High transaction fees will never be fixed on ethereum.

[Anonymous No.28731603]

Yes, you read that right. The high fees on eth will likely never be going away. Rollops may mitigate them to a certain extent, but for the most part you'll always be paying high prices for higher gas transactions. Demand will always outpace blocksize. But this isnt necessarily a problem, let me explain why.

With Optimistic rollups mere weeks away from going public on public testnet on synthetix, many people are looking forward to the promised “100x less fees.” The problem is, when something becomes 100x easier to use, 100x times the people will want to use said protocol. Smooth brains will soon be claiming that eth can never be fixed, and will end up running itself into the ground with transaction fees. What no one is paying attention to is the promised TPS that rollups provide. Currently eth is only capable of only 40 or so TPS (transactions per second,) which is just downright horrible if you’re talking about replacing the existing financial system. Rollups however increase TPS by a factor of over 100. So while TPS is limited to under 50 right now, in a few months most dapps will be able to do 1000-2000TPS on layer 2 rollups. So while the lowest gas fee may cost you $10/$20 and may take hours/days to complete, on rollups it may take only 30-60 minutes to transact. This is a MASSIVE step above current transaction times.
Furthermore, when rollups inevitably utilize Data Availability sampling, coupled with data/network sharding, we may very well see rollups be capable of over 100k TPS on eth. So perhaps for a $10 transaction, instead of taking 30-60 min with current rollup technology, it will take less than 5 minutes.

In conclusion, fees are not a problem for the future of eth. Maximizing TPS while retaining decentralization is what will ultimately drive this network to mass adoption. And soon with apps utilizing rollups such as USDC, you won't even have to pay in eth, it will just be paid using USDC.

Pretty crazy, right?

[Anonymous No.28731679]

Bullish for ALGO

[Anonymous No.28731774]

Gas fees will be <1c in less than 6 months.

[Anonymous No.28731782]

>>28731679
you didnt read the post, did you?

[Anonymous No.28731909]

Optimism have 1 week finality (!).

[Anonymous No.28731980]

>>28731782
oh I did.

[Anonymous No.28732258]

>>28731909
there can be ce centralized solutions to custody eth as the transactions are being processed with withdraw. Optimistic rollups aren't going to be the main rollups of choice though, zk rollups will be favored i nthe future. Problem is, zk rollups can talk to existing smart contracts. But in a year or two, they will. zk rollups have instant finality

[Anonymous No.28732323]

>>28732258

zk rollups cant talk to existing smart contracts**

[Anonymous No.28732657]

>>28731603
ALGO

[Anonymous No.28733268]

>>28732258
In a year or 2 Avalanche and Dfinity will already make ETH a store of value.

People eager a change, See the traction avalanche got on their dex debut. Ethereum need a sound solution now.

[Anonymous No.28733488]

>>28733268
rollups are a sound solution. Avalanche is highly centralized, as seen the other day when its network went down.

[Anonymous No.28733672]

>>28733488
i dont think its possible to have a network thats both decentralized and has low fees, but what do i know.

[Anonymous No.28733941]

>>28733672
i just said its not possible. But fees dont matter. if you read my post, i explain why

[Anonymous No.28733974]

>>28733488
lol wtf are you talking about? Avalanche handled it in the most decentralized way possible. Don't spit nonsense please, Avalanche is actually more decentralized than Ethereum by design.

I agree that on rollups but like i said Ethereum doesn't have the time to wait for it, they need a solution now or it'll become a store of value by the time rollups are available.

[Anonymous No.28734124]

>>28731603
>Maximizing TPS while retaining decentralization is what will ultimately drive this network to mass adoption.
ETH is already centralized as fuck due to bloat. So much of it runs on Infura. AWS could shut it down like it did with Parler if the wanted to. BTC devs were right, you need really light node software so that you have the option of running it on your own hardware. Otherwise there's no point to crypto. Not your hardware, not your network. Low IQ shitcoiners are starting are finally starting to realize this with ETH but now you can't blame it's high fees on Blockstream because they have nothing to do with ETH.

[Anonymous No.28734157]

>>28731603
>$10-20 per transaction
>not a problem
Son I can go trade on BSC right now and pay less than $0.10 per transaction. The only response ETH shills have to competitors is "b-but it's not decentralized!". But nobody cares about that shit. The vast, vast majority of people trying to gamble on shitcoins couldn't give a single fuck about what's happening behind the scenes as long as they can trade quickly and cheaply.

ETH killers are popping up right and left and if your best response is "$20 transactions instead of $200 transactions!" then you're fucked, period. 80% of my portfolio is tokens that will replace ETH, and all of my shitcoin gambling is now taking place on BSC. Flipped all my ETH for DOT/ADA/FTM weeks ago. It's over for you.

[Anonymous No.28734474]

>>28734157
slight counter point. If no one cares about decentralization, wouldnt we see eth fees drop as the network becomes less congested? think critically.

[Anonymous No.28734847]

>>28734124
>so much of it runs on infura

no it doesnt. devs that cant afford to store the entire etherum blockchain utilize infura so they can continue building their dapps. Non of the large scale dapps rely heavily on infura.

>AWS could shut down defi

no it cant. its a decentralized smart contract, nobody can pull the plug on AAVE, SNX, Uniswap, etc. Most of the transaction volume is on chain and doesnt require any front ends. Seems like you listened to the smooth brain pompliano a little too much.

Also, the Marjory of bitcoin nodes are ran on AWS. so what the fuck are you talking about?

[Anonymous No.28734909]

>>28734474
Fees will drop as volume drops, sure, but that doesn't mean people will come running back as soon as fees are lower. Once people move to a competing chain and find that it works exactly the same - trading on pancakeswap is functionally identical to uniswap, except the transaction fees are 1,000x lower - then they're gone for good. Bringing users back to a platform they've abandoned is much, much harder than attracting them to a new one or simply retaining them.

People returning to ETH chains after abandoning them would require a big, new value proposition and "ETH fees are now only 100x those of the chain you guys moved to instead of 1,000x!" is not gonna do it.

[Anonymous No.28734942]

>>28733974
> AVAX is more decentralized than ethereum

ngmi

[Anonymous No.28735050]

>>28734909
for years the fees have been higher on etherum by factors of 100x. Its been this way since 2017, yet demand has always exceeded blocksize. Its the same thing with bitcoin. If the market didnt care about decentralization, it wouldve switched to centralized solutions years ago.

[Anonymous No.28735615]

>>28734942
That statement isn't wrong

[Anonymous No.28736670]

>>28731603
ETH is clearly on borrowed time. They have ETH 2.0 which is essentially a hack to keep them alive while the first mover's advantage diminishes and other Dapp blockchains eat into their pie, including:
Cardano
Binance Smart Chain
Polkadot
Cosmos
Tezos
Avalanche
Elrond
Algorand
Solana

Very difficult to see ETH remaining in the top 10 even 5 years from now.

[Anonymous No.28736897]

>>28735050
You're throwing pearls to pigs OP

the only gripe I have as that OR transactions settle in milliseconds. Look at what happened between coinbase. synthetix, and paradimg last night. THere is absolutely going to be an optimistic sUSD offramp /onramp from coinbase.