Topic: Ethereum 2.0 what to expect - page 4. (Read 578 times)
The London hardfork is done successfully but we're not yet to see the effect of it with its decreased in transaction fees. We'll see that for sure but right now, we have to wait until everything settles as it's still fresh. Current fee is high at 60 gwei and that's really unlike before the London hard fork which fees have been seen on 1 gwei which was really low and awesome at that time. But we cannot do much anything about that and wait until the result of it takes effect.
It makes it more decentralized and stops greedy miners but it will not make the coin worth more than it is now a lot of people are not aware of the corruption that miners could bring to the coin.
I believe the hard fork will eliminate the miner’s manipulation and making fees decentralized from miner and network will control the transactions fees fluctuation, making the ethereum free from being artificially congested by miners all to hike transaction fees. 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 makes it more decentralized and stops greedy miners but it will not make the coin worth more than it is now a lot of people are not aware of the corruption that miners could bring to the coin.
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.
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?
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?
Obviously, as it burned and getting scarce, the price will definitely increase overtime.
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?
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?
Obviously, as it burned and getting scarce, the price will definitely increase overtime.
But at this point, it's too early to say what will happen in the future. There could be another road block for Ethereum in such a way that the price will be stagnant again for a while before the devs will find another solution. So don't get excited, scarcity is good in the long run though but it will take some time to really see the outcome.
What are your expectations from this and how it will affect the overall ethereum ecosystem?
it seems like the burned mechanism will fight the inflation that is already generated by the miners. In my opinion, if this mechanism has become an alternative way to prevent the inflation in ethereum blockchain caused by miners and at the same time, the ethereum blockchain will not lose its decentralization.
The new fees mechanism will attract more and more developers that already migrated to the second layer solution to go back again to the ethereum ecosystem
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.
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.
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?
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?
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