Will we see the destruction of ETH anytime soon?

masterrex

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

I don't think so, Ethereum transaction fees are much cheaper today compared to the previous months, and speaking of Defi Ethereum had already survived before Defi was invented so thats not going to happen, the word destruction is too much because besides all those so-called criticism Ethereum development has not stopped, however, those criticism are still valid but it's not enough to destroy the smart-contract service pioneer.

makishart

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The dump that happened with ethereum was just usual thing in the crypto. I will try to remind you that if you are watching the market closely and whole of smartcontract coins dumping so hard. Just beacuse there are more and more scalable blockchains and this didn't mean if it can distrupt ethereum easily. I think that you are underestimating ethereum at this moment and you shall take a look at the fact. These days ethereum is remain stronger than other

virasisog

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Quote from: iv4n on June 12, 2022, 09:06:17 AM

Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

High fees are a problem for a long time, and that didn't stop Ethereum to make a new price record! I guess we can find a lot of criticism coming from many sides, even though I stopped using Ethereum and all Ethereum DApps because I find some other chains a lot better, I don't think we will see Ethereum rapidly declining!
New technologies will be a challenge for many/all old projects, will they adapt or they will fade away we will see, it's something that nobody can predict!

I still believe that they could solve the blockchain issue and would fix high gas fees. Criticisms will always be everywhere but I'm sure that Etherum will still stand firm. High gas fees have been their issue for such a long time but Ethereum, instead of crashing even reached more milestones and achievements.

iv4n

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

High fees are a problem for a long time, and that didn't stop Ethereum to make a new price record! I guess we can find a lot of criticism coming from many sides, even though I stopped using Ethereum and all Ethereum DApps because I find some other chains a lot better, I don't think we will see Ethereum rapidly declining!
New technologies will be a challenge for many/all old projects, will they adapt or they will fade away we will see, it's something that nobody can predict!

sayaya17

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Quote from: Wildwest on June 11, 2022, 08:39:48 PM

Although there are some problems that are being faced by ethereum, this project will still be alive and always in the interest of many investors, and coins that have stood firmly like ethereum are very difficult to experience a crash even though the price decline is happening but that is all the things we often see in the crypto world, although for now gas fees are quite expensive but the use of the network remains high, then don't think the ethereum crash could just happen.

Ethereum is an old project, so Ethereum must have understood how to survive in the crypto world. Even the development team owned
by Ethereum is among the best, because until now there is not a single altcoins that can shift Ethereum from the second position on coinmarketcap.
This means that until now Ethereum is still the best altcoins, therefore I don't believe Ethereum will experience collapse in the near future.
As you said even though Ethereum has its drawbacks, Ethereum has an experienced development team, who always work hard to make updates
and improvements, so that one by one the shortcomings of Ethereum can be fixed. Even Bitcoin, which is the best cryptocurrency, still has flaws
that need to be fixed, not all projects are perfect. Likewise Ethereum which still has many shortcomings. But Ethereum is still a potential project
and has a bright future.

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Quote from: ice18 on June 06, 2022, 11:15:38 PM

Too early to speculate on the destruction of eth, wait for POS transition and lets see what will happen since gas fees will reduced significantly, many devs still wants to use eth chain but the current gas fees is the reason why they use alternative chains.

It is possible that not even all L2 solutions will be able to compete with the Ethereum blockchain when it completely switches to POS, as they will lose today's superiority in the speed and price of transactions. And even now, despite the problems with scalability, the blockchain has not lost its community and continues to work successfully.

Ahli38

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Because of the bearish market conditions that turned out to be continuing. So all Alt coins, as usual, will also go down. So this actually has nothing to do with the POW to PoS switch that ETH will do. in fact, the transition will actually create a new Hype for ETH.
But at least if the price of ETH drops to $420 during this bear market, then someone will buy in large quantities like justin sun. This is both good and bad news. Because from Justin Sun's post on Twitter, he said he was ready to buy ETH when it reached $420.

Wildwest

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Although there are some problems that are being faced by ethereum, this project will still be alive and always in the interest of many investors, and coins that have stood firmly like ethereum are very difficult to experience a crash even though the price decline is happening but that is all the things we often see in the crypto world, although for now gas fees are quite expensive but the use of the network remains high, then don't think the ethereum crash could just happen.

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Quote from: Desmong on June 11, 2022, 06:48:50 PM

Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Even though the gas fee of Ethereum increases with time, I do not see any reason why the DeFi project would be abandoned because more features are coming out everyday. Ethereum is a great project just like Bitcoin thay is currently having effect on the cryptocurrency market and the entire altcoin market. Ethereum will continue growing everyday and I know that later everything will be resolved.

the difference of eth dev team from other most dev teams out there is that they have good amount of resources to further develop their network. and they won't run away or disappear as knowing that it is headed by vitalik, do you really think that he will get away from this industry just because of money? i don't think so. maybe, i have high regards on vitalik's team, but even if they are delayed with their targets, i believe they are not just sitting and relaxing but doing their best to cater better services to the crypto community.
so even if defi is decreasing its popularity, eth network is not just because of defi's presence but all the other things attached to it.

Desmong

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Even though the gas fee of Ethereum increases with time, I do not see any reason why the DeFi project would be abandoned because more features are coming out everyday. Ethereum is a great project just like Bitcoin thay is currently having effect on the cryptocurrency market and the entire altcoin market. Ethereum will continue growing everyday and I know that later everything will be resolved.

Ziskinberg

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Actually, I haven't seen any support for your claims. A negative person will, of course, think bad on the market but ETH has the capability and trust of the majority. You can't ride this from us as we know this project has a huge role in the market more than the other projects.

I'm not and I don't think this "Destruction" word means for ETH. If you are here OP during the 2018 market crash, you will be certainly thinking this might be the end of crypto where ETH price seems going close to $100 and Bitcoin had also dropped badly.

Iyeman

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the high gas fee was mainly caused by the fact that ETH is really popular, I couldnt see it destroyed because the gas fee is high because it's quite the opposite.
Also, the other self proclaimed eth killer was currently having quite the gap in terms of market capitalization you could say that they are hundred billions off from becoming a real eth killer in terms of market capitalization, so the conclusion is
ETH gonna be here for a long time, since the ETH domination is still huge.

Jating

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Not sure where the OP get those negativity against ETH, but it has some truth on it. Specially the high gas fees which has been the hot topic and ETH devs try to resolved in in the last 3 years and nothing happen.

Fortunately for them, ETH like BTC is one of the prime movers in crypto space, so despite those issues, investors are still going to put their money on it. NFT's is the latest hype and it will be big even in a bear market. So I'm not seeing ETH getting destroyed or even losing it's value.

nimogsm

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For so many years, no one has yet managed to displace him from the first place, although there have been many attempts.Remember how many conversations there were that a new project with a new blockchain would kill everyone?but as we can see, nothing has changed yet.

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Quote from: Oshosondy on June 07, 2022, 04:46:15 AM

Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Bitcoin has the highest fee, yet remain the most valuable cryptocurrency, ethereum remain the second ranked cryptocurrency after bitcoin and has the second highest fee. Reduced popularity in DeFi How? Ethereum blockchain has most numerous DeFi tokens. With everything you have said, there are ethereum killers for years now, but ethereum remain valuable and the strongest of them all.

The fact that they have the highest transaction fee is because they are at the top, not the other way around. Meaning, people use these two so much that they are willing to pay premium to keep using these two, they are so much so willing that they are spent 30+ dollars on each transaction at one point in time, instead of using stuff that had zero, so they lost 30+ bucks on each transaction at least, and they still didn't switched to other stuff, some people did but many didn't. That is the reason why we should not be really shocked that these two are at the top of the chain. Because, they are loved and people are willing to use them a lot.

bhooscream

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the reasons may be very plausible. but it doesn't always seem to be what it seems. Ethereum is very powerful.
many projects have grown big and top projects under Ethereum networks. but on the other hand it is true that it will decrease if this continues. but not sure if it will break

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

This has become an issue for many years after the last Bullrun 2016-2017 and yet, ETH is still alive and kicking, in fact, it is still a highly recommended altcoin for investment.

You can't assume that thing OP as people had never lost their hand from investing ETH despite of its high gas fee. Even to see there are more new projects that are coming they are way far in terms of market appreciation and profitability. And aside from that, ETH has a big role in the market making this more important than these new projects.

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What destruction do you mean? ETH popularity or its price?
If you mean the current drop in ETH price, it isn't surprising since we are at a bearish season.
By the way, those negative issues on ETH (expensive gas fees or distrust on ETH 2.0) have been spreading for a long time. I even heard about this issue in the last year, but it didn't impact really significantly on ETH popularity. In reality, ETH is still the king of altcoins and the second place in CMC. No changes even if there is some negative news about it.

bitkanu

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I mean we are currently in bearish so that kind of downtrend in fame and value is kind of normal thing, it will soon be going up again once the bullish has finally come.
considering the fact that ETH has been the ones that initiated any smart contract platform and even most of the 2nd layer platform uses ETH's technology I think it's not gonna be destroyed.
ETH will be here even if their fee has become tremendously high, and the fact that their fee is high is because ETH becoming as famous as ever.

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

If I were you, I would study the market situation more precisely.The prices of many coins have fallen, but the demand for DeFi projects is large in the Ethereum ecosystem.
https://l2beat.com/
There are also a lot of the best developers in the world in this ecosystem.L2 solutions have very low gas fees.

Cornia

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ETH's gas fee was much higher a few days ago. When ETH was not destroyed then how will it happen now? ETH's gas fee is now quite tolerable. ETH is an old and very popular network. I think over time it will regain its slightly tarnished reputation.

JoyMarsha

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Despite the high gas fee rate of Ethereum, it stands out as the best and leads the way as the best blockchain. Ethereum teams should find every means to validate the Ethereum v2 as soon as possible to stabilise her transaction fees.
Yearning to see that happen before the end of this year

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Quote from: Dr.Osh on June 07, 2022, 12:46:42 AM

well, even though we think like that, the fact is that currently ethereum is still the best coin after bitcoin in CMC, or CG. there may be very many shortcomings that ethereum has, but until now the need and demand for ethereum is still very large. this makes me think that it won't destroy it. Ethereum fees have been very high for a long time, but until now it still persists.
besides, many people thought that even under these conditions, ethereum was able to hold its place. if everything returns to normal, the price of ethereum will be higher than it is now, and even more popular.

Not only ethereum has flaws but it must be said that currently no blockchain is absolutely perfect. ETH is experiencing gas fee problems and this is not new, but most developers of large projects still choose ETH as their top choice over other ETH competitors.
ETH took 5 years to prepare for the POS upgrade, they go slowly and surely so I think the probability of failure is very low. even if they fail this upgrade, I believe ETH is good enough that no altcoin can compete.

Iyeman

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the thing with smart contract blockchain, it could be having its technology outdated but you couldn't deny that the platform could just have another trend that could make them relevant again in the future, its just matter of time until we have found another innovation for smart contract based blockchain.
although there is always chance that ETH could be destroyed overtime but that's just the unique characteristic of smart contract blockchain for investment nowadays.

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as long as the eth network is still used by the community and is still maintained, I think it's too soon to conclude that eth will be destroyed because sometimes eth still surprises the shipping costs are not always expensive

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

I wonder why @OP seems to doubt ETH's ability to bounce back and gain more support because I see ETH's position is still strong and can hold on to where it is now. But if it's about the price dropping, I think it's not just ETH that's experiencing it but also other coins. And it's only a matter of time for ETH to rally again in the next altcoin season. But for the technology, I think ETH can still compete with other technologies and there is still a possibility to increase further in the future.

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Reality is that nothing will happen to the ethereum blockchain, either the chain charges high fees, or extra high fees, or ridiculous fees; it remains the best and strongest network chain in the entire crypto currency ecosystem. The closest to the Ethereum blockchain is the BSC network. Ethereum commands massive adoption, such that even with thise high charges, continue to thrive.

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We've seen numerous problems with Ethereum this past few years already especially the very high transaction fees but still, it remains at the 2nd spot in terms of market cap and it seems that nobody comes near to it and the top 3 right now which USDT has 3x lower market cap than Ethereum.

This just shows that there are still many people who are supporting Ethereum even though it has experienced huge problems in the past. I don't see it being destroyed soon just because of these problems. Right now, the search for "Ethereum Killer" is still on and no other projects can do it. Ethereum will stay at the top 2 spot for sure and the developers will just continue to solve their problems.

I did a quick browse in the gas fees of Ethereum on etherscan and it's only a dollar right now and it's much less lower than where it was. There was a time when the gas fees of Ethereum went up as high as 20$.

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Quote from: Argoo on June 07, 2022, 09:38:50 AM

Quote from: mumang siat on June 07, 2022, 02:18:22 AM

Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

It is difficult for that reason Ethereum is experiencing a decline going forward, the only cases involving mining critics who are dissatisfied with the results, participant restrictions have to be done for some reason, and new technologies and smart chains are things that must be faced in the challenges ahead, this is just a problem small ones that never made Ethereum lose the trust of people, because this coin has reached a very good level of utility under bitcoin, so it's hard for people to ignore them

I see no reason to be particularly concerned about the future of the ethereum network. Of course, the miners of this coin will now be unhappy that they are losing their earnings. There is a lot of controversy right now about the benefits of PoW and PoS, but apart from purely technical issues, there is also a lot of far-fetched or petty, which will rise to the rank of a serious problem, because some do not like the possible strengthening of the role of ethereum after the upgrade. There is already a little bit left and soon we will be able to see the results of the work of a large team of this coin.

The results of this team's work have been seen from the beginning of their emergence until now, the question of the extent of the effects of negative news that continues to hit them, in small numbers indeed transactions on ethereun experience an imbalance, until various problems arise involving mining or small investors, both PoW and PoS has its advantages and disadvantages, but I think ethereum is difficult to replace going forward

libert19

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Which public chain are you referring to? Which other chain has activity as much as ethereum? Bearish sentiment hit all equally, ethereum is no exception. In bull market, everyone becomes blind due to green numbers, in bear we look for faults because red everywhere.

SistaFista

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Well, there were many pros and contras when Ethereum team planned to migrate from PoW to PoS indeed.
If i was a ETH miner, i would against those plan because my ASIC miner devices won't be able to mine ETH anymore.
But on the other hand, i think high gas fee issue in Ethereum will be solved if ETH change to PoS.

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I don't get it why are you feeling good with it. Ethereum has become the first smartcontract platform that exist in the crypto. people very familiar with it even with a few users and ethereum can still exist in the market. All factors that you have mentioned above were actually correct but have you seen ethereum dead? With so many new smartcontract platforms available in the market and ethereum can still remain at the top 2 of CMC. This proves that the capability of ethereum to compete even with the new platforms that have more improvements that have been learned from the problems that appeared in ethereum.

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Quote from: mumang siat on June 07, 2022, 02:18:22 AM

Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

It is difficult for that reason Ethereum is experiencing a decline going forward, the only cases involving mining critics who are dissatisfied with the results, participant restrictions have to be done for some reason, and new technologies and smart chains are things that must be faced in the challenges ahead, this is just a problem small ones that never made Ethereum lose the trust of people, because this coin has reached a very good level of utility under bitcoin, so it's hard for people to ignore them

I see no reason to be particularly concerned about the future of the ethereum network. Of course, the miners of this coin will now be unhappy that they are losing their earnings. There is a lot of controversy right now about the benefits of PoW and PoS, but apart from purely technical issues, there is also a lot of far-fetched or petty, which will rise to the rank of a serious problem, because some do not like the possible strengthening of the role of ethereum after the upgrade. There is already a little bit left and soon we will be able to see the results of the work of a large team of this coin.

lobo13hf

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You must not think that just because the scalable platforms are exist and it means if the death for ethereum will come soon. I do believe if ethereum will still remain forever. There will be no platform that can surpass this. I know that people are feeling skepticism about that.
The scalability already become the main problem since a few years ago and developers aware about that. keep calm and just wait until the update will come.
You will be seeing the new ethereum once all of updates will be fully implemented in the blockchain.

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

I don't exactly get why you said the destruction of ETH. Perhaps, it could be possible if you believe to that things. But for me only time can tell about this matter actually. And what if there are some ETH holders keep this coin for the long term? do you think destruction will come over it? isn't the answer is not of course. Meaning, destruction could only be happen when all ETH holders will give this token, am I right?

Mame89

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your question is less likely to trigger an ethereum problem. what bear season makes you think ethereum is going to die, I don't. it's an altcoin cycle where all there is a bear and bull season that comes every year that not many people don't know will happen, bear season many people are depressed because assets are minus a lot. make a lot of people think negatively about the world of walking bears

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The population behind ETH makes developers describe the constraints and future. The density of altcoin transactions is unmatched (other than bitcoin). If Eth has the innovation to pump up some altcoins, it will follow and fly.
if it's broken, I think the chances are slim as long as people are trading (Eth/erc20 network). various def, dex or other exchange websites. as well as non custodial. it is impossible for the whole world to empty their ETH wallets at the same time for several weeks .or more.
if at this time all the obstacles that you complain about are your weighing points to ask for ETH, then all risks can happen. keep using your cold money.

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

We don't know about it yet because the new technology needs to be tested by the interest of investors. The market situation itself is still not good and still waiting for bitcoin to increase, so it looks like ETH can still survive, and there is a possibility that ETH 2.0 can become a new trend in the future. But everything is still unknown and still needs to wait, and in the meantime, we are also still seeing how the market conditions in the future.

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

No, Bitcoin receive that kind of criticism too when Ethereum was introduced and hype but still no one can beat Bitcoin despite all the FUD circulating on it. This same scenarion on Ethereum which a lot of competitors' blockchain is lurking to steal its top spot but Ethereum is still a solid project due to its real decentralized nature so even with the cons that you mention, Many investors still trust this coin due to its well-known brand. The only that will bring down Ethereum is a serious security breach that will cause a loss of funds like what happened to their DAO before but this scenario has a very low chance to occur.

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Ethereum will not decline rapidly if Bitcoin can increase slowly, because the bigger impact of the decline on Ethereum for now is in the Bitcoin dump, so if Bitcoin can hold up very well and can increase slowly over time, then Ethereum will too. getting better and slowly improving in the market, regardless of what you say even though that has some truth in it, but I think the effect of that kind of thing is still very little for Ethereum at the moment.

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We will see the destruction of ethereum. Grin

it's better if you are searching some articles that were telling you about the history of EOS, ANTshares and Tezos. I remember when so many shillers are yelling those projects will be replacing ethereum or become ethereum killer.
Based on the stat of ethereum network and i can't deny that if some things were going down like total value locked, users and many more. The main point that you shall remember if anyone was not fully moving from using ethereum.
They are only looking for alternative ecosystem

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

I don't think so. I don't own any significant amount of ETH myself, which is a sad thing for me btw, but i still think as an objective observer that Ethereum is still the king of all altcoins and it's introduction was probably at least as important for the whole crypto space as the launch of Bitcoin before. Ethereum was the project that introduced the smart contract functionality and this piece of tech is what makes all the stuff that we are having today like Dexes, NFT's, yield farming, staking and so on even possible.
I also think though that the switch to ETH 2.0 really needs to work and that the fees also need to significantly go down then because i also use BSC mostly nowadays because the fees of ETH are just too high for a small fish like me.

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Bitcoin has the highest fee, yet remain the most valuable cryptocurrency, ethereum remain the second ranked cryptocurrency after bitcoin and has the second highest fee. Reduced popularity in DeFi How? Ethereum blockchain has most numerous DeFi tokens. With everything you have said, there are ethereum killers for years now, but ethereum remain valuable and the strongest of them all.

gurunanakji777

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Investors still have high trust in the Ethereum If Ethereum keeps dropping I believe it will be bought back again because it has huge potential and Ethereum proves every time that it's a long-term coin. We all know many new blockchains come and gone but Ethereum is still there so the trust factor is still with Ethereum. A high gas fee is a concern many devs are avoiding the Ethereum chain due to the high gas fees but still a good no of dev wants to stick with the Ethereum chain.

MrDave

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it is always like that only, the more you grow more the challenges you face. But a big technology like eth can overcome the challenges for sure at least at a certain level.

asriloni

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TVL already declined a lot but it seems like the migration is almost coming to its end. These days people are able to using the multiple blockchain and just because ethereum was not scalable enough compared with its competitor and it doesn't mean whole demand already migrated into the new platform. You shall see how ethereum is still stable right now despite so many competitors that were always coming anytime and ethereum is still remain the same.
I can imagine when ethereum will become very scalable and i do believe the demand will be coming back agian.

mumang siat

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

It is difficult for that reason Ethereum is experiencing a decline going forward, the only cases involving mining critics who are dissatisfied with the results, participant restrictions have to be done for some reason, and new technologies and smart chains are things that must be faced in the challenges ahead, this is just a problem small ones that never made Ethereum lose the trust of people, because this coin has reached a very good level of utility under bitcoin, so it's hard for people to ignore them

sunsilk

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

In terms of price, likely.

But in terms of its own chain and what it has contributed to the whole crypto ecosystem, I don't think those things are enough to destroy it utterly. It took a lot of years until it has been built very well and until now, it's still 2nd on the rankings for the entire market.

Wait until the new news comes out for its 2.0 and people will be optimistic again, specifically those that have been looking at it as something that it doesn't worth it anymore.

worle1bm

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

You see lot of transactions on ETH blockchain despite the high gas so it's not going to end up soon and there are lot many underlying things onchain which will keep it running.There are many people who still holds this coin and will be supporting it after btc but it can't take btc place ever.But Vitalik is not so dumb minded as you see he comes up with something technically new to make some changes but they didn't work as expected like the latest Berlin hard fork also didn't have effect on gas so there are problems but will not end up ETH so easily.

Nrcewker

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

ETH as a blockchain might be declined.
But not as a currency.
ETH has more marketcap after Bitcoins.
How can such a coin be destructed ?
It’s the love for ETH , that many people are fond of it and still uses ETH.
Regarding the new technologies, many prefer using ETH, in many ways. So I highly doubt that this might happen.
I myself is also holding a couple of ETH along with Bitcoins.

Dr.Osh

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well, even though we think like that, the fact is that currently ethereum is still the best coin after bitcoin in CMC, or CG. there may be very many shortcomings that ethereum has, but until now the need and demand for ethereum is still very large. this makes me think that it won't destroy it. Ethereum fees have been very high for a long time, but until now it still persists.
besides, many people thought that even under these conditions, ethereum was able to hold its place. if everything returns to normal, the price of ethereum will be higher than it is now, and even more popular.

cabron

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The price of ETH will first skyrocket though so its a bit good for all investors, this I think is the best time to just hold ETH. Those institutions who wants to become a validator of the network will gulp every ETH in the market making the price moon. These validators will be the one who will control ETH for the rest of its lives. You best sell the first at the ATH when it happens.

But how low will the gas free after ETH shift to POS?

shinratensei_

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

that's why the new update already proposed to come soon. I expect something big will give a big change to the ethereum started from its migration to the POS and many more. It's too early to say that if we will see the destruction of ethereum soon. The fact that if the network can get the new update and that depends on the miners, i think that it's better waiting for the next update that will come late of this year.
After you have seen the update and you can judge what will be happening with ethereum

ice18

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Too early to speculate on the destruction of eth, wait for POS transition and lets see what will happen since gas fees will reduced significantly, many devs still wants to use eth chain but the current gas fees is the reason why they use alternative chains.

qzl9899

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Quote from: mindrust on June 06, 2022, 10:45:02 PM

Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

It should happen when you think logically but it is probably not going to because there is so much greed and that greed will keep ETH alive. The number of people who want something for nothing is basically infinite and that means it will create infinite demand for eth till those people lose everything they got.

On the other hand, those "new" blockchains have been trying to dethrone ETH for years and none of them succeeded. That means ETH is doing it right while others don't.

The public chain seems to be the most attractive cake, and there are bound to be many people competing for the crown. As for greed, I think greedy people are also easily infected by fear.

mindrust

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

It should happen when you think logically but it is probably not going to because there is so much greed and that greed will keep ETH alive. The number of people who want something for nothing is basically infinite and that means it will create infinite demand for eth till those people lose everything they got.

On the other hand, those "new" blockchains have been trying to dethrone ETH for years and none of them succeeded. That means ETH is doing it right while others don't.

qzl9899

newbie

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High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Topic: Will we see the destruction of ETH anytime soon? (Read 450 times)