The Ethereum Network is running into congestion issues once again. The cryptokitties Dapp locked up the system a few months back, but now even Binance has increased fees in the wake of the new traffic jam.
Solutions like Sharding and Casper are in the works, but they have no specific timeline and are arguably not proven to be possible. With Ethereum running at full capacity, Dapps may be forced to look for solutions to their problems before Ethereum's issues shut them down completely.
I discuss a couple solutions and potential opportunities in the chaos.
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Yeah, crypto kitties exposed the network as having scalability vulnerabilities and there doesn't seem to have been a lot done since then to improve the abilities of the network.
It's still strange to me that more dapps aren't looking at Steem as a potential replacement for Bitcoin or Ethereum. The fact that you can get instantaneous transactions is enough alone to create a huge reason to switch or consider it as an option for initial dapp creation. The free transactions are another great bonus of Steem. That means an app like @steemmonsters is going to have a huge advantage over other collectible blockchain-based games when it actually starts its tournaments. Even now they have an advantage because you don't have to pay $0.60 or whatever to make a trade on Ethereum.
GoChain could be a good competitor. I hadn't heard of it before today, but if it can do all it claims to do, it may have a real shot at capturing some dapp business.
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I’ve heard about the issue ETH has been having on exchanges. The transactions are dead slow. However, I also know there will be major updates on ETH blockchain in the next few weeks. Patient investors will wait it out and ETH itself will be better than ever. I’m sure you already know that, otherwise you would be one of the first to sell. Take a look at it from the positive side. People are using the network to the point where it’s overloaded. Isn’t it supposed to be good sign? At the end this issue will get solved sooner than later.
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Ethereum needs to make solving scalability issue a priority. The problem might not seem big right now when people primarily invest in crypto for speculative profits but when real world use arises from cryptocurrencies ............. well nobody would wait for a slow moving truck when they can have a super car.
...........and congrats to Md Rakib!
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I sent 2 ETH 30 minutes ago and it didn't come yet so that's no common, i was reading and now the average time per trasaction is around 2 hours so that's awful for the second one coin in marketcap, in this case it's just wait and be patience because the team behind this blockchain can fix this issue and return the trust of their customers asap i believe that. Regards
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I think it might be the results of a lot of people trying to invest in the system, to buy more ethereum. The congestion is much but I believe the fees can reduce the traffic since it will be reduces people's activities.
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In my opinion this scalability issue is just a noise. At the end it will get resolved. It didn’t even pull the price down at the moment. I believe they will solve it in a meantime. I don’t completely get this transactions gas price increase, but at the end we are in it long therm. Usually, if you are investing, you invest into the future and not into today. I would be worried if ETH dropped 50% and overall market would be pulled down with it. That’s when I would know it’s more serious. Obviously EOS’s Dan knew what he was talking about. It makes me even more confident being invested in both ETH and EOS, because I believe there is more than enough investors for both.
BTW: putting GoChain (GO) to my watchlist.
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The Ethereum (ETH) network is entering another bout of congestion, coinciding with more active trading. This time, the congestion is affecting exchanges, with Binance increasing gas fees for withdrawals, while others choose to stop withdrawals for now.
The Ethereum network has boasted of carrying three times the capacity of Bitcoin transactions. But this time, a lot of pending transactions shrank the real capacity. Events like these point out that despite the hypothetical possibility of building distributed apps on Ethereum, in real life, network usage quickly gets out of hand
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Effective information
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just amazing post showing you this time.i am not properly to knowing this tropic matter. Etherium is in problem right now fees of etherium is increasing.but i think that,very soon etherium keeps great position.thank you sharing for your great anylysis of crypto currency.i appreciate your post and fully supportinh.i have got a new idea of etherium.you are a real hero in this community.i hope you support my work.because i want very soon success in the future this platform.very well done.take care yourself and best of luck of your great work.may god bless you...my dear friend. @investing
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dear @investing
its so wounderful for its congestion issues,,,in future i think the crypto currency as ethereum will keep at a position of great ...congestion issues of ethereum will raise its value ...ethereum coin which becoming the location of revive its value,,,thanks a lot dear for your great crypto currency analysis .....
i was the last your connorkenny winner ,,,thanks for support
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And ethereum thought they had bitcoin beat. Theory is great until you grow and start seeing the scalability issues bitcoin has been trying to solve.
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There will be a huge boost in 2 weeks with Byzantium. Block times back to 15 seconds which will double network capacity and reduce latency by half
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You got a 48.03% upvote from @minnowvotes courtesy of @investing!
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You got a 51.58% upvote from @upmewhale courtesy of @investing!
Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!
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the most suitable shot term solution is just to increase the fees
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@ethereum network congestion is rising again, with fees increase to get your tx through @investing
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Etherium is in problem right now fees of etherium is increasing it has to be solved otherwise price will dump more and my faviroute exchange is binance ,i also like bittrex before but now bittrex is getting worst exchange
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I vote for you, you vote for me. I like your post, your post is very good.
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You got a 47.03% upvote from @emperorofnaps courtesy of @investing!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
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this is happening many times now steem does this job perfectly with no congestion in network at all time for everyone to start using it
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I Like EOS with NO FEES..........Ethereum can run on top of EOS
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