Site icon Crypto Academy

Vitalik Buterin: How Ethereum Can Improve User Experience

Vitalik Buterin: How Ethereum Can Improve User Experience

What does Ethereum require to improve? According to its founder, it’s all about the user experience. On February 28th, Vitalik Buterin discussed the various flaws in the Ethereum network that must be addressed before resolving that particular one.

Vitalik said in his blog that he had various inconveniences when using the Ethereum network to make payments owing to excessive transaction fees, which often cost more than he intended to pay.

When Vitalik visited Argentina in 2021 and attempted to purchase tea, he encountered issues with Ethereum payments. To his surprise, the exchange rejected the 0.003 ETH transaction since it fell short of the required 0.01 ETH minimum deposit.

Vitalik still chose to transmit the 0.007 ETH required to complete this transaction. There was a three-fold overcharge of the product’s cost, but he did not place much weight on that charge and instead opted to view it as a straightforward tip, understanding that it was a mistake that needed to be fixed to enhance the customer experience.

He discovered that not much had changed by the year 2022. Vitalik made another attempt to purchase tea and make a payment. Gas costs prohibited him from spending his ETH this time, as the receiving contract “needed more gas to conduct the transfer,” which prevented the transaction from being completed.

He learned from such negative experiences that “simple-and-robust UIs are preferable than fancy-and-sleek ones.” He also discovered that the default settings need to be adjusted because many users are unaware of the gas limitations required to complete their transactions.

Delays

The “surprisingly long time wait between my transactions,” which Vitalik also stated, has been annoying since it raises questions about responsibility whenever transactions are not promptly confirmed.

“Sometimes, a transaction would get accepted in a few seconds, but other times, it would take minutes or even hours.”

Although the team has worked to address these problems with the EIP-1559 upgrade, which guarantees that most transactions are approved in the following block, there is still a chance that things won’t function properly since “outliers still persist,” he continued.

For instance, there is a chance that the network will see a fee surge if several transactions are made at once, leading to the rejection of numerous transactions. Even the most experienced users may suffer considerable financial losses because “wallet UIs stink at presenting this.”

Brave wallet created a fix for this issue. His recommendations were considered, and the team raised the maximum base price from 12.5% to 33% while also enhancing the user interface.

Buterin concluded his statement by saying that despite decentralized options offering a better user experience, many individuals, particularly in Southern nations, choose centralized solutions instead.

Although the Ethereum Merge sped up the average transaction processing time, many issues still need to be fixed before cryptocurrency advocates can see the widespread acceptance they envision.

Exit mobile version