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[fiery phoenix]

Polygon popularly known as the Matic network is an ethereum based layer 2 scaling solution designed to fix Ethereum scalabilty problems.Ethereum's popularity after cementing itself as one of the best defi smart-contract platform means its gas fees will get out of control and also there is need to make sure transactions are faster and thats when polygon came in.Polygon helps Ethereum handle more transactions by processing them on various new sidechains freeing space on the Ethereum blockchain.Its similar to the structure behind Polkadot and Cosmos.
But to all this good innovation favouring Polygon for a number of years,there might be bad news coming that might leave Polygon useless and Im talking about the Ethereum merge expected to happen in August 2022.Ethereum merge will see Ethereum move from a proof of work to a proof of stake consensus and its said to fix all scalability and high gas fees problems,which means Polygon will no longer be important for Ethereum as they would have become independent.Polygon miggt be stripped off as a layer 2 scaling solution after the merge.

What do you think will happen to Polygon after Ethereum merge?

 

[Horia_10]

Ether is advancing far better than the market and the cost of sending a transaction on the network has improved by more than 30 times so it is good to know that the layer 2 merge is happening which will mean more advancement for ETH and it's platform in the market .

 

[fiery phoenix]

Ether is advancing far better than the market and the cost of sending a transaction on the network has improved by more than 30 times so it is good to know that the layer 2 merge is happening which will mean more advancement for ETH and it's platform in the market .

Thats great news for ETH investors and users,scalability is a big downside for many PoS coins and the Ethereum merge has really come at the right time because so many investors were leaving Ethereum,even billionaire investors.What about the gas fees,are there any improvements?

 

[Horia_10]

Yes there are improvements but the most of the fees is around $3 per the transactions now and normal charges are carried out at $2.92 while the exchanges are using meme pools so the transactions cost is about $1.05 on most of the exchanges at this time with speeds in moderate range .

 

[fiery phoenix]

Yes there are improvements but the most of the fees is around $3 per the transactions now and normal charges are carried out at $2.92 while the exchanges are using meme pools so the transactions cost is about $1.05 on most of the exchanges at this time with speeds in moderate range .

The gas fees fees is still too high for me,not convincing to bring investors back or attract more investors.Lets wait for the full launch of ETH 2.0 in August/September maybe they would have lowered the fees.Does Ethereum support the lightning network,because that could be the last option to solve the high gas fees issue?

 

[Horia_10]

No the ETH won't use that the developer can not want the fee to be reduced further since he is taking a lot of money from the market and there are whales who are investing in ETH despite anything so it does not makes a difference at all due to high fees issue for the protocol currency .

 

[Ben Kempton]

The gas fees fees is still too high for me,not convincing to bring investors back or attract more investors.Lets wait for the full launch of ETH 2.0 in August/September maybe they would have lowered the fees.Does Ethereum support the lightning network,because that could be the last option to solve the high gas fees issue?

The fact remains that Ethereum's transaction gas fees surged a lot and now it fell back to the "normal" levels in the past few months. Having said that, these so-called "normal" levels of the fees are still too high. The data that I extracted from Bitinfocharts suggests that the average gas fees of Ethereum is $2.23 right now. You can have a look at the fee chart below.

 

[SlotsGator]

If ETH really pulls off successful update that can make the chain as cheap as BSC or Polygon, then the L2 is practically useless. People currently use Polygon for NFT and its play to earn ecosystem, if people can do these stuffs in ETH, they will do it in ETH. But, I don't think ETH will magically become cheaper in a day and I don't think it will happen in September as well, because major protocol change will introduce a lot of bugs.

 

[Horia_10]

The fees reduction was a part of the plan when the developer reduced the fees by upgrading the network and adjusting lots of factors and changing the network dynamics that made it more cost effective and investor friendly which is why it is getting more investor attracted to it in comparison to any other coin in the market .

 

[fiery phoenix]

The fact remains that Ethereum's transaction gas fees surged a lot and now it fell back to the "normal" levels in the past few months. Having said that, these so-called "normal" levels of the fees are still too high. The data that I extracted from Bitinfocharts suggests that the average gas fees of Ethereum is $2.23 right now. You can have a look at the fee chart below.

My thoughts as well,fees are still too high,I don't know if it go lower than it is after the full lauch of ETH 2.0 but I don't see it going down.The way I also see it iscthat since the ETH blockchain is the most used for smart contracts it will make very busy which will make it hard for this fas fees to go low

 

[Horia_10]

People I think will stop buying when the market falls below $19k and will start to invest in real life projects the best option is to actually invest in what option is the best according to long term growth like in a business or gold that can provide yields to you as the investors .

 

[fiery phoenix]

People I think will stop buying when the market falls below $19k and will start to invest in real life projects the best option is to actually invest in what option is the best according to long term growth like in a business or gold that can provide yields to you as the investors .

The market has already fallen below 19k multiple times and there are reports that some investors are buying in this uncertain market irregardless.A lot of investors know bitcoin will probably plunge more before it shoots but they don't care and are just buying.Its a matter of how much equity one has

 

[Ben Kempton]

My thoughts as well,fees are still too high,I don't know if it go lower than it is after the full lauch of ETH 2.0 but I don't see it going down.The way I also see it iscthat since the ETH blockchain is the most used for smart contracts it will make very busy which will make it hard for this fas fees to go low

Definitely, the gas fees are still quite high comparatively to the time when it was quite low. The gas fees of Ethereum have remained quite high for a really long time, as we can see in the graph below. The chart shows that the transaction fees has surged within the time frame of three years. This is quite a long time for sure.

 

[Omotunde]

The Ethereum Merge has successfully taking place and it has moved from the proof of work consensus to the proof of stake consensus to facilitate faster transactions on the Ethereum network . It is definitely going to affect the polygon blockchain because the scalability issues has been solved already.

 

[BullyMaguire]

Doesn't matter to me until they make efforts to lower their transaction fees. I do like Ethereum i think it's a really good investment but I can't buy it while i can i worry that when the time comes for me to sell it finally the profit isn't enough to cover the fees i need to consider that.. so i avoid anything related to ether good thing Binance Smart chain is thing now

 

[Omotunde]

Doesn't matter to me until they make efforts to lower their transaction fees. I do like Ethereum i think it's a really good investment but I can't buy it while i can i worry that when the time comes for me to sell it finally the profit isn't enough to cover the fees i need to consider that.. so i avoid anything related to ether good thing Binance Smart chain is thing now

Ether is one of the best crypto coin in the cryptocurrency market because it has proven to be the best blockchain ever in history of cryptocurrency. The scalability of the ethereum network makes it stand out and it is far better than any blockchain technology which will make it the best crypto coin in the future.

 

[BullyMaguire]

Ether is one of the best crypto coin in the cryptocurrency market because it has proven to be the best blockchain ever in history of cryptocurrency. The scalability of the ethereum network makes it stand out and it is far better than any blockchain technology which will make it the best crypto coin in the future.

Well i agree one of the best if not the best they have a lot to offer have lots of usage. It's great the only problem i have with them is that the fees are expensive that's it.. other than that i would love to invest in it as well because i think in the back of my mind it can be something better than bitcoin if it managed to lower their fees

 

[Omotunde]

Well i agree one of the best if not the best they have a lot to offer have lots of usage. It's great the only problem i have with them is that the fees are expensive that's it.. other than that i would love to invest in it as well because i think in the back of my mind it can be something better than bitcoin if it managed to lower their fees

The humongous charge fees that is associated with Ethereum based transaction has made it so difficult for so many crypto investors to use the Ethereum. The transition from the proof-of-work to the proof-of-stake consensus on the Ethereum blockchain should address the huge gas fee associated with the Ethereum transaction.