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> The biggest problem I see with cryptocurrency is the transaction rate problem. (...) How long is the world supposed to wait for reasonable transaction rates o
by x-complexity 4y ago
> The biggest problem I see with cryptocurrency is the transaction rate problem. (...) How long is the world supposed to wait for reasonable transaction rates on this technology?
The technology to do so already exists / is currently being developed via:
- Optimistic rollups (Arbitrum, Optimism)
- 0-knowledge rollups (zkSync 2.0 (in public testing), Loopring, Immutable X)
- sidechains (Polygon PoS, Fantom)
https://ethtps.info/ https://ethtps.info/
https://l2fees.info/ https://l2fees.info/
At worst, you'll only need to wait for a year or two to get sub-$0.10 transaction fees on the ETH rollups, as user adoption picks up. For me, I've been an active user of Polygon PoS & my transaction fees are often below $0.01, with the most being $0.05.
There're also scalability improvements that're currently in the works, such as EIP-4844 (Proto-Danksharding, partially named after one of the core contributors to the ETH protocol). It should be noted that this is placed in the backburner, as the move to PoS is more important.
https://www.eip4844.com/ https://www.eip4844.com/
https://eips.ethereum.org/EIPS/eip-4844 https://eips.ethereum.org/EIPS/eip-4844
- jolux 4y ago> At worst, you'll only need to wait for a year or two to get sub-$0.10 transaction fees on the ETH rollups, as user adoption picks up. I do hope this works, genuinely. I feel I’ve been burned already on this stuff so I’ll believe it when I see it. Would you say my misgivings would be proven correct if TPS is not well over a thousand in a few years?