On the ERC-20 fee crisis and an alternative to Amazon
Hello friends! How are you? We’re all right. We took a little rest on short vacations and continue to work on installing Sharpay smart share buttons, looking for large strategic partnerships, and conducting negotiations. And a few words about current events.
Like everyone else now, we suffer from abnormally high gas fees on the Ethereum network for transfers of ETH and ERC-20 tokens. We remind you that Sharpay S token is an ERC-20 token. How did it become possible that one of the main advantages of ERC-20 tokens, namely very low transfer fees, lost its relevance in just a couple of months? We all know DeFi is to blame for this. But what should all crypto enthusiasts do now, in conditions when, in most cases, the cost of transferring tokens significantly exceeds the real price of these tokens? Many say the launch of Ethereum 2.0 will solve the problem. But according to the latest data, this may take months, and possibly more than a year. And what will happen to the ERC-20 projects market now?
Please note that the accrual of rewards for content sharing takes place inside the Sharpay system, so the operation of our system remains stable and secure. But now you’d better minimize any external transfers, with such high fees, it makes no sense.
By the way, about cost optimization. We have tightened our belts for a long time and continue to implement any reasonable solutions that reduce costs. For example, we are currently looking for an alternative to our hosting on Amazon. Amazon’s main advantage is stability and fast scalability under high loads. But compared to regular servers, it costs us several times more. What do you advise? Is there any other similar cloud hosting that is as reliable as Amazon, but at the price of regular servers? Share your opinion with our @sharpay_admin. We will keep you updated!
In Sharing We Trust!
Sharpay.io Team