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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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.
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
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.
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