They definitely will because many NFTs are now switching over to MATIC simply because the fee is a lot more cheaper and it’s probably better for the long term and not too depending on the ETH 2.0
Even after many months the problems about the fee in ETH is still unresolved, mainly because I think ETH has reached maximum in its capability.
Although it seems ETH could fix their problems in the future but switching over to platform like BSC or MATIC makes a lot more sense. ETH defeated by BSC or MATIC gonna happening slowly because ETH itself is still too big but if the fee problem still arise I think some of ETH market capitalization will move to BSC, or Matic, such coins. Im feeling curious what makes ethereum developers so long to implement the solution to fix gas fees while bitcoin needs only a single update and it has been decreasing the fees a lot through segwith and lightning network
Topic: Will competitors defeat ETH due to ever-increasing gas fees? - page 3. (Read 750 times)
I don't think that in the long run, it will matter much.
Fact of the matter is that ETH2.0 will bring a lot of the innovation that will curb high fees etc.
The prices of coins that are dubbed as "ETH killers" are already way too overhyped in my opinion. So the likely scenario is that they will all experience a correction when the 2.0 protocol gets released.
Fact of the matter is that ETH2.0 will bring a lot of the innovation that will curb high fees etc.
The prices of coins that are dubbed as "ETH killers" are already way too overhyped in my opinion. So the likely scenario is that they will all experience a correction when the 2.0 protocol gets released.
We'll have to see what happens after the launch of ETH 2.0. Most probably, ETH's price will skyrocket as people will gain the "FOMO" sentiment. Competitors' prices might stale, as ETH grabs all of the attention of mainstream investors and traders alike. While ETH 2.0 will alleviate the high fee issue, it's not a definitive solution for scaling the blockchain. Fees could go back up again if network load remains high. That's where so-called "ETH Killers" come into play. They may not be as decentralized and reliable as ETH, but they're extremely convenient for day-to-day transfers due to their low fees and blazing-fast speeds.
It's always good to have a diversity of blockchain networks in order to reduce the burden on the main chain. Competitors will never beat ETH, because the latter has first-mover advantage on the market. But they can complement ETH by reducing the load on its blockchain whenever possible. As long as people are able to gain financial freedom, nothing else matters. Just my thoughts
Yes, this is because now almost all projects use BSC. And only a few use ETH. My tokens, for example, are at best slightly more expensive than the transaction price. Hope is only for network updates.
Developers are rolling network upgrades, yet gas fees on ETH remain the same. It's very expensive to perform transactions on the Ethereum blockchain compared to other competing chains. The ETH 2.0 upgrade will alleviate the situation but developers keep delaying the same. People are getting sick and tired of ETH's "stalling" as fees continue to rise like there's no tomorrow. If I'm not mistaken, developers will delay the difficulty bomb again (by December) in order to prolong the PoW blockchain. The longer it takes for fees to decline on ETH, the bigger its competitors will grow.
Do you think competitors will defeat ETH due to ever-increasing gas fees? If not, why? Are constant delays a result of miners' opposition against reducing gas fees on the blockchain? Your input will be greatly appreciated. Thank you.
Do you think competitors will defeat ETH due to ever-increasing gas fees? If not, why? Are constant delays a result of miners' opposition against reducing gas fees on the blockchain? Your input will be greatly appreciated. Thank you.
Yeah the recent situation of ETH and it's gas fees is really extremely annoying i have a few tokens that i would like to stake or to claim but i am only a small fish and those tokens are worth only a few hundred bucks each and to claim, to transfer and to stake them, i would need more than 100$ worth of fee at the moment and that is just a joke. Once they are staked i also need to pay a lot of gas fees each and every time i want to claim rewards so ETH really needs to do something in the near future (hopefully in 2022) in order to get the ETH fees down again into a useful region where everyone can use the ETH network as it is intended to be used.
And it seems many other independent developers think the same as they are choosing other blockchains in which to release their projects and I cannot blame them, after all if things like what you are experiencing happen to all kind of small holders then this slows down the money velocity of those tokens to almost zero, and when that happens the value of any currency drops to zero as well.
Developers are rolling network upgrades, yet gas fees on ETH remain the same. It's very expensive to perform transactions on the Ethereum blockchain compared to other competing chains. The ETH 2.0 upgrade will alleviate the situation but developers keep delaying the same. People are getting sick and tired of ETH's "stalling" as fees continue to rise like there's no tomorrow. If I'm not mistaken, developers will delay the difficulty bomb again (by December) in order to prolong the PoW blockchain. The longer it takes for fees to decline on ETH, the bigger its competitors will grow.
Do you think competitors will defeat ETH due to ever-increasing gas fees? If not, why? Are constant delays a result of miners' opposition against reducing gas fees on the blockchain? Your input will be greatly appreciated. Thank you.
Do you think competitors will defeat ETH due to ever-increasing gas fees? If not, why? Are constant delays a result of miners' opposition against reducing gas fees on the blockchain? Your input will be greatly appreciated. Thank you.
Yeah the recent situation of ETH and it's gas fees is really extremely annoying i have a few tokens that i would like to stake or to claim but i am only a small fish and those tokens are worth only a few hundred bucks each and to claim, to transfer and to stake them, i would need more than 100$ worth of fee at the moment and that is just a joke. Once they are staked i also need to pay a lot of gas fees each and every time i want to claim rewards so ETH really needs to do something in the near future (hopefully in 2022) in order to get the ETH fees down again into a useful region where everyone can use the ETH network as it is intended to be used.
IMO, I may believe that the current Ethereum Network's transaction fees are a burden to micro and small investors, But I never believe that particular reason that Ethereum can be defeated because of huge transaction fees, It will not happen because Ethereum has a solid community in the background and second is the Eth 2.0 has not yet completely implemented who knows that the gas problem will be fixed after the full implementation of the Eth 2.0 update.
The current transaction fee load on the Ethereum network is not friendly for small investors but the gas fee has dropped below 30 gwei since a few days ago, I think it means the gas fee is recovering so it will take a long time to overcome the problem of expensive transaction fees but it is not the reason for leaving the ETH network, even BSC as a strong competitor is still under the Ethereum network.This is what it is causing many projects to move to other chains as it is going to be simply impossible for small investors to use their coins with such high fees, and while I do not think this is going to be enough for the competitors of ethereum to take its position at the same time it is something that is strengthening their position and it is not something that ethereum can ignore at all.
Developers are rolling network upgrades, yet gas fees on ETH remain the same. It's very expensive to perform transactions on the Ethereum blockchain compared to other competing chains. The ETH 2.0 upgrade will alleviate the situation but developers keep delaying the same. People are getting sick and tired of ETH's "stalling" as fees continue to rise like there's no tomorrow. If I'm not mistaken, developers will delay the difficulty bomb again (by December) in order to prolong the PoW blockchain. The longer it takes for fees to decline on ETH, the bigger its competitors will grow.
Do you think competitors will defeat ETH due to ever-increasing gas fees? If not, why? Are constant delays a result of miners' opposition against reducing gas fees on the blockchain? Your input will be greatly appreciated. Thank you.
Transaction fees on the ethereum network often drop to acceptable levels. For example, now it is 40 Gwei. But in general, for the final solution to this problem, of course, we still need to wait a while before the completion of the Ethereum 2.0 update. In addition, on November 24, Buterin initiated a separate improvement, which should reduce transaction costs in the network by about five times. I think that in the second half of next year this problem will be finally resolved. Ethereum's competitors are unlikely to make much headway during this time. Ethereum has been and will remain the leader in altcoins. Do you think competitors will defeat ETH due to ever-increasing gas fees? If not, why? Are constant delays a result of miners' opposition against reducing gas fees on the blockchain? Your input will be greatly appreciated. Thank you.
IMhO, although some competitors like BNB, Sol, Matic or other platforms that offer lower fees, in fact so far, they cannot still defeat the Ethereum platform or network. Ethereum platform still dominance the crypto network used by most projects. Although I personally also feel so bad with the high fees of Ethereum network.
If this is going on continuously, maybe the position of ethereum network will be decreased and many more new projects will prefer to choose another network due to the fee condition.
If this is going on continuously, maybe the position of ethereum network will be decreased and many more new projects will prefer to choose another network due to the fee condition.
I don't think that in the long run, it will matter much.
Fact of the matter is that ETH2.0 will bring a lot of the innovation that will curb high fees etc.
The prices of coins that are dubbed as "ETH killers" are already way too overhyped in my opinion. So the likely scenario is that they will all experience a correction when the 2.0 protocol gets released.
Theyve been actually saying this stuff on those earlier years on where those so called ETH killers but still even up to now they havent able to overtake the rank of ETH despite of the high gas fees at the moment.Fact of the matter is that ETH2.0 will bring a lot of the innovation that will curb high fees etc.
The prices of coins that are dubbed as "ETH killers" are already way too overhyped in my opinion. So the likely scenario is that they will all experience a correction when the 2.0 protocol gets released.
Yes, its really pain in the ass on seeing on how high the gas fees but once that 2.0 would come out then for sure everyones mind would really changed up and there might be some price surge once again.
ETH is really something that hard to be replaced in top 2 spot but well there would be always those possibilities.
I don't think that in the long run, it will matter much.
Fact of the matter is that ETH2.0 will bring a lot of the innovation that will curb high fees etc.
The prices of coins that are dubbed as "ETH killers" are already way too overhyped in my opinion. So the likely scenario is that they will all experience a correction when the 2.0 protocol gets released.
Fact of the matter is that ETH2.0 will bring a lot of the innovation that will curb high fees etc.
The prices of coins that are dubbed as "ETH killers" are already way too overhyped in my opinion. So the likely scenario is that they will all experience a correction when the 2.0 protocol gets released.
ETH miners seems like a cult group who love to see the outricious gas fee the network, despite all the upgrade and forks, gas fees still remain rediculously expensive. The market that ETH would have been controlling alone has already been shared but a total defeat is not clearly visible because of first mover advantage, continuous development of the network and massive offchain support, it will be difficult to display ETH from number 2 position by any competitor.
Acceptance of ETH by a wide number of organisations and it's popularity alone can make it outstand in the market. Other coins except BNB aren't even close to ETH in terms of development of the project and also support.Other than BNB I guess there is no second alternative to ETH currently, maybe there would come better projects in the future that can take the place of ETH in the future.
I am not saying that they will do it, I am just saying that the "threat" of it being there is good enough for most people to have that type of situation. This is why I really care about the current situation as it is and will probably stay that way. Sure other projects are not close enough at all, but the fact that even if they get close in development, there is a good chance they may still be lower.
I don't think competitors will defeat ETH due to ever-increasing gas fees. Because ETH is a very popular network and its gas fee has started to decrease lately. However, the gas fee is still higher than other networks. ETH developers are taking a lot of time but still no result.
Currently the ETH network gas fee difficult for small investor. ETH gas fee very is very high this year.But BNB gass fee too cheap. Most people uses now BNB. I Think ETH they will be solve that problem and more development. I Think BNB is strong compare with Ehereum.I think transaction gas fee solve this problem after update ETH 2.0.
Even to see that ETH gas fee is too high compared to other platforms but still, we can see the huge volume of ETH traders and investors, the demand is stabled high, ain't changing as we first think it happens. That has to say that it won't give the chance for others to defeat ETH and probably the reason why is that the platform used by many projects is still in the market running well. In fact, it has been more than a year with this high fee and we've not seen such tremendous changes in which we can see defeat.
The advantages of the Ethereum blockchain are enough to remain the first, but high commissions on the network negate this advantage. Until the cost and speed of transactions in the Ethereum network are resolved, there will still be an outflow of users to alternative networks.
This means that if they are unwilling to tackle the problem another project will always have the chance of surpassing ethereum and become the new point of reference when it comes to altcoins, something that all of the people behind ethereum do not want but that could still happen due to their incompetence and their lack of care for what their users really want and need.
ETH miners seems like a cult group who love to see the outricious gas fee the network, despite all the upgrade and forks, gas fees still remain rediculously expensive. The market that ETH would have been controlling alone has already been shared but a total defeat is not clearly visible because of first mover advantage, continuous development of the network and massive offchain support, it will be difficult to display ETH from number 2 position by any competitor.
IMO, I may believe that the current Ethereum Network's transaction fees are a burden to micro and small investors, But I never believe that particular reason that Ethereum can be defeated because of huge transaction fees, It will not happen because Ethereum has a solid community in the background and second is the Eth 2.0 has not yet completely implemented who knows that the gas problem will be fixed after the full implementation of the Eth 2.0 update.
Even to see that ETH gas fee is too high compared to other platforms but still, we can see the huge volume of ETH traders and investors, the demand is stabled high, ain't changing as we first think it happens. That has to say that it won't give the chance for others to defeat ETH and probably the reason why is that the platform used by many projects is still in the market running well. In fact, it has been more than a year with this high fee and we've not seen such tremendous changes in which we can see defeat.
The advantages of the Ethereum blockchain are enough to remain the first, but high commissions on the network negate this advantage. Until the cost and speed of transactions in the Ethereum network are resolved, there will still be an outflow of users to alternative networks.
Quite possibly, we even see the ethereum network starting to be abandoned because of the expensive cost of gas. And SOL will be a priority where ethereum will be abandoned SOL will be one of the best blockchain network projects.
With the path Solana's been taking recently, I don't think it'll become one of the best blockchain network projects. There's been several network outages/disruptions, putting the reliability of the Solana blockchain in question. You don't see this happening on Ethereum, as security, reliability, and decentralization is put first above all else.
I'd prefer to pay a slightly higher fee and wait a little longer knowing that my transaction will go through, than all the other way around. People prefer convenience on top of decentralization, so they'll go for alternative blockchain networks like Solana, and Binance Chain. Considering that most (if not all) competing chains lack decentralization, it's probable Ethereum will retain its place on the market for a long time. I'm fine with that as long as decentralization wins. Just my thoughts
Quite possibly, we even see the ethereum network starting to be abandoned because of the expensive cost of gas. And SOL will be a priority where ethereum will be abandoned SOL will be one of the best blockchain network projects.
Ethereum focuses its blockchain on running decentralized programs, including Ether payments or transfers.
as we know that everyone who invests in crypto market, competitors beat maybe gas costs continue to increase/expensive, I don't agree because ethereum is the mother of all altcoins, the biggest platform is very high exchange rate, I believe ethereum developers will provide improvements effective which is sure to leave a positive impact.
as we know that everyone who invests in crypto market, competitors beat maybe gas costs continue to increase/expensive, I don't agree because ethereum is the mother of all altcoins, the biggest platform is very high exchange rate, I believe ethereum developers will provide improvements effective which is sure to leave a positive impact.
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