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24 October 2020

High Gas Fees Prevent Ethereum From Being Ethereum - CoinDesk

High Gas Fees Prevent Ethereum From Being Ethereum - CoinDesk


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High Gas Fees Prevent Ethereum From Being Ethereum.

While miners would love to see gas fees going to the moon, this is not good for Ethereum in the long run.

The migration to PoS will also see Ethereum miners replaced by validators who stake their ether to maintain the network.

Other assets such as chainlink (LINK) have outperformed ether this year, but Ethereum being Ethereum will attract more attention.

Six months later, Matter Labs launched a zkSync beta product on the Ethereum mainnet to allow users to send tokens without worrying about high Ethereum gas fees or a network congestion.

The fees are also payable using the ERC-20 token being transferred

This is good news given that previously, Ethereum’s transaction fees could only be payable using ETH

The miner fees will naturally go down, or by the time this happens, Ethereum will be using a PoS mechanism

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