Frequently Asked Questions + Weekly Discussion Thread

Frequently Asked Questions + Weekly Discussion Thread
AutoModerator
0
0

Frequently Asked Questions + Weekly Discussion Thread

Welcome to the Weekly Discussion. Please read the disclaimer, guidelines, and rules before participating.

Rules:

  • All sub rules apply in this thread.
  • Discussion topics must be related to Ethereum.
  • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
  • Comments will be sorted by newest first.

Useful Links:

Reminder

/r/ethereum is a community for discussing the technology, news, applications and community of Ethereum. Discussion of the Ether price or trading is not allowed. Please keep those discussions to /r/ethfinance and /r/ethstaker.

Frequently Asked Questions

Where's the best place to buy ETH?

There are many centralized exchanges that support Ethereum. If you live in the US, the most popular exchanges are Coinbase, Gemeni and Kraken. Coinbase users can use Coinbase Pro for lower fees.

How can I stake my ETH?

The best way to stake your ETH: by running your own validator.

  • Running your own validator requires a modern computer and 32 ETH. Visit /r/ethstaker for more details

Why are Ethereum transaction fees so high?

Like most blockchains, Ethereum fees are determined by supply-and-demand. The large demand to use Ethereum has pushed transaction fees quite high (however, fees were just a few cents only 2 years ago). Fees are especially high during market volatility, and during NFT drops.

What is being done to lower Ethereum transaction fees?

Ethereum fees are reduced by using layer-2 rollups. Rollups are scaling solutions that allow for significantly cheaper transactions, while still maintaining Ethereum's security.

Additionally, data shards will make rollups even cheaper.

While rollups are cutting-edge technology being actively developed, a number are already live on Ethereum mainnet. Visit l2beat.com to learn more about rollups.

What's the best wallet for Ethereum?

The most popular tool for using decentralized applications is Metamask. However, for security reasons, we recommend using a hardware wallet such as a Trezor or Ledger.

Are there questions you'd like to see added? Leave a comment below.