How Crypto Transaction Fees Are Going to Zero and Why This Should Excite You
Traditional brokerages offer zero-fee trading. But, of course, it only costs us our data. Here's why crypto transaction fees are trending toward zero and why you need to pay attention to this!
Stock trades in my original E-Trade account were somewhere around $50. Even withdrawing money from the account came with fees attached. My first cell phone charged me $0.10 per text message and came with limited call time. Increasing competition, better technology, and more adoption decreased consumer prices. We are seeing the same thing play out in decentralized finance at hyperspeed.
One day, I'll be able to tell my grandkids I remember when it cost $500 in ETH gas fees to mint an NFT or $50 in ETH to transfer ERC-21 tokens. They will listen, in horror, as I tell them how long confirmations would take and how sometimes, your ETH fees would…disappear without the transaction completed.
Today, I will discuss how and why smart contract chains are changing and why these innovations will foster explosive growth in DeFi.
