Will competitors overcome ETH due to ever-increasing gas fees?

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Quote from: Sanitough on February 18, 2022, 04:01:33 PM

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But the question is when will it definitely take place? Because this has been the users' problem in the previous years and up to the present, and until now there are still no definite time when will developers can fix it. Yes, they have come up with rebranding which tends to make ethereum more useful from its users but the main problem which is to reduce the gas fees which is until now not given a good solution.

Do they really have a solution for the high gas fees, i doubt they already have one nor a time frame when that would be solved, if they already have a solution, they would have implemented that because they were really vocal when the transaction fees of BTCitcoin were rising in the past and was mocking us, so they better find a solution ASAP or other networks will have a share of the userbase which they already have as many projects moved to multiple chains.

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Quote from: Sanitough on February 18, 2022, 04:01:33 PM

Quote from: FLoving on February 18, 2022, 01:44:38 PM

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I think it is very difficult to beat Ethereum, it can be said that ethereum and the ERC-20 platform are the rulers in cryptocurrencies, for example USDT which has become the price standard with the largest transaction volume beat bitcoin.

If we talk about the usage of platform for other projects then other platforms found it easy to compete Ethereum because the problem appeared to ethereum was the high gas fees. If that was not happened to ethereum platform then it would be difficult for other platforms to compete it. Now binance, solana etc are accepted by people. But polygon is also an alternative of them which we can put in the support of ethereum. Along with that the developers of Ethereum are working to decrease the gas fees and then it will be difficult for all other projects to compete it.

But the question is when will it definitely take place? Because this has been the users' problem in the previous years and up to the present, and until now there are still no definite time when will developers can fix it. Yes, they have come up with rebranding which tends to make ethereum more useful from its users but the main problem which is to reduce the gas fees which is until now not given a good solution.

^ Is the volume 2 version of ETH has been already release?
That is the main problem of ETH as now the same problem with the BTC before when the gas fee becomes increase. I think there is no solution for that, the network of the ETH becomes congested because of many uses of this. So the only way for ETH not to become congested is to use other networks that can be used like ETH. There could be a potential competitor but when it comes to network it seems ETH is a perfect one.

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Quote from: FLoving on February 18, 2022, 01:44:38 PM

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I think it is very difficult to beat Ethereum, it can be said that ethereum and the ERC-20 platform are the rulers in cryptocurrencies, for example USDT which has become the price standard with the largest transaction volume beat bitcoin.

If we talk about the usage of platform for other projects then other platforms found it easy to compete Ethereum because the problem appeared to ethereum was the high gas fees. If that was not happened to ethereum platform then it would be difficult for other platforms to compete it. Now binance, solana etc are accepted by people. But polygon is also an alternative of them which we can put in the support of ethereum. Along with that the developers of Ethereum are working to decrease the gas fees and then it will be difficult for all other projects to compete it.

But the question is when will it definitely take place? Because this has been the users' problem in the previous years and up to the present, and until now there are still no definite time when will developers can fix it. Yes, they have come up with rebranding which tends to make ethereum more useful from its users but the main problem which is to reduce the gas fees which is until now not given a good solution.

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I think it is very difficult to beat Ethereum, it can be said that ethereum and the ERC-20 platform are the rulers in cryptocurrencies, for example USDT which has become the price standard with the largest transaction volume beat bitcoin.

Comparing a stablecoin with bitcoin is not entirely correct, since initially they have a completely different purpose. Therefore, based on their purpose, stablecoins have a very large volume of trade and the number of transactions, and this applies not only to USDT, but also to other stablecoins.

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I think it is very difficult to beat Ethereum, it can be said that ethereum and the ERC-20 platform are the rulers in cryptocurrencies, for example USDT which has become the price standard with the largest transaction volume beat bitcoin.

If we talk about the usage of platform for other projects then other platforms found it easy to compete Ethereum because the problem appeared to ethereum was the high gas fees. If that was not happened to ethereum platform then it would be difficult for other platforms to compete it. Now binance, solana etc are accepted by people. But polygon is also an alternative of them which we can put in the support of ethereum. Along with that the developers of Ethereum are working to decrease the gas fees and then it will be difficult for all other projects to compete it.

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I think it is very difficult to beat Ethereum, it can be said that ethereum and the ERC-20 platform are the rulers in cryptocurrencies, for example USDT which has become the price standard with the largest transaction volume beat bitcoin.

To me that is a bad example, after all where most of that volume comes from? Will that volume exist if bitcoin was not created on the first place? And finally are people actually using USDT for anything other than trading and speculating with the price of other coins? Bitcoin is the coin that is actually being used to make purchases on the Internet and the huge volume that we see for USDT and other stable coins is entirely dependent on it.

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Ethereum competitors always offer solutions to problems that occur on ethereum, all projects based on their blockchain network are competing to create a network that is simple, inexpensive, and easy for anyone to use. So far SOL and BNB are projects that look capable of competing with ethereum.

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Of course projects that have similarities with ethereum will compete to overcome ethereum problems, such as BNB and SOL. So far, they have been able to overcome the high gas costs with their own network but have little in common with the ethereum network, so it is not difficult for newcomers who want to learn about their network because they have mastered the ethereum network before.

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Many people think that expensive gas costs make ETH users will be abandoned by users, the fact that almost a year is happening but ETH is still strong, I think expensive gas will not be used to create a scam project, so the other side is many projects that use the ERC-20 network and get Great appreciation of investors.

agree with you. expensive gas will make the project scam naturally reduced. from the beginning i knew cryptocurrency, i was more interested in ethereum and bitcoin. although many other altcoins have appeared, i still use ethereum.

and look at how ethereum is currently developing, the results are really very good. so the high price of ethereum gas will not reduce their interest in using this network.

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Quote from: South Park on February 10, 2022, 12:55:05 PM

Quote from: TheGreatPython on February 02, 2022, 03:59:00 PM

Quote from: South Park on February 02, 2022, 12:46:03 PM

Without a doubt the ethereum network is in problems, years ago it did not really had any competitor so they could get away with whatever fees you needed to pay as there was no alternative, but things have changed since then, I do not know if it is because the developers always thought this was going to be the case or it is just another case of ineptitude but they cannot allow this to continue, otherwise people are going to move on permanently from their platform, and that is not something they want.

It wouldn’t be much of a challenge to them in the sense that people wouldn’t leave their platform to start making use of another cryptocurrency. There are already lots of alternative to it (Ethereum); lots of good currencies that we see these days that are known as the ethereum killers, but none of them has been able to leave up to that name, they are no where close to that idea of beating Ethereum to the top position.

So, ETH still maintains its position as king of the altcoins in the market. People are not ready to switch, and very soon the ETH 2.0 as the OP has said, would be released and that would also give ethereum a better edge over other cryptocurrencies in the market.

Ethereum is too big to fall just because there are other alternatives, however it could happen the same thing that happens to old trees, they look great on the outside but on the inside they are completely dead, ethereum is still doing fine, but if something is not done to solve their problems then the competition will keep on taking projects and users out of them, until a breaking point is reached from which it could be impossible for ethereum to recover.

But i believe before it happens, the development team of ethereum are already fixing the problem. But since the problem is not yet fixed, this will give more chances for the other alternatives to improve their services so that they can attract or worst pirate those ethereum users who are seeing the current problem as a big barrier. Though ethereum is still the leading network, and its still the most secured and established one, but that does not guarantee the loyalty of all users if even the most basic problem cannot be resolved.

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Quote from: TheGreatPython on February 02, 2022, 03:59:00 PM

Quote from: South Park on February 02, 2022, 12:46:03 PM

Without a doubt the ethereum network is in problems, years ago it did not really had any competitor so they could get away with whatever fees you needed to pay as there was no alternative, but things have changed since then, I do not know if it is because the developers always thought this was going to be the case or it is just another case of ineptitude but they cannot allow this to continue, otherwise people are going to move on permanently from their platform, and that is not something they want.

It wouldn’t be much of a challenge to them in the sense that people wouldn’t leave their platform to start making use of another cryptocurrency. There are already lots of alternative to it (Ethereum); lots of good currencies that we see these days that are known as the ethereum killers, but none of them has been able to leave up to that name, they are no where close to that idea of beating Ethereum to the top position.

So, ETH still maintains its position as king of the altcoins in the market. People are not ready to switch, and very soon the ETH 2.0 as the OP has said, would be released and that would also give ethereum a better edge over other cryptocurrencies in the market.

Ethereum is too big to fall just because there are other alternatives, however it could happen the same thing that happens to old trees, they look great on the outside but on the inside they are completely dead, ethereum is still doing fine, but if something is not done to solve their problems then the competition will keep on taking projects and users out of them, until a breaking point is reached from which it could be impossible for ethereum to recover.

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I think the Ethereum devs will act as if they haven't heard our complaints about high gas costs, and they will delay 2.0 until when they don't want to know because as long as the blockchain is running, it's enough for them to see us suffer.
I'd rather hope for another blockchain development company with a more reasonable fee than rely on cheap gas fees on the Ethereum blockchain.

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Quote from: Farma on February 06, 2022, 03:35:20 AM

hope it actually happens in the near future. maybe, there will be a lot of coins that are currently an alternative, will return to dim if ethereum has made the fee cheap again. however, it seems that even when the ethereum fee returns to a low price, the BSC will still be around and used. ..

Naturally, after the launch of ETH-2.0, all these alternative blockchains will continue to work, since they have their own infrastructure built in these networks. But under equal conditions, users and developers will choose the Ethereum blockchain, as it is currently the most reliable.

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transaction fees will not ruin Ethereum, it will make it more resilient to spam messages
L1 is not for retail users anymore, you have L2 to use it with low fees, but security attached to Ethereum platform

alternatives that have lower fees are mostly centralized, since you cannot have decentralization, speed and security without compromise on any of them
always DYOR prior to investment

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Quote from: tvplus006 on February 05, 2022, 04:46:03 PM

Due to the low fees in alternative networks, they have an advantage over the Ethereum blockchain. But this advantage will disappear when Ethereum developers solve the scalability problem. And it will be solved if the implementation of ETH-2.0 is not postponed once again.

hope it actually happens in the near future. maybe, there will be a lot of coins that are currently an alternative, will return to dim if ethereum has made the fee cheap again. however, it seems that even when the ethereum fee returns to a low price, the BSC will still be around and used. Until now, there have been quite a number of project developments that have moved their chain from ERC20 to BSC, even for older projects. well, the longer ethereum 2.0 is developed, the more alternatives that currently can make ethereum dim.

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I don't think so, ETH is the second most popular cryptocurrencies after bitcoin and it has lasted more than 5 years, to shift ETH is certainly very difficult, and most ETH investors don't really make transaction fees a big problem because they buy and hold for the medium term or at least 3 months.

Seriously, don't you ever see the fact that happens in the market right now? People are slowly migrating from ethereum network. You can also check it on etherscan as well and it will give you the accurate data about how much daily transactions that is happening in ethereum network and it's less than 2 millions transactions while another blockchain has been performing more than 6 millions transactions everyday. That means if people are more active using another blockchain compared with ethereum but i can sure that if an ethereum user was also using another blockchain as well.
It's only for the ethereum long term investors but that will quite different when it comes to the people who interested to use it for dapps or play the blockchain game.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain?

Although the ETH gas fee is very high compared to other network fees, I am still doubtful that they can defeat the ETH network.
So far, the Ethereum network still become the favorite. although some new projects also change into others.
Ethereum networks may have hard competitors if they cannot decrease the fees. Although they have been number 1 for a long time ago, they should also pay attention to their users.
I know that it may be hard for competitors to defeat Ethereum, but, it may be not good if many more users and developers will prefer to use alternative of Ethereum network?

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Quote from: freedomgo on February 05, 2022, 04:38:18 PM

...Meanwhile, while ethereum transaction fees is still not resolved, this will give more chances for the competitors to improve their network so the people will have valid reason to shift to them, and thus a healthy competition will rise. Though its still hard to replace ethereum, but if the competitors have better offers, then why not?

Due to the low fees in alternative networks, they have an advantage over the Ethereum blockchain. But this advantage will disappear when Ethereum developers solve the scalability problem. And it will be solved if the implementation of ETH-2.0 is not postponed once again.

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Quote from: adiebitsler on February 03, 2022, 02:23:50 AM

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I think it is too far and too complicated to understand. Almost all people are really looking forward to something that can make Ethereum back into a positive conversation and no longer complain about, especially the high gas costs.

Ethereum transaction gas will always remain high as long as there are no good upgrades to the Ethereum network, because the real Ethereum has needed it for a long time because Ethereum enthusiasts are still very large and large amounts of transactions are still happening very often on Ethereum now.

On the one hand, it is difficult for ETH competitors to beat ETH because the volume of Ethereum is very high. After that, there are also many supporting communities. ETH 2.0 might be a solution, but it won't be this year.

The most awaited upgrade for ethereum will hopefully solve the issue and create ways to reduce the gas fees, though its still uncertain when will it take place. Meanwhile, while ethereum transaction fees is still not resolved, this will give more chances for the competitors to improve their network so the people will have valid reason to shift to them, and thus a healthy competition will rise. Though its still hard to replace ethereum, but if the competitors have better offers, then why not?

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I don't think so, ETH is the second most popular cryptocurrencies after bitcoin and it has lasted more than 5 years, to shift ETH is certainly very difficult, and most ETH investors don't really make transaction fees a big problem because they buy and hold for the medium term or at least 3 months.

If Ethereum is a long-term investment, then your response is correct that big investors don't really care about the cost of ETH gas. However, the Ethereum side should also consider small investors because they make up the Ethereum community a lot.

The high gas fees for ethereum can only be affordable for rich investors but for middle class investors, it will always be a barrier. However, that will not be enough for investors to shift into ethereum's alternatives because as long as ethereum still provides fast and reliable transactions, it will always be worth it. And as the upgrade will be happening soon, thus it will add more growth to ethereum network.

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Actually now we have often seen the ethereum network start to use a little because we have switched to a faster and cheaper network, now that ethereum competitors are getting more and more, AVAX, MATIC, SOL, BNB are competitors that are currently also popular. If ethereum relaxes in dealing with this gas problem ethereum will soon be replaced.

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Cryptocurrencies competition is of course very tight and anything can happen, look at the current top 10 and compare a year or so ago it will be very different, Ethereum even though it has a strong market and community but it is still easy to shift to other altcoins such as BNB or others.

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Quote from: CaVO32 on February 02, 2022, 02:35:13 PM

If this will continue this year, I believe the competitors has high chance to get a large part of market from ETH network. Actually, the number of users are growing in the competitor networks such BSC, SOL, MATIC and others, because they have much cheaper fees than ETH. They may not easily surpassed ETH but they can get good percentage of the ETH's market especially those small traders. This year, we will see what's the status of ETH 2.0 will be.

Yes, indeed, the number of users in alternative networks is steadily increasing, but there is no significant decrease in the Ethereum network. And there is a reasonable explanation for this, that the total number of users is also steadily increasing, and in addition, each user uses several blockchains for their needs at the same time.

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I think it is too far and too complicated to understand. Almost all people are really looking forward to something that can make Ethereum back into a positive conversation and no longer complain about, especially the high gas costs.

Ethereum transaction gas will always remain high as long as there are no good upgrades to the Ethereum network, because the real Ethereum has needed it for a long time because Ethereum enthusiasts are still very large and large amounts of transactions are still happening very often on Ethereum now.

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Quote from: darewaller on February 02, 2022, 04:19:32 PM

These coins has the advantage of being the first , and it would be difficult for any other cryptocurrency to take over that position. As long as the coin that we’re talking about here is a coin with a strong community and a really strong platform, then it wouldn’t be overtaken. And also the ETH 2.0 is going to be a better version than what we have now, and the arrival is close.

Yes you are right, people's are too quick the forget ethereum has been working on itself for years now. They saw the problem of high fees and are trying alternative solution to make fees lesser and immediately that is achieved, I do not think any other smart contract project will be closed to it.

If it is this costly yet has the highest adoption now imagine when it has Solana or Binance smartchain kind of fees. All developers will leave other blockchain and come developer on ethereum not just because it is very easy to work with but because of its popularity and now less fees.

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Quote from: tvplus006 on February 02, 2022, 01:21:15 PM

It is the high gas fees that confirm that the Ethereum blockchain is the most in demand for the use of DeFi protocols and Yield Farming. They lead to an excessive load of the blockchain, which is the reason for the high cost of transactions. Thus, when the scaling problem is solved, and it will eventually be solved, we will see low commissions again, but they will still be higher than in alternative networks. In addition, the high cost of ETH also negatively affects
the cost of transactions.

You can say that the Ethereum blockchain is in high demand because of the thousands of shit coins that are floating in the market that are built on the ETH platform. So that you cannot literally say that the demand is really high for DeFi and yield farming. The scaling problem is going on for a while and it is almost a year and there is nothing they have done to counter the huge transaction fees and what do you expect they will be planning to implement and when as there is no time frame i can see.

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This is the same question that we all ask about bitcoin’s high fees and whether it would be replaced by another cryptocurrency with a lower price of transaction. But, ever since then what has happened? Bitcoin has still been able to maintain its top position in the market. So in this case of ethereum, I also believe that ethereum would be able to maintain its position as the number one altcoin in the market.

These coins has the advantage of being the first , and it would be difficult for any other cryptocurrency to take over that position. As long as the coin that we’re talking about here is a coin with a strong community and a really strong platform, then it wouldn’t be overtaken. And also the ETH 2.0 is going to be a better version than what we have now, and the arrival is close.

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Quote from: South Park on February 02, 2022, 12:46:03 PM

Without a doubt the ethereum network is in problems, years ago it did not really had any competitor so they could get away with whatever fees you needed to pay as there was no alternative, but things have changed since then, I do not know if it is because the developers always thought this was going to be the case or it is just another case of ineptitude but they cannot allow this to continue, otherwise people are going to move on permanently from their platform, and that is not something they want.

It wouldn’t be much of a challenge to them in the sense that people wouldn’t leave their platform to start making use of another cryptocurrency. There are already lots of alternative to it (Ethereum); lots of good currencies that we see these days that are known as the ethereum killers, but none of them has been able to leave up to that name, they are no where close to that idea of beating Ethereum to the top position.

So, ETH still maintains its position as king of the altcoins in the market. People are not ready to switch, and very soon the ETH 2.0 as the OP has said, would be released and that would also give ethereum a better edge over other cryptocurrencies in the market.

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Quote from: tvplus006 on February 02, 2022, 01:21:15 PM

Quote from: KaliLinux on January 31, 2022, 04:31:54 AM

Maybe this could be the option for them Undecided

if they have constantly failed to resolve a single problem everyone has been complaining about.
I was reading this article sometime last year The top 5 ‘Ethereum killers’ of 2021 and it is obvious that these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

It is the high gas fees that confirm that the Ethereum blockchain is the most in demand for the use of DeFi protocols and Yield Farming. They lead to an excessive load of the blockchain, which is the reason for the high cost of transactions. Thus, when the scaling problem is solved, and it will eventually be solved, we will see low commissions again, but they will still be higher than in alternative networks. In addition, the high cost of ETH also negatively affects the cost of transactions.

If this will continue this year, I believe the competitors has high chance to get a large part of market from ETH network. Actually, the number of users are growing in the competitor networks such BSC, SOL, MATIC and others, because they have much cheaper fees than ETH. They may not easily surpassed ETH but they can get good percentage of the ETH's market especially those small traders. This year, we will see what's the status of ETH 2.0 will be.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why?

They would not, just as nobody in the right senses will abandon bitcoin for the development of altcoins instead they will combine both. Ethereum is very easy to use and more popular than most of the new smart contract blockchain. It will take years before any of them can catch up and as they are trying the catch up so is Ethereum advancing in the technology.

Before we did not have concept like decentralized finances (Defi) or Decentralized autonomous organization (DAO) but now we have all this new trend coming up on the Ethereum blockchain before other blockchain starts adoption it. Ethereum will always lead the way.

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Of course they can, and I think they will surpass if the developers pull with the ETH 2.0 update, these are such as bsc, polygon, solana, where the price for gas is about $ 0.5 and it's great, compared to $ 30-50 at best, and modet and all $ 100 with swap on dex exchanges.

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Quote from: KaliLinux on January 31, 2022, 04:31:54 AM

Maybe this could be the option for them Undecided

if they have constantly failed to resolve a single problem everyone has been complaining about.
I was reading this article sometime last year The top 5 ‘Ethereum killers’ of 2021 and it is obvious that these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

It is the high gas fees that confirm that the Ethereum blockchain is the most in demand for the use of DeFi protocols and Yield Farming. They lead to an excessive load of the blockchain, which is the reason for the high cost of transactions. Thus, when the scaling problem is solved, and it will eventually be solved, we will see low commissions again, but they will still be higher than in alternative networks. In addition, the high cost of ETH also negatively affects the cost of transactions.

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Quote from: KaliLinux on January 31, 2022, 04:31:54 AM

Quote from: cryptoaddictchie on January 25, 2022, 09:54:21 AM

I think competitors are already on the move. There are some L1 operating and some of those eth pioneer are already using those alternatives due to eth high gas fee. We cant blame them as the eth network really pain the ass having huge fee for every transactions. These will be limited only to whales cause potential builders and traders will be hurt with such fee.

Maybe this could be the option for them Undecided

if they have constantly failed to resolve a single problem everyone has been complaining about.
I was reading this article sometime last year The top 5 ‘Ethereum killers’ of 2021 and it is obvious that these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

but on the other hand we must also be able to see that they are also following in the footsteps of ETH and even though they are predicted to be able to turn off ETH but so far no one has actually been able to target it.
In fact, I feel that having other competitors will be beneficial for ETH as well as for others.
because indeed we still have options and indeed the ETH killer that is predicted to have problems also in it such as lots of scam tokens and others because it is easy to access in making tokens because of the low cost required

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Quote from: goaldigger on January 25, 2022, 03:57:55 PM

If ETH can’t address the problem, then most probably other network will take over who offers a faster and cheaper network. I see SOL to close enough for this, if the hype of ETH slowly gone I’m sure its competitor have a better chance now. We’ve been raising the problem since then but until now there’s no solutions ETH should aware of this, and assure the public that they are already working on this, unfortunately there’s no news about this.

Without a doubt the ethereum network is in problems, years ago it did not really had any competitor so they could get away with whatever fees you needed to pay as there was no alternative, but things have changed since then, I do not know if it is because the developers always thought this was going to be the case or it is just another case of ineptitude but they cannot allow this to continue, otherwise people are going to move on permanently from their platform, and that is not something they want.

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Quote from: tarable on January 27, 2022, 12:06:33 AM

If if binance and matic have prices adjacent to the price of the Ethereum, of course the cost of BSC and Matic gas will also be expensive on each transaction.

it shows that when the price of binance coin and matic got appreciated and then the gas is also increasing a little bit but it's good to see that the scalability have been preventing BSC and matic to have tbe same transaction feesl like ethereum. It seems like that people are still trading on ethereum blockchain caused by it's not all of assets available in the layer 2 ethereum blockchain. You must also see that some tokens like shiba inu was only using ethereum as its main chain. it doesn't even think to migrate into the another blockchain and that makes people have no choice other than trade in ethereum blockchain. that's why some people are still choosing ethereum over layer 2 solutions that exist in the market. BSC and matic scalable enough to handle massive transactions and it can be seen from the daily transactions happened in the network.

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I believe there's a chance that many believers of eth will gonna use other assets just to prevent paying mas fees if ethereum team didn't make a move and keep ignoring thus feed backs about the current situation.. As the matter of fact every update there's a lot of people expecting that the fees will decrease but still the same until now.. So if it will last for sure many people will find another way to continue their work instead of waiting for Ethereum fees to decrease, and of course their choice will be the competitors..

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Quote from: KaliLinux on January 31, 2022, 04:31:54 AM

these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

Actually yes. With their low fees ecosystem, these platform can somehow advanced more than eth system. Avalanche almost same in usage of transactions already so its a matter of time some will realize this and constantly shift from eth to avax or other L1 project. Im sure eth network wouldnt like that but with their problems there is no other choice for some users who cant take expensive gas fee.

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Quote from: cryptoaddictchie on January 25, 2022, 09:54:21 AM

I think competitors are already on the move. There are some L1 operating and some of those eth pioneer are already using those alternatives due to eth high gas fee. We cant blame them as the eth network really pain the ass having huge fee for every transactions. These will be limited only to whales cause potential builders and traders will be hurt with such fee.

Maybe this could be the option for them Undecided

if they have constantly failed to resolve a single problem everyone has been complaining about.
I was reading this article sometime last year The top 5 ‘Ethereum killers’ of 2021 and it is obvious that these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer.

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But I still doubt that the team from Ethereum is willing to do it because the issue of releasing 2.0 is not current but has been on the table for a long time.

something like fixing the gas price is a lot more complicated than it seems.
even until right now the team behind ethereum could still do very little in fixing this problems that the rest of smart contract platform that was initially created as layer 2 solution started flourishing and becoming more and more dominant.
there is always big fat chance that ethereum gonna be irrelevant in the future considering it’s really slow in fixing its problems, that the second layer solution blockchains are getting more and more promising projects like the metaverses that could gives them an opportunity of becoming a real ethereum killer in the future.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

Yes and even avalanche will be almost surpassing ethereum in term of transaction volume. The new announcement from ethereum developers if ethereum 2.0 will be gone and the scalabilty solution may get delayed has created another fear again if people can't use ethereum blockchain anymore due to the transaction fees. Miners and developers can't work together to fix the problem. More and more people feeling tired with ethereum gas fees. They are migrating to the another blockchain and they rarely came back in again caused by the new blockchain make them feel confident. Ethereum is always forcing people to pay more from what they can afford. Expensive transaction in the world.

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Quote from: Sterbens on January 27, 2022, 09:55:33 AM

Quote from: tarable on January 27, 2022, 12:06:33 AM

Quote from: fadil46 on January 26, 2022, 04:59:11 AM

Quote from: tarable on January 26, 2022, 01:36:02 AM

during this time or in the last few days have you made transactions through the ETH network so you say that the gas costs on ETH will remain the same.
the high cost of ETH gas because the price of ETH is also high among other altcoin prices. if the price of ETH is cheap, of course gas costs are also cheap.

What you are saying is very true because in the past when the price of ETH was still $100, the cost of Gas was very cheap even though the amount of Gas limit for transactions was not much different from today so what really feels right now is when the price of ETH continues to increase, then influence on the cost of Gas will also be there.

So it was no longer suitable to discuss the high expensive gas ETH. If if binance and matic have prices adjacent to the price of the Ethereum, of course the cost of BSC and Matic gas will also be expensive on each transaction.

If we often play with Ethereum fees, it might be familiar to take advantage of the FTX exchange which is quite friendly with its fees that do not pose a barrier to its users. As far as I'm concerned, it's a pretty good alternative to always using Ethereum fees for one or 2x deliveries. Btw, almost everyone complained for a long time, but Ethereum remains deaf and only prioritizes the big merchants.

ETH 2.0 which was planned to be released has not yet happened. maybe ETH 2.0 will be the same as what happened to BTC at that time the problem of high transaction fees.
from the ETH 2.0 plan which many people say will be a solution to the high cost of gas, then we'll see if it really will be a solution or not.

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Quote from: rozak on January 27, 2022, 10:18:23 AM

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It will not necessarily be cheap if Ethereum 2.0 is successfully launched in the near future because the gas count on each transaction will also be the same according to the price of Ethereum.
The current competitor of Ethereum will also suffer the same fate as Ethereum regarding the cost of gas at some point if the price of the competitor's coin equals the price of ETH.

that's not necessarily the case either. not because the price is expensive and transaction costs also increase.
Bitcoin used to have a pretty hefty transfer fee as well. but now it's been greatly simplified.
Ethereum 2.0 attempts to address this issue. Success or not, it all depends on how the result will be. if it's still high, I think this is indeed an opportunity for BSC, Polygon, and Solona who will continue to increase their adoption.

Let's wait if it's true that Ethereum can simplify gas costs when we make transactions like what happened with Bitcoin. But I still doubt that the team from Ethereum is willing to do it because the issue of releasing 2.0 is not current but has been on the table for a long time.

We'd better leave this matter completely to the team and hope they really get over the high transaction fees,
I realize it's not an easy job but I still believe in the Ethereum team,
The most important thing is to just follow the developments

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The delay in ETH 2.0 will increase the growth of ETH competitors because most of the crypto community not using ETH network due to high gas fees and there is a new solution of ETH network is layer 2 but you need to high pay gas frees from transfer funds from L1 to L2 but can save gas fees on L2, gas fees issued should be fixed on ETH network soon so that user can use the ETH network instead of others networks.

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Quote from: bounceback on January 26, 2022, 02:11:30 AM

Quote from: topbitcoin on January 26, 2022, 01:23:53 AM

Overcome or vanquish maybe still need longer time, since ETH still be top of coins although people start to change to new coins, we can see although BEP20 network already launched for year but ETH still dominate and price still much more than BNB. I am not said that it is impossible to happen, but maybe need longer time than we expected.

Yes, so far ETH is still the king of all altcoins on the market, so in my opinion even though transaction fees continue to increase, it certainly will not make the price of this coin lose its value, because on the other hand ETH has become one of the most popular coins and many investors interested in investing with it so it will continue to help the price of the ETH coin become more valuable in the future.

People keep said about fee, but ETH itself have feature which maybe attract their investor like more coin to mining or maybe when in POS, ETH can made people start to buy it and make demands. (to be honest i am not really know when is POS, or maybe POS already started because not follow ETH progress) but my amateur opinion says that it can create demands for ETH.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain?

The three strongest Ethereum challengers I know of are Cardano, Solana, and Avalanche; I see these three currently as the biggest challengers, but I still don’t think that any of them would be able to beat Ethereum, because has the first movers advantage over all of them. It’s just like the same advantage that bitcoin has over every other coin there is in the market.

So, Ethereum would continue to beat them for now, and possibly for good, because of the new ETH 2.0 that is going to be launched soon and is believed to be far much better than the current version of ETH. So for me, Ethereum still stays at the top and winning.

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It will not necessarily be cheap if Ethereum 2.0 is successfully launched in the near future because the gas count on each transaction will also be the same according to the price of Ethereum.
The current competitor of Ethereum will also suffer the same fate as Ethereum regarding the cost of gas at some point if the price of the competitor's coin equals the price of ETH.

that's not necessarily the case either. not because the price is expensive and transaction costs also increase.
Bitcoin used to have a pretty hefty transfer fee as well. but now it's been greatly simplified.
Ethereum 2.0 attempts to address this issue. Success or not, it all depends on how the result will be. if it's still high, I think this is indeed an opportunity for BSC, Polygon, and Solona who will continue to increase their adoption.

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Quote from: Cornia on January 26, 2022, 06:07:20 PM

Quote from: doomloop on January 26, 2022, 02:45:27 PM

Most of the complaints that we heard are only from the normal users . well they do not need to force them selves of staying here because there are lots of cryptos lying around that also have the same potential as ETH. Time can only tell if when will ETH return to normal.

There is no need to use ETH network for small amount of crypto transactions. Now there are many networks in which the fee is very low such as BSC, Polygon Network, Terra, Solana etc. Normal users can use these networks. Even ETH can be transferred for a small fee using BSC Network.

This is an interesting view, referring to normal users. You dont say what you define the rest of the users as - perhaps they can be called "elite" users? I saw today yet another NFT launched on ETH. Perhaps ETH will remain as the elite alt-coin chain for high value NFTs and big shot contracts, and the rest of the normal users will use the new cheaper chains.

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Only the rich in the crypto world can use ethereum because they can afford to pay higher gas. Competitors are taking the opportunity to shine as Ethereum struggles with lowering their gas fee. But despite of higher gas fee Ethereum still the best altcoin to invest. Maybe for now BSC and Polygon is the best alternative to use for making transactions but I still believe that someday Ethereum will come back with the lowest gas fees.

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Quote from: tarable on January 27, 2022, 12:06:33 AM

Quote from: fadil46 on January 26, 2022, 04:59:11 AM

Quote from: tarable on January 26, 2022, 01:36:02 AM

during this time or in the last few days have you made transactions through the ETH network so you say that the gas costs on ETH will remain the same.
the high cost of ETH gas because the price of ETH is also high among other altcoin prices. if the price of ETH is cheap, of course gas costs are also cheap.

What you are saying is very true because in the past when the price of ETH was still $100, the cost of Gas was very cheap even though the amount of Gas limit for transactions was not much different from today so what really feels right now is when the price of ETH continues to increase, then influence on the cost of Gas will also be there.

So it was no longer suitable to discuss the high expensive gas ETH. If if binance and matic have prices adjacent to the price of the Ethereum, of course the cost of BSC and Matic gas will also be expensive on each transaction.

If we often play with Ethereum fees, it might be familiar to take advantage of the FTX exchange which is quite friendly with its fees that do not pose a barrier to its users. As far as I'm concerned, it's a pretty good alternative to always using Ethereum fees for one or 2x deliveries. Btw, almost everyone complained for a long time, but Ethereum remains deaf and only prioritizes the big merchants.

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Quote from: fadil46 on January 26, 2022, 04:59:11 AM

Quote from: tarable on January 26, 2022, 01:36:02 AM

during this time or in the last few days have you made transactions through the ETH network so you say that the gas costs on ETH will remain the same.
the high cost of ETH gas because the price of ETH is also high among other altcoin prices. if the price of ETH is cheap, of course gas costs are also cheap.

What you are saying is very true because in the past when the price of ETH was still $100, the cost of Gas was very cheap even though the amount of Gas limit for transactions was not much different from today so what really feels right now is when the price of ETH continues to increase, then influence on the cost of Gas will also be there.

So it was no longer suitable to discuss the high expensive gas ETH. If if binance and matic have prices adjacent to the price of the Ethereum, of course the cost of BSC and Matic gas will also be expensive on each transaction.

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Quote from: masterrex on January 25, 2022, 07:46:58 AM

IMO, I believe if the Ethereum developers will remain deaf to the appeal of its users and still not fix those expensive transaction fees, they might wake up someday that most of its users are gone and already jump to other cost-efficient networks. as we observe today the crypto industry nowadays has changed a lot because of the strong competition that's why the more they delayed the Ethereum 2.0 implementation the more they will loosen its grip and the dApp market domination.

It's already happening look at new projects coming in their token is hosted in Binance or Polygon chain and if they are hosted n the Ethereum chain the creators also created a bridge in the Binance smart chain, they are the ones that started the smart contract technology but with the growing numbers of users they cannot keep up with it, they should act fast and address the issue I have some tokens that I cannot trade because the fee is half of the value of the tokens I'm trading.

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Quote from: Cornia on January 26, 2022, 06:07:20 PM

Quote from: doomloop on January 26, 2022, 02:45:27 PM

Most of the complaints that we heard are only from the normal users . well they do not need to force them selves of staying here because there are lots of cryptos lying around that also have the same potential as ETH. Time can only tell if when will ETH return to normal.

There is no need to use ETH network for small amount of crypto transactions. Now there are many networks in which the fee is very low such as BSC, Polygon Network, Terra, Solana etc. Normal users can use these networks. Even ETH can be transferred for a small fee using BSC Network.

This is the reason why these new networks are getting popular because of cheaper fees.
I am seeing that several exchanges are including these networks already - BSC, MATIC, SOL.
For now, they may not surpass yet the popularity of ETH. But it seems their usage is growing.
If ETH will continue to have expensive fees, these networks will gain more users specially those small traders.

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Maybe it will. Although it may not replace, the trust and usage of Ethereum platform will be exactly decreased.
We can compare how the fee of transfer in ethereum network is crazy high enough. We can compare how high we must send USDT with ethereum network from an exchange or wallet to others. It needs very high feee. COmpared with the BSC network, TRC, and other networks, it is so damn high. If ethereum cannot solve this problem, many new projects may leave this and prefer to use another network.
I so far always try to use network that uses lower fees, and moreover they also have quite similar speed on transactions.

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Quote from: doomloop on January 26, 2022, 02:45:27 PM

Most of the complaints that we heard are only from the normal users . well they do not need to force them selves of staying here because there are lots of cryptos lying around that also have the same potential as ETH. Time can only tell if when will ETH return to normal.

There is no need to use ETH network for small amount of crypto transactions. Now there are many networks in which the fee is very low such as BSC, Polygon Network, Terra, Solana etc. Normal users can use these networks. Even ETH can be transferred for a small fee using BSC Network.

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Quote from: bhadz on January 25, 2022, 04:57:19 PM

These competitors have also their bad description that others are seeing. I don't think that they'll be able to overcome eth just because of the fees.
Because if they have to overcome it, long time ago, they should already overtaken ethereum. But as much as we see in the market, still, there's no overtaking that's happening because eth is solid and still favorite of many despite the ouchy fees.

That is right, beating Ethereum at this time would be a really difficult thing to achieve. Ethereum has already reached a level where it would be very difficult for any other cryptocurrency to replace it.Now we are also about to have a new version of the blockchain which is the ethereum 2.0, and most people believe that this new version of ethereum is going to be far much better than the current one, and that means that it is going to beat every other competitor that there is in the market hands down.

So, the chances of all these altcoins that are called the ethereum competitors, beating ETH, is at 0%. And I don’t think that the organization is ready to give up on this fight, because as time goes on they would likely continue to upgrade the platform making sure that it stays up to the level it is meant to.

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Quote from: Cornia on January 26, 2022, 12:34:04 AM

Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

ETH is not a coin that competitors will vanquish. If it had, it would have vanished long ago. ETH is a very popular coin. ETH developers are trying to reduce its gas price. Not only ETH network but other network fees are slowly increasing. However, for those who do big amount transactions, gas fee is not a big issue yet.

ETH did not dispensary before because it was a good coin once but it changed slowly as the gas fees starts to increase uncontrollably. ETH is a coin that already built a strong foundation and it wont break easily just because of that problem and like you said there are big supporters left and they do not care paying extra bucks just to process a transaction because they can still benefit with it.

Most of the complaints that we heard are only from the normal users . well they do not need to force them selves of staying here because there are lots of cryptos lying around that also have the same potential as ETH. Time can only tell if when will ETH return to normal.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Developers are rolling organize overhauls, however gas expenses on ETH stay the same. It's exceptionally costly to perform exchanges on the Ethereum blockchain compared to other competing chains. The ETH 2.0 overhaul will lighten the circumstance but engineers keep postponing the same. Individuals are getting wiped out and tired of ETH's "slowing down" as expenses proceed to rise like there's no tomorrow. On the off chance that I'm not mixed up, engineers will delay the trouble bomb once more (by December) in arrange to drag out the PoW blockchain. The longer it takes for expenses to decay on ETH, the greater its competitors will grow.
Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

There are several reasons why ETH will remain for now. Some in my view:

It is the main Alt-Coin with BTC status of the alts. This has some goodwill value
Lots of big contracts on it
There is a ton of money in ETH with 185m accounts, 500k+ daily active as at the time of posting, even with these high fees
They will fix the transaction fees problem over time
Crypto Punks and Crypto Apes apes on ETH and if you have that type of money paying huge fees does not matter (tongue in cheek)

Having said this the longer the fee problem takes the more other platforms will develop. Other platforms have their own problems though and will also eventually suffer the same effect to some extent that ETH is suffering. Take Polygon for example. Poly suffered the recently due to Sunflower Farms and is still congested a lot. If you analyze the Polyscan explorer and look specifically at the gwei and pending transactions you can see it is also see delays building up and sometimes take long to process if the fees are too low. For some transactions you can see people just putting high fees in tx, just because they dont care and want their tx processed. As at time of posting Poly has 132m unique addresses and 300k-400k daily active addresses based on Polyscan graphs. Perception does play a big role and if ETH overplays its hand and is too complacent, you never know what might happen if perception becomes too negative on ETH and the ETH ecosystem cross-chain swaps on mass so to speak.[/list]

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

This problem has become very tiring for us who are waiting for changes in gas costs. But it will never end. No matter what Ethereum does, I will avoid them, and there are bigger profit opportunities out there. We still have Solana, Polygon, Terra, and Avax which are quite a cause for concern. Ethereum will only monopolize the market being unfriendly. As a small crypto user who only plays for under $100, it makes someone sick of dealing with the Ethereum network.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain?

I think it is very much possible when we have a competitor who can really take them out, because those I see now actually can't do that. Look at Solana that people thought could do something already has issues and this is why People keep using ETH network amidst its high gas fee because it keeps delivering for people when they need it the most. It is reliable and it is also very fast, the only problem I see is the high gas fee that I believe Ethereum network team should be working on.

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1 Million daily transaction from Ethereum Blockchain Vs. 6 Million daily transaction from Binance Smart Chain.
That itself is enough that most of the projects are either migrating or choosing Binance Smart Chain over Ethereum.

Not all users of these 2 coins are rich and most are just only have a small transactions so they are choosing a low transaction fee blockchain like Binance over high gas fees like Ethereum. There is no martyr that will spend a hundred dollars on gas fee for a ten dollar transaction. This high gas fees has been the problem of Ethereum for a long time already. Sharding is the solution of this but until now, it hasn't been implemented yet. Ethereum is slowly withering because they can't even solve this high gas fee problem that they are facing but hey.. there are still projects who are choosing Ethereum blockchain for some reasons.

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Quote from: tarable on January 26, 2022, 01:36:02 AM

during this time or in the last few days have you made transactions through the ETH network so you say that the gas costs on ETH will remain the same.
the high cost of ETH gas because the price of ETH is also high among other altcoin prices. if the price of ETH is cheap, of course gas costs are also cheap.

What you are saying is very true because in the past when the price of ETH was still $100, the cost of Gas was very cheap even though the amount of Gas limit for transactions was not much different from today so what really feels right now is when the price of ETH continues to increase, then influence on the cost of Gas will also be there.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Developers are rolling organize overhauls, however gas expenses on ETH stay the same. It's exceptionally costly to perform exchanges on the Ethereum blockchain compared to other competing chains. The ETH 2.0 overhaul will lighten the circumstance but engineers keep postponing the same. Individuals are getting wiped out and tired of ETH's "slowing down" as expenses proceed to rise like there's no tomorrow. On the off chance that I'm not mixed up, engineers will delay the trouble bomb once more (by December) in arrange to drag out the PoW blockchain. The longer it takes for expenses to decay on ETH, the greater its competitors will grow.
Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

I don't think so.

There are a ton of ETH alternatives right now that offer lower fees, yet they have never achieved the market cap or dominance of the Ethereum chain.

It's not just solely about the fees, it's also about the utility and innovation that comes with the ETH chain that simply cannot be replaced easily.

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Quote from: topbitcoin on January 26, 2022, 01:23:53 AM

Overcome or vanquish maybe still need longer time, since ETH still be top of coins although people start to change to new coins, we can see although BEP20 network already launched for year but ETH still dominate and price still much more than BNB. I am not said that it is impossible to happen, but maybe need longer time than we expected.

Yes, so far ETH is still the king of all altcoins on the market, so in my opinion even though transaction fees continue to increase, it certainly will not make the price of this coin lose its value, because on the other hand ETH has become one of the most popular coins and many investors interested in investing with it so it will continue to help the price of the ETH coin become more valuable in the future.

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That will happen if ethereum is completely abandoned. Ethereum's high gas makes not all projects enter easily, now very few projects are published on the erc20 network but are highly qualified. Here is the challenge for ethereum competitors if they can get better than what ethereum currently has it will definitely rival ethereum.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

Ethereum still has the big advantage that they are the first mover in terms of smart contract functionality on the Blockchain. Without that idea all the stuff that is possible within the crypto space like NFT and especially Defi applications would not be possible at all without the inventions of the ethereum team. The problem is that the Defi applications create so much traffic on the eth chain, that the network itself can almost not handle it anymore. I really hope eth 2.0 comes soon and brings down the gas fees to a normal price level again.

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during this time or in the last few days have you made transactions through the ETH network so you say that the gas costs on ETH will remain the same.
the high cost of ETH gas because the price of ETH is also high among other altcoin prices. if the price of ETH is cheap, of course gas costs are also cheap.

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Quote from: Cornia on January 26, 2022, 12:34:04 AM

Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

ETH is not a coin that competitors will vanquish. If it had, it would have vanished long ago. ETH is a very popular coin. ETH developers are trying to reduce its gas price. Not only ETH network but other network fees are slowly increasing. However, for those who do big amount transactions, gas fee is not a big issue yet.

Talking about Ethereum I think almost everyone knows that Ethereum is one of the most popular coins and certainly promises that there is no doubt about it,
but indeed the transaction fees can be said to be very high and I think that is a separate obstacle for Ethereum

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Overcome or vanquish maybe still need longer time, since ETH still be top of coins although people start to change to new coins, we can see although BEP20 network already launched for year but ETH still dominate and price still much more than BNB. I am not said that it is impossible to happen, but maybe need longer time than we expected.

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well, people nowadays are looking for cheap transaction fees. It's very clear at this point ethereum is a very good coin. however, since the fee from ethereum has gone up, I rarely use it. in fact, not only me, but most of the other people are like that too.
IMO, currently there are a lot of new projects that are developing their projects on the BSC network, one of which is for reasons of cheaper fees than ethereum. Well, personally, I think this is an important fact. so, if this continues, ethereum will lose its users.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

ETH is not a coin that competitors will vanquish. If it had, it would have vanished long ago. ETH is a very popular coin. ETH developers are trying to reduce its gas price. Not only ETH network but other network fees are slowly increasing. However, for those who do big amount transactions, gas fee is not a big issue yet.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

I don't think so, most of the existing networks will have high gas fees if the transactions are too congested, so people will still go for ETH if that's the case.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Developers are rolling organize overhauls, however gas expenses on ETH stay the same. It's exceptionally costly to perform exchanges on the Ethereum blockchain compared to other competing chains. The ETH 2.0 overhaul will lighten the circumstance but engineers keep postponing the same. Individuals are getting wiped out and tired of ETH's "slowing down" as expenses proceed to rise like there's no tomorrow. On the off chance that I'm not mixed up, engineers will delay the trouble bomb once more (by December) in arrange to drag out the PoW blockchain. The longer it takes for expenses to decay on ETH, the greater its competitors will grow.
Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

It's no longer called ETH 2.0. It's called consensus layer (ETH 2.0) and execution layer (ETH 1.0). Shifting from PoW to PoS won't have much affect on the gas price. It is going to be almost the same in the long run. Not sure about the TPS, but there probably won't be a huge difference. Data sharding is what everyone is waiting for. Sharding will reduce the fee on Layer1/Layer2 chains. For now, ETH is almost unusable for any small transaction or trades. It is the Layer 2 solution which is the future of Ethereum.

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Ethereum is indeed well-known as a network that has quite expensive fees today, there are even some transactions in purchasing coins that actually have fees that are more expensive than the price of the coin, and this is why now many cryptocurrency projects are starting to switch to using the BSC chain and also polygons, because the gas costs are much cheaper than eth, but even so, it will be very difficult for platforms like bsc and polygon to be able to beat ethereum at this time, because after all ethereum dominates smart contracts that are indisputable nowadays compared to BSC, besides that the nature of Since Ethereum has been completely decentralized for a long time, they are still believed to be the largest cryptocurrency chain that exists today.

In the past many Altcoins were built using smart contracts from Ethereum so that's what made Ethereum very popular and now BNB is also running this kind of thing through the BSC network by applying cheaper transaction fees than Ethereum so that Altcoin developers want to use it. BSC as a smart contract for their new token, as well as Polygon which has started to enliven this competition by implementing cheaper transaction fees from BSC so that new project developers will look at it as an extraordinary option at this time.

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Expensive transactions on the Ethereum network are a consequence of scalability problems. And at the moment when this problem is solved, and it will be solved sooner or later, alternative blockchains will lose their advantage, and with it users, for whom only the cost of transactions was important.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

....
Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

I don't think the current situation will change that much even if Ethereum 2.0 is delayed once again. Users are already "immune" to it and they have migrated a long time ago. New retail users will probably prefer other chains with cheaper fees but the larger liquidity will remain in Ethereum.

Mind you that some these competitors have been around for a long time already but they are still chasing until now.

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These competitors have also their bad description that others are seeing. I don't think that they'll be able to overcome eth just because of the fees.
Because if they have to overcome it, long time ago, they should already overtaken ethereum. But as much as we see in the market, still, there's no overtaking that's happening because eth is solid and still favorite of many despite the ouchy fees.

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It will definitely make a difference, but I do not think that it will get over ETH, just make them get closer. It is not easy to be second ranked coin in crypto, it is definitely not a thing that small time brand new things could do. I understand that ADA and SOL and BNB all tried, but unfortunately that second place is a very strong place to be.

I remember namecoin days, I remember litecoin days, I remember xrp days, I can see the ETH days now as well, and that's about it, nobody stayed more than 30 days aside from these coins. So do not hope that something else will take over that easily, it will take some time for them to do something like this. I believe it needs time and maturity to reach there.

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If ETH can’t address the problem, then most probably other network will take over who offers a faster and cheaper network. I see SOL to close enough for this, if the hype of ETH slowly gone I’m sure its competitor have a better chance now. We’ve been raising the problem since then but until now there’s no solutions ETH should aware of this, and assure the public that they are already working on this, unfortunately there’s no news about this.

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Quote from: South Park on January 25, 2022, 01:04:18 PM

Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

High gas fees are without a doubt a problem that the ethereum network has been dealing with for years and the developers have failed to fix the problem in a way that makes their community happy, however I do not think that alone is going to be enough for the competitors of ETH to surpass, it is enough so they get more popular and can become stronger competitors, but many more factors will be needed for ethereum to be surpassed by it rivals.

No one knows because community could really decide directly if they are done with high gas fees on erc20 which it did really last for long now and that alone isnt really appealing and wont really be a guarantee that it would really still make things alright.If people would find out other alternatives then one day we would be shocked that there would really be some switch up when it comes to recognition and this is why Devs should
really hurry up theirselves on finding some solution or else that time will really come if they wouldnt really make out some changes and honestly if we do tend to look up on the current market
then there are lots of considerable possible candidates for certain ranks and if the community decides then for sure there would be changes.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

High gas fees are without a doubt a problem that the ethereum network has been dealing with for years and the developers have failed to fix the problem in a way that makes their community happy, however I do not think that alone is going to be enough for the competitors of ETH to surpass, it is enough so they get more popular and can become stronger competitors, but many more factors will be needed for ethereum to be surpassed by it rivals.

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Could it be there is a party who is benefiting from the high gas fees is the reason why they keep postponing the eth 2.0 to fix this issue! If they came about their users they should put all hands on deck and do what is required to bring the gas price down considerably, even though this has led to the rise of competitive networks, a lot of people still have eth base projects that require the use of gas.

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To be honest, the current gas fee of ETH is quite ridiculous. As we can see many projects moving from the ETH network to other networks like Binance Smart Chain due to gas fees. Burning a high gas fee for token holders is just nonsense. Why community should burn high fees where other smart chains offer lower fees with more latest features? So it's become community demand now to move other smart chains. I have seen lately many Launchpads filled by BSC project where ETH project almost ZERO. So it's pretty clear ETH losing popularity and others are gaining. If the same thing continues for longer projects would leave the ETH chain to deploy the contract.

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I think competitors are already on the move. There are some L1 operating and some of those eth pioneer are already using those alternatives due to eth high gas fee. We cant blame them as the eth network really pain the ass having huge fee for every transactions. These will be limited only to whales cause potential builders and traders will be hurt with such fee.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

Ethereum will slowly vanish if the scalability problem will not be fixed and i will give you a proof about how fast the competitor of ethereum was growing up you can try to take a look at these charts

https://etherscan.io/chart/tx

https://bscscan.com/chart/tx

BSC processed more than 6 millions transaction daily compared with ethereum which was around 1.3 millions daily transactions. that proves that if the domination of ethereum was slowly getting eaten by the blockchain who has been getting more scalable compared with ethereum. Miners are the problem in these cases. Those greedy miners didn't care with users.

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it is a multi-chain vs cross-chain future question

L1 Ethereum is expensive, but you actually have L2 platforms on Ethereum, that are cheaper to use, and provable provide better security than L1 alternatives
nevertheless, it will be a tough race between Ethereum and L1 competition, but developer base is on Ethereum side

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Years ago I have been using Ethereum non-stop but after the congestion and high transaction fees, I stopped using it. I don't want to be a martyr spending too much money just because I support them. All I could do is buy more Ethereum but never use it as means of anything. This kind of problem happened with Bitcoin before but thankfully it was carefully fixed.
I still look forward for the upcoming Ethereum 2.0 but I am not that excited anymore thanks to their consecutive postponements. Is there a future when they come back with a better service? Yes. The name and their roots will back them up.

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IMO, I believe if the Ethereum developers will remain deaf to the appeal of its users and still not fix those expensive transaction fees, they might wake up someday that most of its users are gone and already jump to other cost-efficient networks. as we observe today the crypto industry nowadays has changed a lot because of the strong competition that's why the more they delayed the Ethereum 2.0 implementation the more they will loosen its grip and the dApp market domination.

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Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Developers are rolling organize overhauls, however gas expenses on ETH stay the same. It's exceptionally costly to perform exchanges on the Ethereum blockchain compared to other competing chains. The ETH 2.0 overhaul will lighten the circumstance but engineers keep postponing the same.

No doubt, they wanna make miners even richer.

Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Individuals are getting wiped out and tired of ETH's "slowing down" as expenses proceed to rise like there's no tomorrow. On the off chance that I'm not mixed up, engineers will delay the trouble bomb once more (by December) in arrange to drag out the PoW blockchain. The longer it takes for expenses to decay on ETH, the greater its competitors will grow.

Like me. I have been moving to the L2 and another L1 blockchain like solana, matic and BNB. There's no ETA when the ethereum's problem will be fixed. People are hoping they will be seeing ethereum 2.0 asap but again it's no ETA and people didn't even know what they are hoping. On its official website and it's clearly stated that it may got postponed.

Quote from: Nancy0@ on January 25, 2022, 02:20:11 AM

Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

I do and why not? don't you aware with the so many news that came from various blockchains like BSC, SOL, or even matic? these blockchains created more and more record on its active transactions. So many people are moving away from ethereum to the another blockchain.

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Developers are rolling organize overhauls, however gas expenses on ETH stay the same. It's exceptionally costly to perform exchanges on the Ethereum blockchain compared to other competing chains. The ETH 2.0 overhaul will lighten the circumstance but engineers keep postponing the same. Individuals are getting wiped out and tired of ETH's "slowing down" as expenses proceed to rise like there's no tomorrow. On the off chance that I'm not mixed up, engineers will delay the trouble bomb once more (by December) in arrange to drag out the PoW blockchain. The longer it takes for expenses to decay on ETH, the greater its competitors will grow.
Do you think competitors will vanquish ETH due to ever-increasing gas expenses? In the event that not, why? Are steady delays a result of miners' resistance against lessening gas expenses on the blockchain? Your input will be enormously acknowledged. Thank you.

Topic: Will competitors overcome ETH due to ever-increasing gas fees? (Read 581 times)