Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

Join us now to get access to all our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, and so, so much more. It's also quick and totally free, so what are you waiting for?
Blue
Red
Green
Orange
Voilet
Slate
Dark
  Guest viewing is limited

❕NEWS Network change in Ethereum hopes to address high transaction fees

AudraMiller

Sapphire Member
LV
0
 
Joined
Sep 24, 2020
Messages
7,707
Reaction score
170
Points
150
Awards
1
BMF Points
$4,888
Rating - 100%
2   0   1
One of the main things or factors that determines the usability of a cryptocurrency is the cost of the transactions of the crypto. This why there are coins such as trx and xrp that have become so popular recently because they are able to be utilized for smaller transactions. This is a rising concern with larger coins such as ethereum and there is hope for the future on this front. In fact the developers are hoping to change their network to that of the EIP-1559 which aims to address the gas fees of the transactions. This is expected to happen in July this year, which is just months away. Such a development could really help Ethereum and cause its prices to surge.
 
That is really good news to note of,because ether is very much a preffered coin. The other thing to take note of is the fact that you can play around with these coins like xrp that still have low fees for exchanges but a lot of people seem attached to btc and ether despite it not favouring low volume holders of crypto.That is shooting yourself in the head.
 
I really hope such thing happens because i don't like the transaction fee on ethereun i think , its really discouraging a lot of investors i think
 
One of the main things or factors that determines the usability of a cryptocurrency is the cost of the transactions of the crypto. This why there are coins such as trx and xrp that have become so popular recently because they are able to be utilized for smaller transactions. This is a rising concern with larger coins such as ethereum and there is hope for the future on this front. In fact the developers are hoping to change their network to that of the EIP-1559 which aims to address the gas fees of the transactions. This is expected to happen in July this year, which is just months away. Such a development could really help Ethereum and cause its prices to surge.
I doubt if this will ever be possible with ethereum considering that the ethereum 2.0 that was built with the aim of taking care of the gas fee was not able to do so.
 
I doubt if this will ever be possible with ethereum considering that the ethereum 2.0 that was built with the aim of taking care of the gas fee was not able to do so.
If they never resolve it.. it may result in the Ethereum's downfall since it keeps increasing too. Many investors wouldn't like it and there's a lot of other coins to support
 
This is good news then, because the high fees of ethereum has really been discouraging lots of investors, so it's a good they are trying to fix that now, it would mean more users and this ethereum increases in price, win win
 
If they never resolve it.. it may result in the Ethereum's downfall since it keeps increasing too. Many investors wouldn't like it and there's a lot of other coins to support
Ofcourse Many investors have started dropping ethereum investment because they hardly make much profit after trying to withdraw their ethereum in exchanges
 
Ofcourse Many investors have started dropping ethereum investment because they hardly make much profit after trying to withdraw their ethereum in exchanges
I have a friend who have some Ethereum in his wallet but couldn't be bother to use it because nothing will be left anyway.. eth wouldn't go near bitcoin if this continues
 
I have a friend who have some Ethereum in his wallet but couldn't be bother to use it because nothing will be left anyway.. eth wouldn't go near bitcoin if this continues
No coin can even get close to Bitcoin. Bitcoin has gotten to a stage where one may not be wrong to say that bitcoin is enjoying Monopoly in cryptocurrency world.
 
No coin can even get close to Bitcoin. Bitcoin has gotten to a stage where one may not be wrong to say that bitcoin is enjoying Monopoly in cryptocurrency world.
Maybe, but there are coin near at the bitcoin's price level some even surpassed it before.. maybe by popularity it won't be beaten
 
Maybe, but there are coin near at the bitcoin's price level some even surpassed it before.. maybe by popularity it won't be beaten
The success of any cryptocurrency is not just a function of price alone. The market capitalization plays an important role in it. Yfi was once higher than bitcoin ,but yet has lower investors than bitcoin
 
One of the main things or factors that determines the usability of a cryptocurrency is the cost of the transactions of the crypto. This why there are coins such as trx and xrp that have become so popular recently because they are able to be utilized for smaller transactions. This is a rising concern with larger coins such as ethereum and there is hope for the future on this front. In fact the developers are hoping to change their network to that of the EIP-1559 which aims to address the gas fees of the transactions. This is expected to happen in July this year, which is just months away. Such a development could really help Ethereum and cause its prices to surge.
I hope they fulfill their promise this time. This isn't the first time they made plans for the gas fees reduction but it could see that all their efforts were not yielding any positive effects. But maybe this time they might try their best since they now have a close competitor.
 
I hope they fulfill their promise this time. This isn't the first time they made plans for the gas fees reduction but it could see that all their efforts were not yielding any positive effects. But maybe this time they might try their best since they now have a close competitor.
I somehow think that the miners of ethereum are also getting greedy recently .they set high gas in order to make money to argument the cost of mining
 
If introduced it will a long way to reduce the high fee experience during transactions, and increase the prise of ethereum. So let's wait till then and see what will happen.
 
I somehow think that the miners of ethereum are also getting greedy recently .they set high gas in order to make money to argument the cost of mining
For now the ethereum miners are the ones making a lot of money from us through their gas fees. But if they continue like this it will certainly make projects divert to binance smart chain instead.
 
I hope they fulfill their promise this time. This isn't the first time they made plans for the gas fees reduction but it could see that all their efforts were not yielding any positive effects. But maybe this time they might try their best since they now have a close competitor.
I also hope that they fulfill their promise this time around because I think that people are really looking towards coins that have a low transaction fee in order for them to be able to actually use the coin. Right now coins like Bitcoin and Ethereum are just for trading and cannot be used for purchases.
 
For now the ethereum miners are the ones making a lot of money from us through their gas fees. But if they continue like this it will certainly make projects divert to binance smart chain instead.
Already many projects have started diverting into Binance smart chain because of the low fee it offers and this will be a very big challenge to ethereum very soon .
 
That is a really great development for those who transact etherium. The recent rise of gas fee has been really devastating for many of them. If the change of network will reduce gas fee, then that is a great thing for etherium users.
 
That is a really great development for those who transact etherium. The recent rise of gas fee has been really devastating for many of them. If the change of network will reduce gas fee, then that is a great thing for etherium users.
If you have been following ethereum transaction , you will agree with me that this is the third time they are trying to change network without any success
 

📢 Recommended Partners

MGID - Native Performance & Programmatic Advertising Platform MGID Team
0.00 star(s) 0 ratings
Updated
Roobet.com | Crypto’s Fastest Growing Casino 🦘 Roobet.com
0.00 star(s) 0 ratings
Updated
Duckdice.io - Top Crypto Gambling - Bitcoin Dice DuckDice.io
0.00 star(s) 0 ratings
Updated
BMFAds.com - Advertise and Monetize Your CPC, CPM, POP Traffic BMF Staff
4.00 star(s) 4 ratings
Updated

banner

REWARDS: Active Raffles


  • 🤑 Roll 3: Win 100,000 BMF Points!

    The entry period for this raffle ends in..
Back
Top Bottom

Earnings Disclaimer:  All the posts published herein are merely based on individual views, and they do not expressly or by implications represent those of BeerMoneyForum.com or its owner. It is hereby made clear that BeerMoneyForum.com does not endorse, support, adopt or vouch any views, programs and/or business opportunities posted herein. BeerMoneyForum.com also does not give and/or offer any investment advice to any members and/or it's readers. All members and readers are advised to independently consult their own consultants, lawyers and/or families before making any investment and/or business decisions. This forum is merely a place for general discussions. It is hereby agreed by all members and/or readers that BeerMoneyForum.com is in no way responsible and/or liable for any damages and/or losses suffered by anyone of you.