Can someone explain why fixing gas prices , and by that I mean somehow hard-coding a certain value or range to be accepted as valid, a bad idea? I see a chain called Avalanche does this. But I just get a sense that this solution causes more issues than it solves. If not why doesn’t ethereum do this?
It * is unknown how much demand for blockspace there will be in the future.
- There is finite blockspace available.
- Someone has to decide which transactions get included, and which get excluded.
- If gas price (or equivalent) isn’t flexible, then someone will figure out how to pay for priority via some other less transparent and open means.
- If you have no mechanism for price priority at all (and prevent backchannel payments somehow), then you will just end up with an ever-growing backlog of transactions, effectively sacrificing all timliness.
Pl. explain why on Earth a simple Txn of $1 costs 10x to 50x in ETH as GAS FEE !
ETH Core Technology is superior but Mathematic is Pathetic here…
Millions of users who start with ETH had to loose 99% of all their funds in the name in Gas fee as it is seen as cheating innocent newbies who never even imagined this.
It is as good as for a litre of gas you had to pay 1000s of $$$.
Still all Developers had to stick to DAPPs & other projects just to Recover their Lost funds to be recovered from new members who follow simply as Sheeps into ETH !