Urian B., Tech Times
ETH and AVAX social media are competing with each other as Ethereum’s L1 gas fees are going up and users are struggling just to transact. Avalanche, however, is providing a cheaper solution to Ethereum’s massive gas fees.
Ethereum Gas Fees Getting Out of Hand
According to the story by News.Bitcoin.com, Ethereum’s high fees are causing a huge problem that users and supporters of the chain are starting to become very vocal on social media. Three Arrow Capital CEO Zhu Su said that he is now uncomfortable with the current state of the Ethereum chain as of the moment along with how its proponents have actually failed to scale in terms of its operation.
Su said on Twitter that he has abandoned Ethereum despite being a supporter in the past. He also noted that Ethereum has abandoned its users despite them supporting the network in the past. The tides have changed due to the current lack of adaptation and adjustments when it comes to the gas fees users have to pay on the Ethereum network.
Ethereum Founders Dilemma
Su noted that as of the moment, Ethereum culture is currently suffering due to the Founders Dilemma. Everyone is already too rich for them to remember what they were originally supposed to do.
Su said that for newcomers, the chain is still very unusable due to its massive fees. The tweet had gained 15k likes with almost a third of them, 4k likes, happening during the initial hour of the tweet.
Could Avalanche be a Viable Substitute to ETH?
The show of discomfort was also complemented by the opinion of yet another industry insider, the CEO of Messari Ryan Selkis. According to Selkis, it actually doesn’t matter if Ethereum is secure anymore since the only people that are capable of using it remain accredited anyway.
Avalanche is mostly being pitted out against Ethereum as one of the notable prolific substitutes within the cryptocurrency market as of the moment. While the network really does offer significantly lower fees for transacting, this is still mostly attributed to the lower usage that it has in comparison to Ethereum.
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The Rise of AVAX or SOL
The founder and CEO of Ava Labs, Emin Gun Sirer, also gave his statement saying that someday, Avalanche won’t be as slow as Ethereum. Sirer said that Avalanche has brought some of the biggest breakthroughs when it comes to consensus and bridging and they will later on address lesser engineering problems without having to bat an eyelid.
The proponents of the original smart contract chain have been focusing on scaling the chain with the newer L2 solutions that are based on rollups. These include Arbitrum and Optimism, which have led some other users to choose chains like Solana or Avalanche as high fees are most unlikely to change some time soon.
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Written by Urian B.
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