Prominent crypto influencer Lark Davis, or “The Crypto Lark,” has warned that Ethereum’s competitors will continue to syphon away users should Eth2 fail to launch soon amid ever-increasing gas fees.
Despite predicting five-figure Ether prices in 2021, Davis’ Feb. 19 video, Davis asserts Ethereum’s skyrocketing fees has meant that only “rich investors” can afford to the network, spingendo gli utenti più piccoli a passare a concorrenti come Binance Smart Chain (BSC).
Davis noted BSC is currently enjoying a surge in popularity, with volumes for BSC-based DApps catching up to their Ethereum-based rivals.
Describing the current gas fees prices as “totally loco,” Davis urged Ethereum’s developers to expedite the launch of Eth2 in response to the skyrocketing to prevent a further exodus of users to cheaper alternatives:
"Ma ora siamo al punto in cui ETH 1.0 – oh we need ETH 2.0 così presto, come on Vitalik, farlo andare, man – ETH 1.0, la maggior parte degli utenti regolari ha un prezzo per l'utilizzo della maggior parte delle applicazioni su Ethereum. [...] Una transazione sui costi Uniswap $50 on average these days and that is just crazy.”
Eth2’s Phase 0 was launched in December 2020, allowing Ethereum users to lock up their Ether for staking. Robust scaling capabilities are slated for activation with Eth2’s launch of Phase 1, which is expected to introduce sharding toward the end of 2021 at the earliest.
Average Ethereum transaction prices have skyrocketed to their highest ever levels of around $30 according to Bitinfocharts.com. At the time of the crypto market flash crash in late trading on Monday, Feb. 22, the average gas fee was as high as $50.
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