty project has allocating a number of eth as the cost of gwei for their delivery but due to the high cost of gwei, of course delays are one of the project solutions or from bounty managers, as are the steps taken by the current psyche.cash project.

The 3 phases will take at least 3 years before completion. The mistake from Ethereum classic is what they want to prevent. Thorough test will be engaged after each phase and users will be allowed to adjust to the changes on the blockchain, the aim is security and stability of the new blockchain. The result of the upgrade will determine the future of the blockchain and success will be remarkable for the space.

Here is some reason for high fees. Now a days lots of crypto project comes in the market legit scam both. And they are coming on Ethereum based network. Because it is in hype its easy to creat and less charge also no need to verify contract to start a project because it has delay verification option. That is why they are coming and they are trying to send their fund to the users fast soo that they can get users trust. That is why they are aggreed to spend few bucks as a fee. Here is the main point lots of project comes and every second lots of transaction has. Made and when this transaction creat its need some time ethereum based network thats why they make option that who pays high fee his transaction made first. For this reason people pay huge fee and fee becomes high.

Until eth versi2 is fully realized we will definitely see high gas continuously. this will stop when the post starts operating. but don't know the exact date, I have seen eth version2 run early last month but it seems like it is taking a while to fully run.

Market conditions and network load will ultimately determine how much you'll pay on the ETH blockchain when sending a transaction or interacting with smart contracts. It's normal to expect fees to become higher according to the ETH blockchain's popularity in the mainstream world. The "De-Fi" hype is what has caused fees to soar all the way to the moon. Luckily, the Ethereum development team have begun the launch of ETH 2.0. It shouldn't be long enough before Ethereum becomes a full-fledged PoS cryptocurrency that will alleviate fee costs within the short term. But for fees to stay low, constant network improvements are necessary. I believe that ETH 2.0 + Sharding + Second-Layer scalability solutions will ultimately solve "high fee" issues. How long this will take to become a reality, will greatly depend on the community itself.

Nonetheless, there are a wide array of smart contract platforms with greater transaction capacity than Ethereum. Blockchain networks like TRON, EOS, Binance Smart Chain, and Zilliqa, have lower fees and blazing-fast transaction speeds. The only downside is that most dApps are built on the ETH blockchain, greatly reducing the aforementioned cryptocurrency's level of adoption in the mainstream world. If developers migrate their dApps from ETH to these Blockchain networks, then people would have a choice to select from one coin to another. Unfortunately, that's not the case as people are forced to use ETH in order to interact with popular "De-Fi" platforms. At least, high fees maintain ETH's level of decentralization. That's what ultimately matters if you want security/reliability/censorship resistance. Just my thoughts