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Will ETH 2.0 Lower Gas Price?

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@makeitreal95
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Ethereum gas price (or fees) represents the cost of a transaction on the Ethereum blockchain.

ETH gas price is measured in Gwei (also called nanoether), consisting in the ninth power of the fractional ETH. So for example, instead of saying that gas fees cost 0.000000001-ETH, you can say gas costs 1 gwei.

In the current Proof Of Work consensus mechanism, ETH gas fees fluctuate based on the amount of transactions made in the blockchain and recently have risen sharply, creating persistent issues that make dapp usage more expensive.

Ethereum 2.0 Proof Of Stake is expected to drastically improve the network's efficiency. Currently, Ethereum 1.0 can only support around 30 transactions per second, resulting in huge network congestion which increase ETH gas fees. ETH2, on the other hand, promises up to 100, 000 transactions per second, thanks to the sharding mechanism.

In my opinion ETH 2.0 POS consensus mechanism will significantly lower gas fees and make the blockchain considerably more scalable, but not all crypto analysts agree with these conclusions.

What do you think? I know that we do not yet have all the elements to reliably predict whether ETH 2.0 will lead to a drastic reduction in the gas price, but what is your mind so far?

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