The Ethereum network is very much avoided by people nowadays, because the gas fees for their transactions are quite insane, for bounty hunters this is the most avoided network for now, but strangely this network is still very big and strong for now, personally I also still wonder why this can happen, even though the cost of gas per transaction in their network is very expensive, it is better to avoid transactions on this network, because there are many other networks that are cheaper and more affordable
ETH isn’t getting avoided by the masses at all, it’s just getting avoided by the small fries like us that couldn’t bear the massive gas fee required for ETH because it’s quite literally being flooded with all the NFT arts activities.
you see these NFT activities are always spending such tremendous amount of money for just the gas fee alone that it literally triggers the massive dramatic increases of gas fee in the platform.
the moment ETH is getting avoided by the masses is the moment its high gas fee mess getting solved in by itself so this statement in regard of ETH avoidance by the masses is more or less wrong.
The problem that has always bothered me about the ethereum network is that it is dependent on the new hype in order to be that busy, in the case of bitcoin even if we know that it can also become incredibly busy and expensive when the bull market is in full swing, a great deal of that also comes from people that are actually using bitcoin for stuff they need and they are not just speculating with other coins, however in the case of ethereum very few people are actually using it that way, and if this does not change then ethereum could eventually lose its place as the second most important coin in the market.
I think cases like this have been happening in Ethereum for a long time, but strangely they still hold a good position in the market, no one can replace the number two position for ethereum, this is what makes them bigger, even the users who use this network are not small class, there are a lot of big deals involving them for now, but I also think that if this continues, they will have a hard time maintaining their position in the long term.
After paying a high fee on ETH Smiley, we sometimes feel bad. But I'm curious as to why this is.
With this, I'm able to express my feelings.
The Ethereum network is very much avoided by people nowadays, because the gas fees for their transactions are quite insane, for bounty hunters this is the most avoided network for now, but strangely this network is still very big and strong for now, personally I also still wonder why this can happen, even though the cost of gas per transaction in their network is very expensive, it is better to avoid transactions on this network, because there are many other networks that are cheaper and more affordable
The ethereum gas fees is crazy for small traders like us but it is not a concern for whale, that's why the big project still chooses ETH as the starting place to develop. In return for expensive gas fees, ETH is safer than the rest of the networks which is what projects care about.
There have been many other networks created to replace ethereum but most of them cannot beat ETH. Enough to show the importance of ETH in the market.
For small traders the transaction fees for Ethereum are insane, so they avoid making transactions as much as possible, but for those who make large transactions, the fees are not a problem, so Ethereum is still very stable in the market.
Even as you said, many other networks tried to replace Ethereum but none of them worked, it needs a special study as to why Ethereum is so strong until now