Tell me something does Vitalik Buterin incapable of reducing the ETH fees? My Theory: My speculation is that making ETH fees costly is how ETH is climbing ladder. If they make fees low then the value of ETH would be like TRON and they can't compete. So to be competitive against BTC, the developers don't bother handling fees. I don't bet on ETH for long term. Just holding because getting rid of it is expensive. What do you think?
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3 comments
i believe fees are high because ETH uses the BTC approach to transaction management. those willing to pay higher fees get their transactions validated more rapidly. it's a bad system, but i don't think there's a conspiracy in any way.
ETH is flexible in code unlike BTC which is running on it's own....ETH team, they could add the staking and validators type consensus but they are sticking with miner verification type consensus model. Which sounds like something they dont' want to change to manipulate currency.
The Ethereum fees are crippling and it is the main reason people - me included - have funds just rotting in wallets. Ethereum needs to adapt or die, but I fear the latter because of the way it has been built