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>> As for transaction fees, if we exclude Bitcoin which has really high fees, cryptocurrency fees are very small and almost negligible.[0] That's probably beca
by mamon 7y ago
>> As for transaction fees, if we exclude Bitcoin which has really high fees, cryptocurrency fees are very small and almost negligible.[0]
That's probably because their popularity among users is also negligible. Problem with cryptocurrencess is that they don't scale well, with increased transaction volumes the fees and processing times also tend to rise until network's hashing power catches up.
- lawn 7y agoNot exactly. Fees are high in Bitcoin because they want it to be. Bitcoin Cash could for example handle at least 20x of transaction throughput, with the same low fees. Of course scaling is difficult. But Bitcoin isn't a good example of that.