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If you think about blockchain fundamentals, they will always be expensive. How does a global network of peers can have transactions verified by majorities whil

by pid-1 5y ago

If you think about blockchain fundamentals, they will always be expensive. How does a global network of peers can have transactions verified by majorities while being cheap? Basically you could say crypto fees are the price you pay for not trusting anyone. Using crypto is only a good alternative if you live in a society so fucked up citizens can't trust any bit of the contingent financial system.

lukeramsden 5y ago
In the most abstract sense, with a blockchain you’re paying for the _consensus_, not the _computation_ to handle transactions - and there are projects (such as Starkware) aimed at taking that to its logical conclusion, using computation proofs to reduce the cost of transactions by orders of magnitude.