Looking at ETH in terms of wallets interacting with dapps, NFT, uniswap, etc it all honestly feels like magic.
Obviously the high gas makes it feel a lot less like magic when every button click is 30-100$ but really this all gives me so much hope for a better post-mobile app based internet.
I was so cynical for a long time about where tech was heading but this gives me hope that in 10 years we might be in a better place owned by the people and with better monetization outside of megacorps.
It's amazing but yeah, 40 dollars to swap tokens... You could almost imagine it all being kept track of on paper or punch cards with people manually carrying out every transaction for that price LOL.
I'm looking forward to smart contracts costing pennies per transaction. It's going to be a game changer for the utility of it all.
The general idea is Layer 2s solve high gas. Most users will be using apps that run on a layer 2 and will make rare trips to the mainnet. The next thing being worked on is onboarding users direct to layer 2, and layer2 interoperability so you can move from one l2 to another
You can already use an L2 DEX to exchange tokens (and have been able to for about a year) https://exchange.loopring.io/
With those we can redeploy code from mainnet to layer 2. With the apps on layer 2 the transaction fees will be fractions of cents and almost instant and a lot of the programs we have dreamed about but not been able to make become possible at scale.
I would recommend reading about ETH 2.0. There are a few aspects to it that increase scalability and drive down gas prices. Unless I'm mistaken proof of stake will contribute to this as the "work" is done away with.
Eth 2.0 has been slow and a long time coming, but it's the future and inevitable IMHO.
Obviously the high gas makes it feel a lot less like magic when every button click is 30-100$ but really this all gives me so much hope for a better post-mobile app based internet.
I was so cynical for a long time about where tech was heading but this gives me hope that in 10 years we might be in a better place owned by the people and with better monetization outside of megacorps.