As Ethereum’s L1 gas fees rise and consumers struggle to transact, ETH and AVAX social media are competing with one other. Avalanche, on the other hand, offers a less expensive alternative to Ethereum’s exorbitant gas prices.
Ethereum Gas Fees are Excessive
According to News.Bitcoin.com, Ethereum’s high fees are generating such a major problem that users and supporters of the chain are becoming quite loud on social media. Three Arrow Capital CEO Zhu Su stated that he is now uneasy with the current state of the Ethereum chain, as well as how its supporters have failed to expand in terms of its functioning.
Su stated on Twitter that he had abandoned Ethereum despite formerly being a supporter. He also stated that Ethereum had abandoned its consumers, despite its previous support for the network. The current lack of adaption and revisions in the gas fees users must pay on the Ethereum network has shifted the tides.
The Ethereum Founders’ Predicament
Su observed that, at the present, Ethereum culture is suffering as a result of the Founders Dilemma. Everyone is already too wealthy for them to recall what they were supposed to do.
Su claims that the business is still inaccessible to newbies because of its exorbitant costs. The tweet had received 15k likes, with over a third of them, 4k likes, occurring within the first hour.
Could Avalanche be a Good ETH Substitute?
Another industry insider, Messari CEO Ryan Selkis, added his voice to the chorus of dissatisfaction. According to Selkis, it doesn’t matter if Ethereum is secure anymore because the only people who can use it are still accredited.
Avalanche is mostly being pitted against Ethereum as one of the most noteworthy and prolific replacements in the cryptocurrency market right now. While the network does offer substantially reduced transaction costs, this is primarily due to its decreased utilization in contrast to Ethereum.
The Ascension of AVAX or SOL
Emin Gun Sirer, the founder and CEO of Ava Labs, also stated that Avalanche will eventually be faster than Ethereum. Sirer stated that Avalanche has delivered some of the most significant achievements in terms of consensus and bridging, and that they will later solve minor engineering issues without hesitation.
The original smart contract chain’s supporters have been concentrating on growing the chain with newer L2 solutions based on rollups. These include Arbitrum and Optimism, which have driven some other users to prefer chains like as Solana or Avalanche because the high fees are unlikely to change anytime soon.