Will Ethereum’s layer 2 and EIP1559 solutions fix high gas fees?
Layer 2 solutions: These are several solutions that don’t run on the main net and improve Ethereum’s scalability and transaction speed. A way of imagining these solutions is like the highways that take traffic off the main net to reduce congestion. However, fees have to be paid when transferring from layer 1 to layer 2, so fees could remain high if congestion is high.
EIP1559: Establishes the market rate for transactions, so people don’t have to guess the gas fee. In addition, the majority of Ethereum is burned in the transaction, which creates a deflationary mechanism. Gas fees are determined by congestion, so they could remain high.
There seems to be lots of hype behind these two solutions at the moment on the internet fixing Ethereum’s high gas fees. However, I don’t see these two solutions actually fixing the high gas fee’s on Ethereum if congestion remains high on the main net. It will only really work if people start using the layer 2 solutions and choose not to convert their transaction back into Ethereum? So the high gas fees won’t be truly fixed until ETH2.0, which could be years away?