Gas Fees Spell Doom For ETH And Tokens

Gas Fees Spell Doom For ETH And Tokens

By Edwin TechKnow | Edwin TechKnow | 10 Feb 2021


I do not like to bring doom and gloom, but I have to complain about the gas fees that are making it hard to trade ETH and ERC-20 tokens. Now if you are mining then yes, you love it, but for the average Joe who is just getting into crypto, buys that Ledger Nano hard wallet and then decides to send his 15 LINK to it and finds out he "Can't" then every ERC-20 token falls into a place that will be considered "Undesirable".

The high gas fees are actually defeating the utility use of ETH and every ERC-20 token on the system. 

Yes, I see the price of ETH going up. It's #2 behind Bitcoin. If you have a bunch of ETH and some of their tokens already... good for you! As for the gas fees, it is something that needs to be fixed and fixed fast. If not, maybe not today, and maybe not directly tomorrow, but it will spell the death of ETH as we know it. You heard it here first!   

How do you rate this article?


4

0

Edwin TechKnow
Edwin TechKnow

I am a developer of web-related technologies and author.


Edwin TechKnow
Edwin TechKnow

Let's talk about cryptocurrency! With that being said, I am not a financial advisor, and all of my posts are solely my own opinions. Before investing, you should do thorough research and not take my word for it.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.