I look forward to the integration of the Polygon network (Matic), Chainlink and many other technologies into Ethereum. The burning of fees is making miners less profitable and increasing the scarcity of Ethereum over time. This only increases transaction costs with the increase in the price of ETH.
I believe that Ethereum will have a way to overcome the above problem because if the Ethereum network works out this way, it will only benefit miners and holders. That hinders regular engagement and user experience.
Topic: Ethereum 2.0 what to expect - page 3. (Read 578 times)
As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.
But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
it is too early to conclude mate because we know the power of miners , they are one of the most important factor of every currency and taking their profit that high will bring bad reaction from mining community .But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
though ethereum 2.0 seems to be a complete package and will support users, company and the miners yet this is very early to tell.
The most important thing I'm anticipating is reduction in gas fee I don't know much about the technical aspects of the whole coding as I'm just limited to trading HODLing and sending. It is a known fact that the ETH 2.0 will be a better upgrade to the current mechanism of the Ethereum network. Eliminating the irrelevant fees imposed on us by miners is great.
all of us are seeking this mate, because we don't want to happen what had happened early this year when the gas fee of ethereum is almost or more than the fee of bitcoin transactions . 
What are your expectations from this and how it will affect the overall ethereum ecosystem?
Unfortunately, I'm not technically deep enough to really say whether the planned changes will really lead to a reduction in fees. What I have read suggests that the fees can really drop significantly in times when the network has normal traffic rates.
But if there is hype again (cryptokitties or NFT for instance), then fees will increase massively again. Whether as strong as before the change remains to be seen. I hope that Ethereum gets this problem under control, even if I am not particularly positive. It would definitely be a gamechanger.
I think the Ethereum London hard fork is quite different from the forthcoming Ethereum 2.0, I stand to be corrected though. The London hard fork was done to implement some sort of deflationary feature in Ethereum that is coin burn taking place on every transaction and it looks like it has achieved that because I came across a post on the number of Ethereum burned so far after the London hard fork was implemented, however this doesn't go a long way in solving the gas fee issues although it kind of helped.
On the other hand, what I think we should expect in the forthcoming Ethereum 2.0 is the reduction of gas fees and more scalability, and maybe that is why it is taking time to come to effect, but I know it will be worth it at the end.
So, as you can see, both updates are two different things, where one is already in effect and more time needed to see how effective and efficient it is, the other Ethereum 2.0 is yet to be launched but we can just anticipate what to expect. Therefore, I would say it is a good one for the Ethereum ecosystem, as there is more to expect.
On the other hand, what I think we should expect in the forthcoming Ethereum 2.0 is the reduction of gas fees and more scalability, and maybe that is why it is taking time to come to effect, but I know it will be worth it at the end.
So, as you can see, both updates are two different things, where one is already in effect and more time needed to see how effective and efficient it is, the other Ethereum 2.0 is yet to be launched but we can just anticipate what to expect. Therefore, I would say it is a good one for the Ethereum ecosystem, as there is more to expect.
As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.
But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
It was a good move by the Vitalik and his developers specially that price of transaction fee in ETH network is very much up there. But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
It could possibly compete with BSC tx fee now. I see a very good future here for ETH and its holders, I expect a new ATH within a year or so.
UNISWAP traders will also be glad to hear this specially that for every transaction, you pay almost a 100$ for fees. Moreover, I think ETH is now undervalued probably good time to have more.
The most important thing I'm anticipating is reduction in gas fee I don't know much about the technical aspects of the whole coding as I'm just limited to trading HODLing and sending. It is a known fact that the ETH 2.0 will be a better upgrade to the current mechanism of the Ethereum network. Eliminating the irrelevant fees imposed on us by miners is great.
I don't want to expect much to avoid being hurt in the end. But, I want to stay positive about it.
If the value will be stagnant for a long time, or worse going downward I want to be one of those strong enough to keep it.
Bitcoin started with that. Supporters had the courage to patiently wait for the value to be strong and it did.
Burning the tx fees is a good idea. No more picky miners. I am not against them but if its for a good larger picture then I am in.
If the value will be stagnant for a long time, or worse going downward I want to be one of those strong enough to keep it.
Bitcoin started with that. Supporters had the courage to patiently wait for the value to be strong and it did.
Burning the tx fees is a good idea. No more picky miners. I am not against them but if its for a good larger picture then I am in.
I believe there will be a good improvement of ethereum in the market due to this update or event, infact when there's always an upgrade ethereum it always looks very promising. So this time it will be the same as usual which is reason the growth rate is still steady at this moment. As the matter of fact it's been how many months ethereum becomes not interesting due to the fees.. So this is definitely a big event to happen this month of August..
As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.
But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
1559 is not Ethereum 2.0. Ethereum 2.0 is POS on a beacon chain. Regardless, Aurora on NEAR protocol scales Ethereum now with sharding. But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.
But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
Don't you think this is a paradox? Reducing the emission of ETH will entail an increase in the price, but for the reason you cited with the miners, they will no longer be able to set the price for processing transactions. But what will change? After all, the higher the price of Ether, the higher the price of gas, even with less gas, but with a high cost of Ether, the situation will not change with transactions, this is a utopia. Ether and its network will not fix anything, it's time for developers to switch to new, more convenient blockchains such as Near, Solano, Polkadot, which one of these projects in the future will 100% replace Ether with its outdated technologies But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
EIP-1559 aims to reduce the volatility of Ethereum fees by introducing a mechanism to eliminate some of those transaction fees, which should slow down token issuance. The impact on the price of Ethereum could be similar to a Bitcoin halving event, where adjustments cut the supply of bitcoin and push its price to record highs. There are a lot of numbers floating around in the market about the potential impact that has a halving magnitude with Bitcoin, they are all pretty positive drivers that I think have seen a pretty strong revaluation.
The ethereum London hard fork will eliminate miner hold on the ethereum blockchain. The transaction fees will now reflect the true network system, miners will no longer manipulate the network just to increase transactions fees.
It seems like that ethereum developers are changing its plan to not eliminate the miners. As far as i know that miners have been significantly contributing to the network. I do believe ethereum will be going to the hybrid mode. Miners have no power to manipulate the traffic dude, Think again 
Ethereum 2.0 is expected to mean that ethereum is almost 2k the way in which the demand for investment in the market is going to increase for the price increase is going to cross 3k this year the bull run will return to the market again. Ethereum should be held to make more profit without selling to increase the price of ethereum This is a new opportunity to increase prices nothing will affect it because the demand for investment in the market is increasing.
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What to expect? I am sure we all expect that can make ethereum get another bullish time to lift the price can back to $3,000 from the update so we can back to make a big profit. But it seems the change will happen later and not have a direct impact on the price. However, the price can increase to $2,800 before, giving a chance for the price to increase more. Hopefully, that can happen this weekend or next week. I hope we all can be ready to sell ethereum at our target price.
I'm not really aware on what's with Ethereum 2.0 does it make the transaction much cheaper? if that's the case well then I think it would be much better but I don't like the idea of the burning though it would increase the price the supply would decrease. What could be the advantage of the Ethereum 2.0?
Err? Supply and Demand? Less supply and more demand = price going to spike, basic economic law.
But we need to wait and see what will be the effect, we can't see it right away. I'm not sure if the fees are going lower though as of this time, it is still very high and the complains keeps going again. The fork was supposedly solve this issue and yet we are not seeing it. But I will give it a benefit of the doubt, and wait like a week or two after the implementation to see the the most touted impact on the fees.
People says that this Eth 2.0 will reduce the Etherium transaction gas price. Even if ETH 2.0 solves this problem, its no good for investors for gas fees to go down. Lowering gas fees would mean lowering the demand of coins which will bring the price going down. Its simple supply and demand. A small $20 ETH contract will cost you $50-$70 in fees. And how are they gonna solve that? make the fees $10? Thats still ridiculous for a $20 transaction. Make is $2? YES! So ETH 2.0 will kill ETH itself. Thats funny.
It took very little time to draw conclusions. Only part of the fees will be burned, and this will slightly reduce coin inflation.
So far, miners receive a large reward and every year the POW algorithm generates more than 4,200,000 new coins.
The most interesting thing will be when these coins stop being generated and Ethereum becomes more expensive.
The last point about when ETH will stop being generated is an interesting one, but as theory dictates the process for minting new coins gets exponentially more So far, miners receive a large reward and every year the POW algorithm generates more than 4,200,000 new coins.
The most interesting thing will be when these coins stop being generated and Ethereum becomes more expensive.
difficult so what might affect the price more rapidly is not so much the supply side (which is slowing down over time) but the demand side, and if the London
upgrade delivers on fees I think the demand will take ETH price to a new level. The market has moved already but the true potential is to be observed in due course.
Finally the long awaited event has been carried out, the Eth 2.0 has been launched after the long wait, well there is no effect yet on transaction fees, let's just see how the coming days will be like, all we got to do is sit and watch how the eth 2.0 plays out, for me instead of waiting I do uses the Near protocol blockchain which posseses the hyped features of the Eth 2.0, even creates a greener option for the ethereum users using Aurora built on the Near blockchain.
Yeah, current fees are way too high and we would see those effects maybe in weeks time or later days since we arent still in 24 hours before that London fork event happened.This is actually a good change on where burning out those ETHs which as this would go for long term then ETH would be lesser and lesser and it isnt bad to consider to make
some investment or holding some Eth as of this moment yet we can already presume on where it would be heading.If demand would be getting more bigger and the
overall supply is getting lesser then expect for some high price in the future.
Finally the long awaited event has been carried out, the Eth 2.0 has been launched after the long wait, well there is no effect yet on transaction fees, let's just see how the coming days will be like, all we got to do is sit and watch how the eth 2.0 plays out, for me instead of waiting I do uses the Near protocol blockchain which posseses the hyped features of the Eth 2.0, even creates a greener option for the ethereum users using Aurora built on the Near blockchain.
The eth 2.0 has been overhyped already and pretty much the transaction fees won't go any lower instead everything on eth will increase cause mining of Ethereum will stop and the primary way to generate new tokens will be from staking. It's supposed to be the year for ETH2.0 but with the way things are going it seems it won't happen until 2022. Sure till then Ethereum would be much better I guess. The vision of the ETH2.0 is to bring Ethereum into the mainstream and serve all of humanity,making Ethereum more scalable, secure, and sustainable. And I see this attributes happening already in the NEAR Ecosystem. Just a better version of the overhyped ETH2.0
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