Topic: Ethereum and additional gas fees (Read 613 times)

Yah ever since the crazy Market pump and many DApps launching on ETH, it's network became congested which led to the high gas fees and currently swapping on uniswap seems to be only for the rich as it's fees is so crazy, i don't know I get so pissed off with it's  high fees! Because nobody can be happy loosing money, I think some how Ref finance offers something better, it's just like uniswap and it's trx fees is so low that u don't notice the fees tho, well there are still new but got alot to offer and currently you can bridge your eth token to Ref and swap to any coin of choice in the ref finance at a very low cost, this makes me love them the most.

after the rise of bitcoin before the effect includes fees on eth, maybe the influence of taxes from third parties so that gas has an effect,,, in this case we should use buying and selling just a little,, to save. and we must also monitor gas prices because when we process slow network transactions it has an effect too

I don't understand who and how uses all these useless swaps on Ethereum... Maybe this kind of people is named "sponsor"? Or even "maecenas" I suppose - they are just giving their money to miners and liquidity providers.

Indeed, we must admit that until now there has been no improvement when it comes to using the ethereum platform, which is still very expensive. but I also seem to have to give a response, that apart from the already high cost, it is better not to use uniswap. because transactions with Uniswap are indeed very detrimental.

because I also experienced several transactions on Uniswap, if the fees charged were low then Uniswap asked to add to the transaction so that it could be faster, but again instead of completing the transaction it became canceled and the fee was deducted.

if you can, indeed the ethereum platform is already high and don't use uniswap anymore because it doesn't solve the problem, it's even more detrimental. advice not to make transactions using uniswap, even though you get convenience because the transaction is quite simple, but the costs are actually doubled.

can't compare transaction fees through binance with ethereum, I agree with you that currently binance is one of the platforms with fairly low fees and fairly stable speeds. so binance is widely used today by almost most new projects, because it is to avoid the expensive costs.

I think many have experienced like you, when they are about to make transactions but the fees charged by the ethereum platform are often higher than those that will be sent.
quite sad and indeed one of the obstacles is the traffic that is indeed dense for the ethereum platform. You need to be patient to wait for the fees to go down by looking at: https://etherscan.io/gastracker before making a transaction.

what you say might happen, because it's logical. if there are many who use it, the traffic will automatically be quite dense and it is natural that high costs will occur. for now it looks like binance and others are still not brave enough to make cheap changes. because binance hopes it will be able to screen more people who want to join. It won't be easy to immediately make changes to the costs that everyone is expecting them to have.

ethereum will definitely change its pattern to keep its users from moving and want to stay loyal to the ethereum platform. however ethereum have to change otherwise one day everything will not use the ethereum platform. although we must also admit that all projects based on the ethereum platform always have more value compared to other platforms.

Yes. Of course this provides a great opportunity for new blockchains to attract crypto developers to join them. Of course this condition is well utilized by BSC. As long as the Ethereum blockchain experienced high transaction fees, most of the new projects switched to using BSC.

it's no secret that ethereum is one of the networks that has expensive gas fees. I see that ethereum has not shown low gas fees yet. maybe ethereum can see this condition so they can lower the gas fee a little because they see the ethereum community is very large and complain about the high fee.

fees on BSC and even Matic are going higher as more users join in and use the network, it's obviously not as high as ethereum fees but that's what happens when a lot of transactions are being made, I think fees should not be higher than $5, because that would not make sense if you're trying to buy something small using crypto, and without even mentioning swapping tokens on ethereum's network which is absurd for people who have low amounts, Ethereum network became for the rich only.

It is really getting too much these days, and a lot of people are now trying to avoid Ethereum because of the fees that’s involved in making use of it. I do understand that for a lot of reason, the fees for Ethereum is going to be high, but this is something that they (the developers) should try to fix as soon as possible because it is now an issue that is beginning to scare off a lot of people investors; a lot of investors are now avoiding the Ethereum blockchain for this reason, because they know that if they are going to be making use of it they will have to be paying a lot of fees for it, just like you have experienced. Everybody is still hoping for the Ethereum 2.0 to bring a solution to this problem. So let’s keep hoping till then.

It's because smart contracts are not a standard for tokenization like it is with Ethereum. Most functionality is built into the ledger itself. Tokenization can be done by a simple minting policy script in any scripting language supported by Cardano.

Look here: https://cardano-ledger.readthedocs.io/en/latest/explanations/features.html

The effect is being brought out from new projects; those developers and investors are looking for good alternatives; they are now switching to other chains who offer lesser fees. They wanted to skip this chain due to high fees; more or less BSC is one of those alternatives, and we have seen that now from new projects and also those old ones who are now migrating to BSC.

We, as investors, we all want to find alternatives as we are annoyed, paying huge fees; sometimes, the fees is more higher than the token that we are trying to move.

Funny, but that's reality and that happened, small traders can't afford these kinds of transactions.

I really can’t wait until ETH 2.0 comes out. I mean everyone loves the ethereum network but this gas fees are fucking insane. I’ve personally made the switch to NEAR right now since it does everything ETH 2.0 promises to do but fuck it’d be amazing to use both. Especially with Auroras seamless bridge connecting ETH and NEAR, being able to go back and forth from network would make all of my dreams become reality!

I did see the difference at first, and actually if you look it up on block explorer also you can see much more easily what actual fees are (and you can objectively see that there is a very slight improvement in how much people pay on average,,,

Yes it is still very high there is no argument about that but it could be much higher.

Bounty campaigners,,, stop looking for tokens and start getting paid in real crypto then

This Ethereum Gass fee is really not encouraging at all, imagine I wanted run do transaction of 19$ and the transaction network fee is above 20$. It's really annoying but I understand it is due to how busy the network is because of many transactions, unlike Binance Smart Chain, which requires transaction fee of less than 1$ for some transactions.

And that's exactly, where the "native token" concept of Cardano comes in. (in my opinion) Tokens in the Cardano chain can be set up without having to issue a smart contract, which makes transactions faster and way cheaper!

No, I'd never see a huge difference in fees before and after the hard fork as for me, the fees still aren't worthy for that. We're hoping that the hard fork will be the solution to this problem but too sad it fails and we become hopeless. Maybe we can see it was not a problem for those who transfer huge amounts of ERC-20 tokens but for those who are in bounty campaigns and wanted to sell the reward that is clearly a burden to them. That is why I understand their situation and I believe we have that kind of feelings.

it seems that for new projects, the effects of the high costs are already visible, because most of the new projects have left erc20 because of the high cost problem. because every project is completed, payment with erc20 will certainly take up a large fee. that's why now many projects are starting to switch to not using erc20 and looking like bsc, trx etc.

Likewise, as you said, if possible, of course, we will try our best to find trades with low costs. now everyone is trying like you, to make innovations. because you don't want what you get will be eroded at high costs. no one would want today to pay a high price, while the cheap ones exist and the speed is also very good and well tested.

Well, depends how you look at it,,, gas fees are high for sure, but probably not as high as it might have been without the hard fork. But I do not use these days any other transaction other than normal spend so I would not know how NFT minting costs but I assume it is still beyond the means of most ordinary people.

Small fees is always good sounding until something bad with network security undoes it all.

actually it depends on the amount you want to dump, if you adjust the fee into the lowest value of course there's a possibility it will stop or cancelled. By the way mate If you want to swap your token i suggest used meta mask and convert your wallet into bep20 like what i did wherein i paid BNB instead of ethereum and it's very cheap.. Lol this isn't a joke, try  to make research how to do it, you will see some tutorials "ER20 to BEP20" around the internet..

Ps. In meta mask you can a costume a networks that's why it's possible. 

I don't seem to understand why most people still want to use Ethereum even when they can't afford the high gas fees, no point forcing anything eth gas fees won't be going below $1 anytime soon, so instead of complaining I would everyone to move to a better blockchain with low gas fees and fast tps, the likes of Near Protocol, elrond bsc etc, Near Protocol is even the cheapest of them all with a $0.01 per tx fees bsc is getting close to $1 already so I'm sticking to Near for now.

Indeed Ethereum network is the most expensive transaction gas fee. Because of this matter some investors are in difficulty to invest due to so much gas fee. That is the reason why Bep20 base tokens now are in demand because of lower fees compare to ETH. $20 gas fee for ETH compare to $1 gas fee for BEP20. By the way there are a lot of blockchain now with lower fees and super smooth to do transactions.