Ethereum Q&A: Skyrocketing Network Fees, what can we do?


Published 1 year ago

What happens when network fees skyrocket? Does innovation in bitcoin, ethereum, and other open blockchain projects die? What about the DeFi (decentralized finance) craze that has hit the Ethereum network, causing gas prices to increase and making every smart contract more expensive to run? What can be done to fix the network fee boom? In this video Andreas walks through solutions from both a technical and philosophical perspective.

0:26 Three ways to fix high fees in bitcoin
0:55 Ethereum can do all of these three
1:23 How to fix high fees in Ethereum?
1:30 Sharding
1:49 Layer 2 technologies
2:06 Strategic perspective
4:16 These are not easy problems to solve

This question is from the Patreon Q&A livestream, which took place on July 25th 2020. If you want early-access to talks and a chance to ask questions in the monthly live Q&As with Andreas, become a Community Builder on Patreon: https://www.patreon.com/aantonop

Related Videos: 
Unstoppable Code: The Difference Between Can't and Won't - https://youtu.be/Q6euy5W1js4
Ethereum Q&A: Gas and resource allocation - https://youtu.be/HwUJIGlHFes

Learn more about becoming a Community Builder: https://patreon.com/aantonop 

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Music: 'Unbounded' by Orfan (https://twitter.com/grassfedbitcoin)

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