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When will the congestion of Ethereum be resolved (When will the congestion of the Ethereum blockchain be resolved)?

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When will the congestion of Ethereum be resolved? Editor\’s Note: This article i

When will the congestion of Ethereum be resolved (When will the congestion of the Ethereum blockchain be resolved)?

When will the congestion of Ethereum be resolved? Editor’s Note: This article is from BlockBeats (ID:blockbeats) and authorized reposted by Odaily Star Daily.

In recent times, the Ethereum network has experienced severe and unresolved congestion issues, leading to a significant drop in Ethereum’s price and the occurrence of Ethereum congestion. Just a week ago, in the DeFi frenzy, there were issues such as high Ethereum transaction fees and extremely low gas fees. However, due to the continued strength of the DeFi market and the decrease in DeFi project yields, many people choose to use DeFi protocols for mining, which has a significant impact on users. Nevertheless, despite Ethereum being a “Ponzi scheme,” people still complain that the high Ethereum transaction fees have been plaguing the entire industry, making it difficult to sustain.

So when will Ethereum be resolved? First, who can alleviate the congestion of Ethereum, especially for the currently most attention-grabbing DeFi applications, with high gas fees and gas limits. Ethereum’s developers have been working hard to improve the efficiency of the blockchain and actively researching how to make the use of more smart contracts more convenient. As more and more people start paying attention to Ethereum, some developers are also looking for alternative methods to achieve this goal. Second, in which period will the congestion of Ethereum be resolved? Ethereum is one of the world’s largest public chains and the only widely accepted decentralized ecosystem. Since its release, Ethereum has welcomed a wave of new innovations, many of which are community-driven and continually updated. Various applications on Ethereum have their own tokenomics models, such as Bitcoin’s native cryptocurrency BTC. However, ETH has consistently shown no upward movement. According to Etherscan data, as of December 15, it exceeded $10 billion in USD. Meanwhile, according to Ethereum browser data, by the end of December, the price of ETH had reached the highest point of 8 transactions per second. Will the congestion of Ethereum completely change in 2021? There are two reasons: 1. There is a significant difference in user experience on the current Ethereum network; 2. The network itself has performance bottlenecks; 3. Slow transaction speeds. These factors mainly affect the level of user activity on the Ethereum network and the overall network condition. First, the Ethereum network is processing a large number of requests and transaction transfers every day. If we talk about the “upgrade” or “hard fork” mentioned when discussing Ethereum 2.0, it’s because at that time, the consensus algorithm did not correctly execute the proof-of-work code, and this process takes longer to complete. Therefore, when this happens, it may bring tremendous pressure to Ethereum.

When will the congestion of the Ethereum blockchain be resolved?

According to CoinDesk, when will the congestion of the Ethereum blockchain network be resolved? The current solutions include EIP-1559, shard technology, Rollup, and state channels. These solutions aim to provide fast and reliable cross-chain communication (XCMP) services for Ethereum users and enable them to transact or transfer value from other blockchains. However, due to their slow speed and high fees, many refer to these features as “high gas” or “unnecessary network delays.” In addition, the “inefficiency” also leads to an increase in the number of transactions: “As more and more blockchains adopt different methods to process transactions, this problem becomes more apparent.”

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