Topic: Impact of the London hard forks on ethereum - page 2. (Read 134 times)
London hardfork was bringing a big change to the ethereum although there's no different on its transaction fees but the deflationary caused by the burn was giving something different on ethereum. The inflation got pushed so hard due to the burning implementation and sometimes more ethereum got burned rather than minted by the miners. The only home work to create EIP that focused to upgrade the blocksize. Second layer was good but it will always become a solution.
POS was good to prevent the inflation but remember if people were doing transaction in daily basis and the current fees on ethereum network was hurting a lot of people especially for the small shrimp.
They can't always afford to pay a few dollars just for a single transaction in ethereum or more than $10 just to send a single transaction of ERC20 token to the network.
This is a homework that must be solved as soon as possible.
Maybe I was misled or just plain wrong. I thought that London hardfork was going to reduce Ethereum gas fees. How wrong I was… Even disposing of my shitcoins is a problem
It was also what everybody thought but after understanding the main purpose of it then it's all about the burning feature that they've added per transaction.They're burning a portion from the transaction fees that we pay. Honestly, I've thought of it the same as you and hoped that the fees will drop down.
But in this case, it didn't because it even became more expensive and maybe the next hope for the drop of fees is through their next update.
Maybe I was misled or just plain wrong. I thought that London hardfork was going to reduce Ethereum gas fees. How wrong I was… Even disposing of my shitcoins is a problem
Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?
It was actually good. The Ethereum dev has found a way to burn Ethereum supply since it's known to be unlimited. They're just preparing it for a bigger update.And that is when they've already made Ethereum turned into PoS and that's a better upgrade then. So having with limited supply and then a burning capacity through London then it will give Ethereum better pricing for sure in the long term.
Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?
Not really much i suppose but there are some good feature implementation like more efficient auction and eliminating network instability with no block reward, Last fork didn't change really much to the gas fee but it's making it more predictable and more fair, Beside that burned fee making some significant change to the price too but even like that it's still can't be used for some small user since the fast was still high, I just hope upcoming ETH 2.0 will change it.
Well the transaction fee problem that has been the agitation of ethereum users is still very much available and we still need to pay high fees to carry out the transactions in the ethereum network, the London hard forks have not achieved much in that direction.
Besides price, I don't see anything working "far better" than before. I might not be working with ETH the right way or I have too high expectations.. but the fees are even crazier than before and it still doesn't look like it's able to scale enough to fit the demand.
I agree, it doesn't change anything, the fact that the fees are still very high, tells me that it is somewhat a failed released. They supposedly solve the high gas fees, but so far we haven't see any improvement whatsoever.
Of course, as investors who wouldn't love the price hitting to $5k or even higher at the end of the year. But you need to be smart on how to reduce the gas fees if you are going to cash out in the future. Probably used another layer or totally convert your Ethereum to other coins.
Besides price, I don't see anything working "far better" than before. I might not be working with ETH the right way or I have too high expectations.. but the fees are even crazier than before and it still doesn't look like it's able to scale enough to fit the demand.
Yh, and I think it wouldn't take too long to convince others that the London fork has not really helped with the network fees. For the past few weeks, ETH fees have been super high that many people had to avoid them by using BSC instead. It may just be a matter of time until all of this is being carried forward to lift ETH to a new ATH but at the moment it's fair to say that it has had little impact on the market.
Besides price, I don't see anything working "far better" than before. I might not be working with ETH the right way or I have too high expectations.. but the fees are even crazier than before and it still doesn't look like it's able to scale enough to fit the demand.
Since the there London hard fork a month ago its price was greatly influenced by this development which has to lead to the burning of transaction fees and reduction of ethereum calculating supply, presenty ethereum price is heading towards $4000, after making an all time high of 4500. What are your thoughts?
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