Topic: Ethereum gas problem to be resolved in July - page 2. (Read 1011 times)
I am still not too sure that ethereum 2.0 will be the answer and solution to the expensive ethereum gas fees that are currently happening, therefore I prefer binance, binance / BNB requires a gas fee which is much cheaper than ethereum, if this continues, then I'm sure binance will replace eth
Most of the projects recently launching Binance Smart chain plafrorm due the high exessive Ethereum network fees.
Even if they want to, circumstances are not favorable, the bounty distribution alone will cost them a lot, and Binance Chain is also as good as the Ethereum chain, cheap fast, and managed by one of the industry leaders in Cryptocurrency, Ethereum is losing momentum and BINANCE is gaining a lot of users of their chain.
I can't believe it. I certainly hope that the problem will really be solved.
We've been waiting for a very long time, and it's strange that they can't solve this problem for so long.
We've been waiting for a very long time, and it's strange that they can't solve this problem for so long.
Really? How if the fee is higher and higher again moreover when the price of Ethereum is increasing again?
Haha, I don't know how to trust them but so far, the high fee really hurt, and feel so hard to transfer the ERC20 tokens. Moreover, it is not only about the price of ETH. but most ERC20 tokens prices are low, but the fee is damn high
Haha, I don't know how to trust them but so far, the high fee really hurt, and feel so hard to transfer the ERC20 tokens. Moreover, it is not only about the price of ETH. but most ERC20 tokens prices are low, but the fee is damn high
Good to hear this news. I just hope that it is legit and not just a hype. If this resolved will happen in July, maybe by that month ethereum price value will pump. Many people will experience convenience therefore they will utilize it.
Meanwhile when the time comes, Ethereum prices dump so hard and make the gas fees back to normal again 
. waiting until July is so long tbh as we need the gas fees reduce now to send our tokens. Just let's hope it will be true and Ethereum with other tokens price not dump
We will see the result from this EIP as soon as a possible dude. it looks like that if it's just a matter of time until the implementation for EIP1559. The only problem is if POW consensus is not even fair consider it was putting miners as the main thing to determine what will be the update that can be implemented in the network soon. If miners don't like it they will reject it and if miners will like it and they will accept it. . waiting until July is so long tbh as we need the gas fees reduce now to send our tokens. Just let's hope it will be true and Ethereum with other tokens price not dump There must be some adjustment before the proposal can be implemented into the network soon.
people are not being patient anymore because they have tokens that are waiting to be traded with. but yes, i believe eth dev team is doing their best to address this issue. they know that the competition out here is real. developers are starting to utilise the BSC platform and others like DOT. so they know what is at stake here. but hopefully, it is not too late for them when they finally resolve this major prob
Meanwhile when the time comes, Ethereum prices dump so hard and make the gas fees back to normal again . waiting until July is so long tbh as we need the gas fees reduce now to send our tokens. Just let's hope it will be true and Ethereum with other tokens price not dump
We will see the result from this EIP as soon as a possible dude. it looks like that if it's just a matter of time until the implementation for EIP1559. The only problem is if POW consensus is not even fair consider it was putting miners as the main thing to determine what will be the update that can be implemented in the network soon. If miners don't like it they will reject it and if miners will like it and they will accept it. . waiting until July is so long tbh as we need the gas fees reduce now to send our tokens. Just let's hope it will be true and Ethereum with other tokens price not dump There must be some adjustment before the proposal can be implemented into the network soon.
if this is truly achieved then it will be massive boost for ethereum and solve the daunting problems of high gas fees. well it just seems like a promise full of hope, untill its achieved, we keep performing eth transactions when necessary. although some miners will not want to agree to this development, there is definitly no choice for them.
I believe most of those eth tokens already decreased its value, that's why many eth token holders are complaining. Because they can't transfer their tokens because of high gas fees or they can transfer it but they are paying high gas fee and they are not profiting from their tokens. Right now, small eth users are really in tight belt with this problem. Let us hope that Buterin's team is already making progress in addressing this issue. Else, people will indeed go to other platforms like BSC or ADA or DOT.
That's true, many coins already lost value because people couldn't sell it and they became worthless, but the main reason was actually people failing to buy them, because if you tell people that they have to spend minimum 30-40 dollars just to buy something, they will obviously end up not buying it, you first need to give an approval which costs a lot, then you have to trade it on top of that as well, that is really a lot of money, at one point that was 100 bucks at peak levels. So, we are talking about people not buying it and that causes the prices to drop.But come this July, when things become very cheap again, we could see a huge increase in them, I think it is good idea to buy right now even with those huge fee's because you may end up with a good increase in price after July, it may not be on the first month but it eventually could go up.
Meanwhile when the time comes, Ethereum prices dump so hard and make the gas fees back to normal again . waiting until July is so long tbh as we need the gas fees reduce now to send our tokens. Just let's hope it will be true and Ethereum with other tokens price not dump
. waiting until July is so long tbh as we need the gas fees reduce now to send our tokens. Just let's hope it will be true and Ethereum with other tokens price not dump Many of us are deservedly outraged by the high gas price that has recently been paid for moving ERC-20 and ethereum tokens. However, the solution to this problem is already approaching. In July, in about four months, as part of the improvements to Ethereum 2.0, it is expected that high gas prices will go away, if not forever, then for a long time.
Ethereum Improvement Proposal (EIP) 1559 is the most anticipated improvement along with increased scalability for the network since the launch of ETH 2.0.
We hope that the staggering popularity of Ethereum will not only recover, but also soar to an unprecedented level.
Link:
https://beincrypto.com/ethereum-developers-eye-july-gas-saving-eip-1559-launch/
Ethereum Improvement Proposal (EIP) 1559 is the most anticipated improvement along with increased scalability for the network since the launch of ETH 2.0.
We hope that the staggering popularity of Ethereum will not only recover, but also soar to an unprecedented level.
Link:
https://beincrypto.com/ethereum-developers-eye-july-gas-saving-eip-1559-launch/
This is nice to hear. I'm an Ethereum supporter and I really can't wait for this thing to actually happen. Though they said they don't think those changes will have an impact on Eth price I still believe it will have. There are still a lot of people out there waiting for Eth gas price to become much more cheaper and I'm sure when it happens those individuals will surely create an impact to Eth price.
The EIP-1559 update should result in a dynamic adjustment of fees so that users pay the lowest rate per block. Due to lower commissions, projects will return to the Ethereum blockchain and there is a high likelihood of an increase in the price of ETH.
The miners are not feeling happy with it as they will be losing another source of income. The adjustment that will be brought by EIP1559 could be a disaster for miners especially the big mining pool. Imagine when people could pay less than 10 cents again and that will make miners got nothing.
Im supporting this update but the main thing should be how to make the miner will be agreed with it.
I really this happens by July or even Sooner than that because we are spending so much on transaction fees unlike before where one can send tokens with little fees .U hope things will soon return to normalcy so that we will not spend so much for carrying out transaction of any kind.
The EIP-1559 update should result in a dynamic adjustment of fees so that users pay the lowest rate per block. Due to lower commissions, projects will return to the Ethereum blockchain and there is a high likelihood of an increase in the price of ETH.
Yeah, the impact would be on the miners. Their compensation will be lesser but as long as the fees get lesser, there will be more transactions that shall make their profits go along with how much they earn today.I'm also guessing that many projects will go back to the Ethereum network for their project once it's really solved the network and fee problems.
I hope that happens because he already mentioned that few month ago in 2020 and nothing has change, so for now we just expect that will happen and change the gas cost for every transaction.
but in this case bsc already start the way and take more attention from many users, if eth still hold this maybe bsc will take over someday.
but in this case bsc already start the way and take more attention from many users, if eth still hold this maybe bsc will take over someday.
because of the high fees on eth netrowk, a lot of project already move from Eth chain to BSC now,
and hopefully this high fees on ethereum network will be over on july as written by the OP
I hope it can be happen in July because if the gas problem still cant be fix it, it gonna be bad for ETH future.
Right now i only use BNB for the transaction because it's so expensive when i want to sending token with ERC-20.
The main fear is transformation, users are switching to another blockchain. So many new projects are forcing us to use other blockchain, especially Binance chain, Tron blockchain. Those users will switch again to Ethereum blockchain. Because of this high cost of Ethereum, Ethereum blockchain is losing so many new projects and users. I hope Ethereum doesn't lose the second position. Right now i only use BNB for the transaction because it's so expensive when i want to sending token with ERC-20.
ETH Competitors like Cardano are being serious about their competitiveness to Ethereum especially that Ethereum users now are suffering from a high price fee which makes most of the users think about using it. With the ETH 2.0 delays, People will not really bite this eip1559 scheduled hard fork. I myself don't have high hopes for the schedule because of countless delays of past announcements.
I have had to monitor not only gas fees but prices as well for uniswap.... Finally found a point where both were "ok"... I was getting $130 estimates.. People however are still using uniswap.. Really it's an amazing concept.
~
so they plan to launch eth 2.0 in July...not really sure if they will do this on time, but I hope that this July the gas fee issue is resolved. I still HODL some ERC tokens that I want to exchange but the high gas fees are a barrier.
The update in July is aimed at solving the exorbitant GAS costs. I'm sure you've read the article that was shared.
if you want to sell ERC tokens, you can check the Gas required. there are actually times when we can see the costs have decreased quite well for making a transaction. but definitely make sure you have at least 0.01ETH. It seems that if we have it under that the transaction will not be able to be processed. there is error information when we will send the token.
EIP1559 is been finalized already so it's definitely happening in July of this year, now ethereum will have deflationary kinda advantage and there won't be any unlimited supply anymore, also miners will be affected I believe, now their reward will up to 40% less than what it used to be, ethereum gpu mining is over
Jump to: