I don't know why OP had to pay 7 dollar gas fee, gas fee is under a dollar right now ,shouldn't be a problem. If people are not going with ETH right now because it's 80 cents or something, then they should have seen it a few years ago, people paid literally forty dollars gas fee just to take their money out, and we were fine with it because we made more money from it using ERC20 chain products and projects.
It's fine that people could prefer other stuff for now but when the time comes and bull happens, I am sure there will be many projects at ETH which will get some good attention, I believe those projects using ERC20 will get high enough volume that people will go back using ETH and then the gas fee will jump up again and people will move to other things again.
Topic: Etherum gas! (Read 375 times)
Today, Ethereum has enough scalable bridges to encourage low fees. It was crazy before but it seems that people's cries and reduced earnings on the project's part have prevailed on Ethereum to further enhance scalability and partnership for lower fees.
ethereum is still not low in fee though, just yesterday some project did airdrop and gas fee already exploded, ethereum greatly helped in reducing the fee because many of the txs are just coming from L2's settlement and now they used blob which is cheaper.but it still doesn't help that much for native transaction in ethereum and yesterday is the proof of that.
I think ETH still has a long way to go, until they can truly solve their problem, they will be hindered, just look at chart ETH is getting outperformed by other top altcoins, it speaks volume.
- If we will compare the gas fee today from the past, you will see that a huge amount was gone unlike before.
we have a cheaper gas fee now, but still. having ETH gas fee is a bit higher than others. this is the main reason why so many new project are not having the ETH.
TON is much better BSC is one of the best. Eth should think of it and make changes soon.
we have a cheaper gas fee now, but still. having ETH gas fee is a bit higher than others. this is the main reason why so many new project are not having the ETH.
TON is much better BSC is one of the best. Eth should think of it and make changes soon.
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
Due to the price hike and volatility it may cause with you. You need to update when the gas is too low. However we all know that Ethereum is one of the best project on crypto market so you are really assured that the project and platform are secured. So they might make some extra fees with thier chain and service. Its not high who nake thousand of dollar transaction not for minor transaction. So you need to use at as regular basis and make you transaction when the gas fees are low. Hopefully it will benefited you. 
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
Usually the biggest hurdle for Ethereum transactions in the past is the high gas fees. Because there is no problem no matter how many transactions you do, but in case of small transactions, losses can be high. For example, you would normally spend $7 to redeem a $3 airdrop token, but in any case, the amount of security is the highest in Ethereum coins. If the gas fee is lower in the future, it will go further than the current situation
Hmm, makes me continue to question whether maybe native tokens might be more efficient an implementation than kludging tokens together out of "smart contracts"...
-MarkM-
Didn't understand the second part of your thought, may you continue it further?
I don't know smart contract languages yet, but the impression I get is using them to implement tokens involves basically coding them all over again every time, or calling some subcontract out there somewhere that already does a bunch of that code for them, so it seems likely it would be a whole lot more efficient if the blockchain's primitives - its built in functionality - already had that common part all tokens share.
Every time I mention the thought I hope someone will explain how actually it is done extremely efficiently, all those subroutines or subcontracts being pre-compiled, maybe amounting to linked libraries even, but so far I have not seen anyone refute my intuition that it is quite a "clunky" way of doing things, albeit using the term "kludge" to attempt to draw out any potential refuters (which still hasn't seemed to do so) might be a tad too strong. But hey if its too strong a term, refuters do please refute!
-MarkM-
Hmm, makes me continue to question whether maybe native tokens might be more efficient an implementation than kludging tokens together out of "smart contracts"...
-MarkM-
Didn't understand the second part of your thought, may you continue it further?
simple ETH transfers are generally cheaper than complex smart contract executions. Overall, Ethereum gas fees are volatile, participating on airdrop which used ETH chain is not a good idea. you always face the same situation, the reward value will be less then gas fee.
Hmm, makes me continue to question whether maybe native tokens might be more efficient an implementation than kludging tokens together out of "smart contracts"...
-MarkM-
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But looking at the gwei of ETH or the gas fee, it doesn't seem to be hurting at all. It's less than a dollar and I think that these platforms that are charging that much are getting commission from the apps where you are getting the airdrops. That's why ERC20 tokens are also being supported in other networks to save some fees.
There's a big difference on the fees between sending ERC-20 tokens to other address and swap ERC-20 tokens, it's really expensive for swap ERC-20 tokens.it reminds me back then when gas still around 50-70 gwei, the difference between efficient contract that's optimized for low gas requirement and the one that actually unoptimized at all is immense.
as for the case of airdrop claiming and token swapping, it's complicated process with many check, i'm sure anywhere else it will be expensive because it's the cost of security.
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
That's like when the casino gives you a little amount of bonus and you want to withdraw it but they'd ask you to fund the account first so that you can reach the withdraw amount.
I'm always not comfortable with this approach of Ethereum having charged on transactions due to gas purchase.
I don't understand if it's transaction blockchain has more users placing exchange orders which it leads to network congestion or what.
Even whe the fee has run low, it'd always go higher than others. I don't know the fact about this.
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
We have enough time to carry research when it comes to this projects, knowing the time and the particular projects to sticks on do make sense. Losing more to attain heights feels horrible. The market opens hands for everyone to come, we're the ones that ought to decides if we're going to be profitable or not. Ethereum comes with high gas fees, this is not just the time to comprehend the market due to the presence of volatility, moreover we spot out projects that have good road maps and anticipate in them. Airdrops are worth it? I don't think so because it requires more engagement than we could possibly think of and it's been nothing but a hectic one for some of us. Its really frustrating to see a potential project turning out to mean absolutely nothing. I've been in that shoes once and I know how it play down the road. We're advised to always invest with what we can afford to lose. 
Yeah it's what it's, this is why airdrop in ERC-20 tokens is getting smaller and smaller because people are paying high fees when the reward is small. It's surprising there are still airdrop in ERC-20 tokens nowadays.
See the "Featured Actions" below in that page.
But looking at the gwei of ETH or the gas fee, it doesn't seem to be hurting at all. It's less than a dollar and I think that these platforms that are charging that much are getting commission from the apps where you are getting the airdrops. That's why ERC20 tokens are also being supported in other networks to save some fees.
There's a big difference on the fees between sending ERC-20 tokens to other address and swap ERC-20 tokens, it's really expensive for swap ERC-20 tokens.See the "Featured Actions" below in that page.
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
Hahaha...this is funny because I was once in this trap but it was with Bitcoin so I know how you feel now. Still, you might want to explain better so we know which airdrop you earned from, the wallet, and how you may bypass the process for a lower transaction fee. Today, Ethereum has enough scalable bridges to encourage low fees. It was crazy before but it seems that people's cries and reduced earnings on the project's part have prevailed on Ethereum to further enhance scalability and partnership for lower fees. 
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
Get used to it, this is the primary complain or cons on using up ETH transactions on which you would really be needing up to pay up some high gas amount but there are really those times that it is really that lesser but if you do make some transactions that involves small amount of bucks then it will really be taking up some huge slice into that transaction on which you would really be hesitating on pushing it through.
How much more if there would be a network congestion? You would really be definitely be seeing those $100 even more.
Even so it does have this kind of shit fee ranges but still ETH do sit on #2 ranking in overall market on which it cant be denied that community support and demand is really that still on peak.
Somehow this is also the thing i do complain with erc20 on which gas fees are too high which is really that in compared with SOL and some coins that are really that having cheaper fees.
If we remove tokens and bridges, I think that Ethereum's uses for deposits are more limited than Bitcoin's, and therefore if the fees for those transactions are low, Ethereum will attract all the liquidity that was going to Solana and other altcoins, and if they are high, the investments will go to those altcoins.
Bitcoin is much more limited imo. Aside from the ordinals and inscription part of Bitcoin, Bitcoin cannot natively run smart contracts directly on the chain. On ethereum however, you can create a wide variety of smart contracts. Of course bridges and tokens account for most txs but let's not forgat that there are other aspects like lending and borrowing which is kind of like a big deal.
Ethereum suffers from the 'blockchain trilemma problem'.
Transaction cost of tokens is different from transaction cost of the coin. I did sent $10 on the chain and I was charge $1.3 which a bit high in my opinion compare to other network transaction fee but as for yours that cost $7, sending tokens on ethereum network involves smart contract execution and the way contracts are written determine the weight of the transaction fees and that's why you paid higher but compare to other networks, it's too high.
Ethereum did show us that tokens turned out to be a high-demand product, but given that they are does it make sense really to kludge them together out of smart contracts rather than simply have them as part of the basic functionality of the underlying platform/blockchain?
Stellar, and thus by implication Ripple, seems to provide tokens quite cheaply, for example.
There was some other project I intended to keep an eye on that was arguing for certain known to be high demand functionalities to be native rather than kludged together at runtime by scripts/contracts but I unfortunately forgot its name and haven't stumbled upon it again yet among the current plethora of newfangled made-up clones copies mods etc etc etc...
-MarkM-
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
Please stop comparing Ethereum to other network because of the transaction fee. If that was the case then Tron blockchain should have been favourite for every new projects. I am certain that Tron is the only blockchain that has the least transaction fee which no other blockchains can beat. I am not sure what compelled you to pay $7 worth of transaction fee for an airdrop of $3. I think you were out of your mind or were high when you committed this mistake. Above all why participate in an airdrop which is worth a few dollars. You wasted your time and money and blaming Ethereum makes you look stupid for your own mistake.
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
Transaction cost of tokens is different from transaction cost of the coin. I did sent $10 on the chain and I was charge $1.3 which a bit high in my opinion compare to other network transaction fee but as for yours that cost $7, sending tokens on ethereum network involves smart contract execution and the way contracts are written determine the weight of the transaction fees and that's why you paid higher but compare to other networks, it's too high.
I'm not sure if Ethereum network will ever come low as you are expecting. I mean it's more than 7 years since the network went live and all effort of developers has been on layer 0, 1 and 2 just to scale the transactions on the chain and the ones that are interoperable with it as sidechains. Just use it when you think you can or use alternative network for other things if necessary because the fee are never coming down except if the network is never busy which is not possible.
What do you think, whether the current competition will suppress ethereum from the market due to the big difference in transaction costs, because it remains the only one with a huge price for the transaction. I received a token worth 3 dollars on the airdrop, and I had to pay 7 dollars in transfer costs!
High transaction fees This hurts the users significantly. It is even worse when there's a cyber concern. Long criticized, the gas fees of Ethereum have long been labeled as too high. And with tiny transactions, like a $3 Airdrop fee, paying a $7 fee just isn't enough that is why other blockchain networks, such as Solana, Binance Smart Chain, etc. and so many others are gaining impetus—he charges much lower fees and processes transactions much faster.
The latter is still a leader, however, due to its system, security, and number of developers and applications running on the platform. Ethereum upgrade plans, such as Ethereum 2.0 that is now live and in progress to fully migrate to a proof-of-stake model, are one of the attempts to solve these problems of payment through upgrading itself better. Layer 2 solutions like Arbitrum and Optimism reduce costs by enabling transactions to be performed across the main Ethereum network.
In other words, this transaction alone might be enough to be the tipping point to stop Ethereum's current momentum, especially if not handled properly. Especially with faster and less expensive competitors. But for the moment, the Ethereum ecosystem still stands competitive when it comes to short-term expectations and long-term potential.
If we remove tokens and bridges, I think that Ethereum's uses for deposits are more limited than Bitcoin's, and therefore if the fees for those transactions are low, Ethereum will attract all the liquidity that was going to Solana and other altcoins, and if they are high, the investments will go to those altcoins.
that would completely defeat the sole advantage that ETH is having compared to bitcoin though.I think the main reason ETH could get this far because the easiness of deploying token, no need to create our own blockchain just use the ERC20 protocol and a project already have a token that pretty much has the same capability as coin.
moreover the smart contracts also proven to be a game changer, but it also comes at cost, since ETH is among the first one to implement smart contract capability anyway, it's inevitable that the deisgn might not be perfect, at least not as perfect as the more recent blockchains e.g solana, bnb and so on therefore the never ending problem of the gas fee.
even it seems ETH just want to offload transactions completely to L2 to mitigate the gas problem and instead focused on creating quality L2 that up to standards.
Now, this shift is definitely a reason that has helped Ethereum to gain such space and leadership in DeFi. It has become very easy for developers to deploy tokens and create dApps; hence the ecosystem has many developers engaged here, making it the platform for innovation.
But as you're saying, that takes us back to the beginning: These along with their own set of problems bring along. For instance, they impede small businesses and projects at risk of high gas fees, while Ethereum's layer two solutions like Optimism and Arbitrum do so in an attempt to actually reduce those problems. But it raises questions for the long-term future about how much we lean on those solutions.
New blockchains and therefore is competition to Ethereum. It can offer lower fees and faster transaction times, learning from previous design choices in Ethereum. It thus compels Ethereum to grow and evolve in ways never seen before. While established ecosystems and environments are the key strengths for Ethereum: it is a must for it to keep innovating. This constantly changing blockchain landscape will require Ethereum to ensure quality to stay ahead of its competitors before they grow in size while keeping cost-effectiveness.
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