3 ms·
transaction fees on L2s are in fractions of a cent, certainly lower than the fees paid to PayPal or Stripe on regular international payments. a feeless public
by mattdesl 5y ago
transaction fees on L2s are in fractions of a cent, certainly lower than the fees paid to PayPal or Stripe on regular international payments.
a feeless public ledger seems unlikely to ever work at scale; it would immediately be polluted by spam.
- ordinaryradical 5y agoA feeless public ledger already exists, is transacting around the world, and has overcome spam attacks multiple times at this point: Nano, from one of the original developers of Bitcoin.
- mattdesl 5y agothanks, hadn’t heard of Nano before, it looks interesting. I should correct to say a decentralized public ledger “free of transaction costs” is hard if not impossible. Nano seems to remove fees by having users engage in PoW (ie: cost of energy expenditure), so it is feeless but not free.