I'm getting tired of the high fees for gwei

taufik0911

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Quote from: zahed on July 01, 2023, 12:23:50 PM

Quote from: CapGelatik on June 11, 2023, 07:03:12 PM

Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

Have to agree that Ethereum is the high gas fee network in this time. But also you can not deny that still Ethereum is the number one platform in altcoins in terms of several cases like the most using network. Binance Smart Chain getting popular for their cheap gas fee.

this is indeed a problem that is commonly experienced by many people when using the ethereum blockchain, in my opinion this has not yet been resolved by the ethereum developer himself where the blockchain is one of the most popular blockchains.
I hope the developer can make a feature or update the blockchains that can make transaction fees on the blockchains cheaper.

MiF

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Quote from: Sidra101 on May 07, 2023, 02:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

The problem is not new to us, ethereum high tx fee is very discouraging but the question is why there are still people that still use ethereum network instead of using bnb,polygon,etc.,the most affected is the newbie and the people who only uses small amount of money to invest or in short the small investors they are the most affected in most of the case about this high tx fee.

zahed

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Quote from: CapGelatik on June 11, 2023, 07:03:12 PM

Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

Have to agree that Ethereum is the high gas fee network in this time. But also you can not deny that still Ethereum is the number one platform in altcoins in terms of several cases like the most using network. Binance Smart Chain getting popular for their cheap gas fee.

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Quote from: Andrija Branislav on July 01, 2023, 02:28:20 AM

The problem of high fees for gwei in Ethereum transactions is a complex one that requires a multifaceted solution. Gas costs today are as low as 17 Gwei and as high as 20 Gwei and One approach that can be taken is to use a layer 2 solution, such as Polygon for example, which can offer faster and cheaper transactions. If you want to be patient and not rush, another option is to wait for periods of lower congestion on the Ethereum network to make transactions, which can result in lower fees.

When you are holding ethereum coin and you have no choice other than bridging your ethereum to the second layer solution to avoid non sense fees. The ethereum fees was dynamic but the problem is the fees will never decrease again.

https://etherscan.io/gastracker

You need to pay a lot of fees to bridge your asset to go to the second layer solution. The second layer solution was using batch file transaction to the ethereum blockchain.
It's not an easy solution if your money was in your personal wallet. The different case when you are holding it in your exchange site's account.

The only solution to send his native ethereum to go to the exchange site and try to use second layer solution. It will help him to avoid the fees but everything is fine right now as the fees was quite cheap.

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The problem of high fees for gwei in Ethereum transactions is a complex one that requires a multifaceted solution. Gas costs today are as low as 17 Gwei and as high as 20 Gwei and One approach that can be taken is to use a layer 2 solution, such as Polygon for example, which can offer faster and cheaper transactions. If you want to be patient and not rush, another option is to wait for periods of lower congestion on the Ethereum network to make transactions, which can result in lower fees.

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Quote from: shinratensei_ on June 11, 2023, 07:16:58 PM

Quote from: CapGelatik on June 11, 2023, 07:03:12 PM

Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

it could be said that the very reason ethereum could have this massive gas is because it is no.1 smart contract blockchain platform right now.
so many meme coins getting deployed added with the fact that there are some NFT being deployed into the platform, and not to mention the airdrops mechanism nowadays that got implemented
quite literally just boost the burden on the blockchain, i think there's most certainly long way to go until things gets resolved for this blockchain to get the lowest fee there is, because if not for the value that's quite high.
i'm sure the fee is relatively low, 13 gwei is normal back then but ethereum price just keep growing and growing making it seem really expensive.

Isn't it evident? Ethereum's gas fees are now unpredictable. Its leading position in smart contracts is advantageous, but it's a double bind. Increased popularity has brought about higher traffic, leading to soaring gas costs. Ethereum is more a casualty of its own triumph, isn't it? As for BSC, despite being affordable, it's centralized. Ethereum is genuinely decentralized. It's quite a predicament.

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Personally, I also avoid transactions using the ethereum network, but the only drawback of ethereum right now is the high gas. it's just that, it still can't cover that ethereum is a very promising coin. in fact, with these drawbacks, ethereum is still the king of altcoins, even BNB or networks that have lower fees than ethereum cannot exceed that. because of this, I prefer to hold ethereum than other altcoins, but I avoid coin transactions with the ERC20 network

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Quote from: CapGelatik on June 11, 2023, 07:03:12 PM

Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

it could be said that the very reason ethereum could have this massive gas is because it is no.1 smart contract blockchain platform right now.
so many meme coins getting deployed added with the fact that there are some NFT being deployed into the platform, and not to mention the airdrops mechanism nowadays that got implemented
quite literally just boost the burden on the blockchain, i think there's most certainly long way to go until things gets resolved for this blockchain to get the lowest fee there is, because if not for the value that's quite high.
i'm sure the fee is relatively low, 13 gwei is normal back then but ethereum price just keep growing and growing making it seem really expensive.

CapGelatik

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Ethereum is currently known for its expensive gas fee, even though in 2018 Ethereum became the top no. 1 blockchain platform,
but after BSC appeared, of course BSC is more attractive and cheaper.
I hope that the gas fee on Ethereum can overcome the problem because live is very dependent on it.

WalkerIVIV

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you can be getting tired of the fee, however i'm sure this fee will not get resolved anytime soon, you should take advantage of the alternative blockchain that already being recommended by many people, even using second layer blockchain is fine if you think the gas fee just doesn't make sense to you.

molsewid

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Quote from: Sidra101 on May 07, 2023, 02:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

It's been ages, we don't have anything about it. People uses erc20 and we all know how much gas fees we need to do and if you want little bit faster you need to add more fee, if your transaction has other option maybe try other chain which is lesser in fees and faster. We need to get used to it especially when bed months come fees and the amount of time will be doubled.

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Quote from: bittick on June 10, 2023, 07:03:46 PM

Quote from: icalical on June 10, 2023, 11:16:18 AM

The best option is to move to other smart-contract, I think other smart-contract like BSC, MATIC, and AVAX are starting to catch up with ETH and you might fill your need with one of those platform, and definitely cheaper than Ethereum.

those aren't smart contract though but blockchain which have the capability of deploying smart contract, but that true though, the only solution that quite literally make sense, just move over to other blockchain, maybe l2 where it's easier, and the fee related problem gets solved, but of course with disadvantage of lesser quality of the ecosystem.

There have been problems with Ethereum gas fees since 2020 when Ethereum pumped high and tried to become Ethereum 2.0,
but unfortunately the gas fees have not been resolved and even the Dapps created on the Ethereum network are currently decreasing.

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Quote from: Sidra101 on May 07, 2023, 02:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

The standard gas fee of Ethereum for sending transaction is as cheap as Bitcoin right now. The fee dramatically decreased after the implementation of the PoS as consensus mechanism. The high fee you are describing is from the Dapps itself which typically charge extra fee aside from the network fee for taxes and business profit.

Etherum dapps is worst because they are abusing the current demand on Eth dapps to charge unreasonable fee to their customers. Uniswap is the number dapps that charge expensive fee for making a trade.

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Quote from: maydna on May 07, 2023, 04:23:32 AM

If you are tired of the high fees for gwei, I suggest you not use it anymore and choose another coin. Nobody is forcing you to stay on the Ethereum network, and now there are many options you can use, and you don't have to pay high fees for gwei.

That is a risk we have to accept in using the Ethereum network. However, high costs will not always exist because it depends on the level of network activity. Maybe you need to look for other solutions that can lower transaction fees so you can accept it.

While it's true that high fees can be a deterrent for some users, it's worth noting that Ethereum remains one of the most widely adopted and established blockchain networks. It has a robust ecosystem, extensive developer support, and a wide range of decentralized applications (dApps) and projects built on top of it. Many users find value in these features and are willing to bear the associated fees.

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Quote from: Sidra101 on May 07, 2023, 02:01:29 AM

The high fees of gwei in Ethereum transactions are due to the supply and demand dynamics of the network. When the network is congested, users need to pay higher fees to prioritize their transactions. The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

You only have 2 options.
Either you continue to use Ethereum despite the high transaction fees, or not use it at all.

Besides, as of this moment, the transaction on Ethereum Blockchain is around $0.50 already. Maybe by the time you posted this, the fees is very high, but nonetheless, the fees right now is very low compare to how high it was in the past. One thing more is that, Ethereum isn't the only coin there that's offering smart contracts. There are others as well like MATIC, ATOM, ADA, etc. You might try them instead of expressing your disappointment towards transaction fees of Ethereum.

Quote from: Godday on June 10, 2023, 03:03:29 PM

The solution I'm thinking right now is to choose a BNB because that's the best in my opinion.

Well, this might be a good option, but I might stay away from it for a bit after what happened to them.
I think that CZ will overcome this problem of them, but I just want to be safe, just in case the worst case happens.

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Quote from: carrie_white on May 13, 2023, 03:42:11 PM

I have had the same problem as you for a long time, the eth gas fee is indeed very high, therefore I use the BSC network more often than the ETH network, the BSC gas fee is much cheaper than the ETH gas fee

can't make such compromise if the newest trend are always in ethereum though, i just think that if we truly wanna find some good opportunity of flipping money it's always ethereum that's gonna be best choice, even
though there are many other blockchain that usually have good and cheaper blockchain, like bsc or even probably those layer 2, but seeing from my experience, the coin that usually rise so much are always
in ethereum, only lately that some of the coin are in layer 2 blockchain but that's not long lasting either.
after all, the capital are flocking in ethereum and it seems thats not gonna change anytime soon.

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Quote from: icalical on June 10, 2023, 11:16:18 AM

The best option is to move to other smart-contract, I think other smart-contract like BSC, MATIC, and AVAX are starting to catch up with ETH and you might fill your need with one of those platform, and definitely cheaper than Ethereum.

those aren't smart contract though but blockchain which have the capability of deploying smart contract, but that true though, the only solution that quite literally make sense, just move over to other blockchain, maybe l2 where it's easier, and the fee related problem gets solved, but of course with disadvantage of lesser quality of the ecosystem.

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Quote from: Godday on June 10, 2023, 03:03:29 PM

Quote from: Sidra101 on May 07, 2023, 02:01:29 AM

The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Its Like what Ratimov said in thread The bitcoin blockchain is on its knees again that NFTs have done a lot of bad to crypto networks like BTC or ETH.
I really regret that when NFTs became a trend then people tried to trade NFTs. Many NFTs have been minted and that has created a lot of "trash" on the network.
The solution I'm thinking right now is to choose a BNB because that's the best in my opinion.

Absolutely I agree. With the addition of NFT to the Ethereum network, the network started to swell a lot, but the most important point that was overlooked was that people paid too much money for things that would not cost money and watched them go to waste before their eyes. There is still a lot of money going around NFTs going the same way. In short, why people pay so much for simple pictures.

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Quote from: Sidra101 on May 07, 2023, 02:01:29 AM

The popularity of DeFi and NFTs has increased demand for Ethereum transactions, leading to higher fees.

Its Like what Ratimov said in thread The bitcoin blockchain is on its knees again that NFTs have done a lot of bad to crypto networks like BTC or ETH.
I really regret that when NFTs became a trend then people tried to trade NFTs. Many NFTs have been minted and that has created a lot of "trash" on the network.
The solution I'm thinking right now is to choose a BNB because that's the best in my opinion.

icalical

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The best option is to move to other smart-contract, I think other smart-contract like BSC, MATIC, and AVAX are starting to catch up with ETH and you might fill your need with one of those platform, and definitely cheaper than Ethereum.

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