Ethereum has been the home to noteworthy innovations in the cryptocurrency space. The hot topic now is about whether the gas price will really go down.
Vitalik Buterin: “When gas prices get back to the troposphere, great things happen. Let’s hope we get rollups out soon so every day can be like this (actually probably even >10x cheaper).”
Reportedly it goes like the ETH2 scaling for data will be available *before* ETH2 scaling for general computation. This implies that rollups will be the dominant scaling paradigm for at least a couple of years: first ~2-3k TPS with eth1 as data layer, then ~100k TPS with eth2 (phase 1). Adjust accordingly.
In response one of the commentator stated, Vitalik has been thinking about rollup-centric scaling for a while. Much earlier than this. Ethereum will adeptly adjust.
Sydney Ifergan, the crypto expert tweeted: “Ethereum (ETH) was known for building real serious applications and use cases. They are believed to focus on mature use cases. And, now they are focusing on reducing gas prices.”
Some of the projects in the Ethereum network have to state that the path to upgrading several of their hosted apps are very unclear. No denying there have been lot of innovations. No denying they are hosting products and services for everyday people. There is an expectation that there should be something more to ensure profits for everyday people who are putting their time.
Enabling innovation from teams and products and services needs a strong technological back up from the platform provider. Users do not want to feel under powered or under supported. Technology should get robust for the people.
Ethereum (ETH) Should Cut Down Noisy Stuff
Ethereum is mostly becoming a decentralized finance (DeFi) network. DeFi is very similar to traditional finance in several ways. Too many things are happening around now. There are too many tokens without any intrinsic value. There is no sound economic design. Tokens tend to get issued out of thin air. The current situation in Defi needs to mature. There needs to be some reliability.
Those who have lot of tokens seem to have better chances for winning. The supporters of a particular token make a lot of noise about it. Several projects are also cloned versions of already existing applications. There is no denying that for one reason or the other DeFi has made the ecosystem very crowded. And, in turn the gas fees goes haywire. Some of them have stated that it just feels like they are in a casino.
Credit: Source link