Ethereum now has absurd gas fees

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Avatar for littleboy
3 years ago

What to send some eth to a friend?

That would be 1$ sir. What to interact with a DEFI application? That would be 5$ sir.

I just checked again and it's 70 GWEI for normal transfers now. What the hell is this? An Ether transfer used to take 1 GWEI.

Interacting with DEFI apps is even more absurd. You will have to pay 1-3$ for a single transfer.

This just shows the importance of scalability. Ethereum people often whine about EOS not being decentralized. But even if it isn't, it can support 10 times the transfers.

Not shilling for EOS here as I know EOS has some issues which prevents me from trusting it 100%. EOS is not decentralized, it's at best semi-decentralized.

But Ethereum's scalability is as big of an issue as EOS's lack of decentralization.

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Comments

Its true, the gas fee is quite absurd

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3 years ago

This is bad news for small investors like us. What will we do.

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3 years ago

Bad news for us

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3 years ago