People and projects start to rebel against ETH quasi-dominance, and the numbers and users and scalability importance is decreasing, as the fees reach new highs. It will not be long until many will start to look for alternatives, and there are quite a few of them, faster, cheaper, maybe even safer than ETH. The Ethereum killers, even if they were not a threat two years ago, start to improve and learn from the Number 2 biggest failures. If this so-heavily marketed ETH 2.0 will not solve the problems, there are other options, less or well known.
Check here for some full article. It is eye opening.
According to Etherscan, the ETH network used 74.033 billion Gas on 18.07.2020, an all-time high when measured in Gas, and came pretty close to it with 74.015 billion Gas ($1.4 million) again on 23.07.2020. Something needs to be done.
Ideas like adaptative state sharding (Elrond) or the Shelley hard-fork (Cardano) are gaining traction. Even the CEO of NEO, woke up from his long slumber to tempt us with NEO 3.0 and pointing at the sky-high fees eating up the Gas of the ETH Network.
Vitalin Buterin said that layer two technology will be needed to solve the problem in the meantime, such as the technology called zero-knowledge rollups (technology already succesfully implemented by Loopring). And this will only be a patch up, until more serious solutions are adopted (i am reffering at Plasma).
Another thing, as i was asked about: why we are still paying, if the transaction fail? The network use Gas to execute a transaction, or as you know it, Ether. When you execute a transaction, or an action on the network, you need to pay the computation cost. And the payment is paid, in ETH, disregarding the fact that your transaction is succesfull or failing. Either case, the miners are still using theircomputational power, in order to validate or invalidate the transaction. If you are checking on Etherscan.io, the transaction cost is there, both in USD and ETH. It is not the wallet or the exchange making you pay, but the miner executing your transaction, for mining cost.
For more info read:
https://medium.com/gains-associates/investigating-recent-spikes-in-eth-gas-fees-bf227f3f4e2a
https://en.ethereumworldnews.com/ethereum-based-stablecoins-possibly-to-blame-for-high-eth-gas-fees/
It is good to stay informed, and complain about the fees level still!
G.
My crypto-related links (check ratings - 1 to 5 stars based on my personal experience)
Games to gain crypto
***** League of Kingdoms - link here: similar with Heroes of Might and Magic or RoK (worldwide - paying in DAI)
***** DogeWars - link here (paying in Doge, 10-100 Doge initial investment, fight bosses and 1vs1 arena)
Exchanges
***** Binance( good for staking/savings ) - link here
***** Kucoin( good for staking/savings ) - link here
***** Coinbase( ideal for beginners )- link here
****ChangeNOW (make your own exchange widget) - link here
Investments
**** BlockFi (decent interest rates, but less choices than Celsius) - link here
***** Celsius.network (good rates of interests and monthly codes for free crypto, 1235256530 => my referral for $10 bonus ) - link here
**** Coinbundle (investing in crypto bundles) - link here
**** Stakecube (staking, masternodes and very easy to claim faucets for 28 coins/tokens) - link here
**** Credit (staking, African currency - 200% staking rewards) - link here
Wallets for multiple cryptocurrencies
***** Coinpot - link here (microwallet for all Moon faucets, Bitfun and Bonusbitcoin)
***** Atomic wallet - link here (microwallet for Publish0x DAI, BAT and Loopring)
***** Sphere wallet (for Horizen, combined with the faucet for extra bonus) - link here
**** Crypto.com wallet (good interest staking and 50$ bonus in MCO) - link here
Free crypto (faucets and more)
****Lbry.tv (free crypto for watching or making videos) - link here
****Bitfun( 3 min countdown - automatically deposit to Coinpot wallet ) - link here
****Bonusbitcoin( 15 min countdown - automatically deposit to Coinpot wallet ) - link here
****Moon Bitcoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here
***Moon Bitcoin Cash ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here
****Moon Litecoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here
****Moon Dogecoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here
***Moon Dash ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here
***** Horizen faucet ( 20 hours countdown - automatically deposit to Sphere wallet - bonus ) - link here
***** Zcash daily faucet (20 hours cooldown - automatically deposit to Binance- bonus) - link here
*** Tezos faucet ( 7 days countdown - automatically deposit to Coinbase or Binance wallet ) - link here
** Tron and other crypto faucet (24 hours countdown) - link here
Others
***** Publish0x blog (Free BAT, DAI and Loopring for reading/writing - can combine with Atomic wallet) - link here
***** Brave browser (Free BAT for using it, based on paid ads, very good AdBlocker and high speed) - link here
***** Presearch search engine (Free PRE for using it, works well in combination with Brave browser) - link here
Disclaimer: This text also can be re-published on my personal blogs, such as this one.
