No doubt that many projects switch to BSC, Polygon or other, expensive transaction fees will not attract users and leave is better, examples are: RMP: https://medium.com/rampdefi/ramp-integrates-with-binance-smart-chain-liquidity-pools-launched-on-pancakeswap-and-julswap-f573fc873119
Which switched to BSC and I noticed a lot of big projects like RMP are switching to cheaper gas costs.
Topic: Will competitors defeat ETH due to ever-increasing gas fees? - page 4. (Read 721 times)
transaction fees on the ethereum network become very expensive because of the large number of users who use the ethereum network, This large transaction fee shows that the ethereum network is the most congested network and has the most users. This fact shows that even though the ethereum network has very large transaction fees until now there is still no competitor that can beat ethereum.
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.
Kadena blockchain has no transaction fee, yea you heard me right and this is why I believe that this project will be the most talk about pretty soon, no other projects will be like Ethereum that's for sure but many will solve problems that can't be solved on ETH blockchain, still this doesn't mean they are better than ETH
It seems that it is impossible to create the perfect cryptocurrency, although it should be striving for it. If a particular coin has free transactions, then it is losing somewhere else.Ethereum has been around for a long time and has a strong team and community that supports it. Yes, with a long-term update, ethereum loses a little and weakens its position, but if the update is successful, then this coin will not only restore them, but also significantly increase both its popularity and price. Better to wait and see.
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.
Possible but wont really be that simple because we know on how good smart contracts is and how many projects had been using up on this platform and had been also been famous on this market.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.
Its really hard to make out some speculations but everything could really happen on this market and if people would really be done with
erc20 high gas fees then i wont be surprised on that manner.
Everything could change and everything would be basing on the demand.
I believe so, if those competitors will give us such a low gas/transaction fee there is a possibility. Solana blockchain is doing great especially those fees. Imagine the price of SOLANA last time compare today.
I think it's not that easy to beat ethereum in its development, many blockchains are competing with ethereum but it becomes nil because Erc20 is not their competitor. In my opinion, the high transaction fees on the current erc20 platform do not corner Ethereum in the market.
Ethereum has never had a problem with expensive transaction fees so its position is still solid in cryptocurrency and what you say is true because the Ethereum Blockchain is a very big thing for many of its competitors to deal with right now.How not to be a Problem with the high transaction fees now? I think this is still an obstacle today for everyone who transacts on ethereum. although the transaction fees are high, But for the Value and Price of Ethereum is not a problem in the Market.
In the last two years it hasn't changed anything and it's still happening as you said, so this is likely going to take a very long time because Ethereum is working on something else rather than solving it.
Exactly. Nothing has changed so far. Developers keep introducing hard forks, without a short-term solution for the high gas fees. They're only focused on the ETH 2.0 upgrade, instead of taking care of what matters most. You can bet ETH would've solidified its position by now, if developers introduced an immediate solution to reduce gas fees. I think they don't want to do this, because there's big money involved. After all, miners profit largely from gas fees. The higher the fees, the better it'll be for miners' pockets. Expect to see constant opposition to anything related towards benefiting the end user. Who knows if ETH 2.0 doesn't become a reality because of miners' opposition?
As long as fees remain expensive on the ETH blockchain, competitors will only grow higher in market demand and mainstream adoption. I won't be surprised if ETH loses its position as the second-largest cryptocurrency by market cap in the not-so-distant future. Just my thoughts
I think yes, ETH is losing everyday as other blockchain projects are gaining traction. Many industries have already joined other blockchain projects leaving ETH as a viable option.
If ETH keeps delaying the network upgrade which is already so late then it will pretty much lose a major chunk of it's supporters in my opinion.
That might cause ETH a lot of damage and might cause a decrease in it's market cap.
If ETH keeps delaying the network upgrade which is already so late then it will pretty much lose a major chunk of it's supporters in my opinion.
That might cause ETH a lot of damage and might cause a decrease in it's market cap.
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?
Looking at the market now I don't think that the so called Ethereum competitors stands a chance right now. Yes the way that ETH has been stalling has been quite a problem for everyone and people seriously hoping for the Ethereum 2.0 which will be merging with the original Ethereum and driving it from PoW to PoS.When the ETH 2.0 is ready, ETH will be likely to beat many of its competitors with an extra miles with the way I am seeing things. Currently if you are to check how things has been you would see that there is already a huge gap between ETH and its competitors, such as Solana which has been leading the way as one of its competing coins in the market. Most of the devs are still making Ethereum their choice.
The primary cause of higher gas fees is congestion. However, the traffic of transactions on Ethereum varies throughout the day. At times, you may see a lower gas fee for the same transaction that was costing you more ETH a few hours ago. I wish it’s will be change after some of next development.
In the last two years it hasn't changed anything and it's still happening as you said, so this is likely going to take a very long time because Ethereum is working on something else rather than solving it. 
The primary cause of higher gas fees is congestion. However, the traffic of transactions on Ethereum varies throughout the day. At times, you may see a lower gas fee for the same transaction that was costing you more ETH a few hours ago. I wish it’s will be change after some of next development.
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.
ETH will realize their lack of increasing gas fee, because a lot people using ETH maybe an upgrade won't have a big change to the gas fee but in the future, I believe ETH can reduce their gas fee to the better one like others blockchain. But if the condition is still the same for a long time then ETH tren would be downwards.
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.
Alternative platform will therefore be required to meet demand, Ethereum will remain popular but overtime alternative platforms with lower transaction fees will take it's customers.
This possible outcome strictly depends on the success or failure of ETH 2.0 and when it will happen, the longer the takes to implement the more popular Alt platforms like BSC, Solana, Polygon etc. will become.
This is very likely to happen but can't say for sure what coin will replace ETH whether it's a coin that already exists or there will be another new project emerging.
It won't be easy to beat ETH but if all the inconveniences due to high gas fees have not been resolved, it is very likely that people will switch to other coins that are more efficient and don't have to spend a lot of money just for a transaction.
They will and that is what happens now where many are looking for a platform that could save them from paying high fees. It won't be easy to beat ETH but if all the inconveniences due to high gas fees have not been resolved, it is very likely that people will switch to other coins that are more efficient and don't have to spend a lot of money just for a transaction.
Well, talking about their actions towards the issue, I guess, it is too slow too to resolve this and I'm quite uncertain if the next upgrade will stop this or it stay the same. I wasn't hopeless yet but it looks like Mr. Vitalik doesn't care this much and they just let things happen for a couple of years. Or, it finds no way to get put from this?
it's just a matter of time and they'll be finished up. good example is dropping the case with mist
Nothing do last forever or into the peak and whenever the current top coins hadnt performed well in terms of fees and other functionalities and there arecurrent ones which is patching up into those flaws then it would really be just a matter of time that it would be replacen and i wont be surprised
if this one would happen on ETH.Its been a while that we are experiencing high gas fees on this one.
other smart chains are not a formal contract, more precisely, the basic structure of many projects is in the Ethereum database, other branches like Solana and Binance were created just recently, and we all understand that a lot of information to move from one network to another takes a long time, so the old projects keep their system on their main network ethereum and add support from smaller networks to meet the needs of customers. These competitors are not a declaration of war, they are senders of intimate messages to each other to improve the field more, from cost to network.
I am not entirely sure if I would name it that way. I mean surely there is a competition and surely some are using some cheeky tactics there is no denying that, but a "declaration of war"? That seems a bit too much to say. It is just good old business method to get your competition out of the way by using the most you could use.In most cases that is as risky as it gets and you might be considered doing something illegal in most fiat companies when you try to take a slight edge over others, but as long as you are not punished for it, or even not bothered by the punishment, that's fine. Look at Deutsche Bank, they were given billions in punishment, and that was nothing to do them because they made more in profit, that is how you get ahead in business world. It is ruthless and cunning, it is bad for rest of us, but it is how it's done.
it's just a matter of time and they'll be finished up. good example is dropping the case with mist
ETH network gas fees are currently very high, but the transaction process using the ethereum network is very fast and easier to understand and ETH is already available on every major exchange in crypto, making it very universal in terms of making transactions. I never thought that ethereum would be defeated by its competitors just because of the high fees, I'm sure other alternative networks will also experience an increase in gas costs if many users make exchange transactions on their network,
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.
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