Topic: Ethereum Fees - page 2. (Read 1036 times)

These two factors could be the cost recovery of expensive ETH gas, but maybe this is the business game of the big miners. They are still hungry for profit, all will be done when they reach their goal.

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

its will not drop below 100 if DeFi concepts & uniswap exchange is not stop, the main cause of eth fee are high because of two of that, im very sure if these 2 are stop running on ethereum chain and uniswap will support other token, the eth gas price will drasticly drop below 10.

Ethereum gas free is back to normal, I believe that the fee can still increase in future if Ethereum start surging again, also most DeFi projects are running on Ethereum blockchain so congestion will happen for sure, we have to endure because the 2.0 upgrade won't happen anytime soon

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

It has been a pain this past few weeks to experience the high Gass of eth transactions, I was beginning to wish I can swap my erc20 to other networkwith less transaction fees, if this is what users will continue to experience whenever there is a price increase then there is a big problem, I expect the team to find a solution.

$5? If it is 5 then it is fair enough. The list I have paid so far in gas fee is $10+. And most times are just cheap assets. I am beginning to be worrisome on this eth gas fees. And I keep asking every expert I see if the fee will ever come back to normal. This is becoming extortion from the part of the miners. Something should be done please

The fees to send ETH are minimum $5 in fees ... is it going to change back to "normal"?
Who dictates how much fees are charged?

If ETH is claimed to be decentralized where are those high fees coming from if not from a centralized party?!

Ethereums co-founder vitalik also concerns about the increasing transaction fee of the ethereum.I think they are working on it.But not sure ethereums fees can reduce after the update of Ethereum 2.0.

https://cointelegraph.com/news/vitalik-buterin-warns-high-fees-threaten-ethereums-security/amp

The way DeFi coins are trending on the market if it continues for a year then I think its almost impossible to reduce the transaction fees of ethereum.People wants their transaction to be fast and because of the great interest of DeFi coin total amount of transaction has increased significantly in Eth blockchain.Thats why people are paying more fees to transfer their coin thats why ethereums fees are increasing.So I hope after the update it will be fixed.Because if the fee of 5-6$ we are all suffering.

Ethereum 2.0 is planned to be rolled out in at least three phases: Phase 0, 1, and 2. Phase 0 is planned to launch in 2020, with Phases 1 and 2 to be released in following years.

Phase 0: In the first phase of Ethereum 2.0, the “Beacon Chain” will be implemented. The Beacon Chain stores and manages the registry of validators, and will implement the
Proof of Stake (PoS) consensus mechanism for Ethereum 2.0. The original Ethereum PoW chain will continue to run alongside the new Ethereum PoS chain, ensuring there is no break in data continuity.

Phase 1: The second phase of Ethereum 2.0 will likely roll out in 2021. The primary improvement of Phase 1 is the integration of shard chains. Shard chains are a scalability mechanism in which
the Ethereum blockchain is “split” into 64 different chains, which allows for parallel transaction, storing,  processing of information. At its most conservative estimate it will enable 64 times more
throughput than Ethereum 1.0, but it is designed to be able to handle several hundred times more data than Ethereum 1.0.

Phase 2: The third phase of Ethereum 2.0 will likely be launched in 2021 or 2022. This phase is currently less clearly defined than the above two phases, but will involve adding ether accounts and enabling transfers and withdrawals, implementing cross-shard transfers and contract calls, building execution environments so that scalable applications can be built on top of Ethereum 2.0, and bringing the Ethereum 1.0 chain into Ethereum 2.0 so that Proof of Work can finally be turned off.

Many further improvements are planned for research and development after Phase 2 is complete. Vitalik provides insight into some of these improvements in this easy-to-digest diagram.

now Ethereum's GAS has dropped to 138 Gwei, this is good because it's not as expensive as yesterday, I'm sure it will drop again below 100 Gwei,
Everyone expected that, unfortunately when altcoin down Ethereum Gas also down too

A simple explanation is better than a thousand words, the ETH network works based on hierarchy. Who pays more will get funds faster and the rest will wait until the next mined block clearance happens. The cost of gas has increased a lot and $0.1 worth transactions in 2019 now cost more than $3. ETH2.0 should solve this infinite loop unless the market becomes volatile again.

Already ETH lost its value nearly 30% which is the result of extra fees in transaction. Most investors are trying to avoid Ethereum network transaction or ERC20 token transaction. Hence they are using TRX, XLM transaction for low fees and quick result. In future, TRX and XLM fees may high but people can love to think at present.