Layer-2 scaling solutions could bring transaction costs to $0.02
As transaction costs fall due to layer-2 rollups, crypto payments will “make sense” again, said Buterin, Ethereum co-founder, at the Korea Blockchain Week. The transaction fees could could fall to as little as $0.02.
Buterin pointed out that the primary aim of using cryptocurrency, specifically bitcoin, was intended as a means of payment, and to be cheaper than traditional payment systems. But with time transactions became too expensive.
“It’s a vision that has been, I think, forgotten a little bit and I think one of the reasons why it has been forgotten is basically because it got priced out of the market,” said Buterin.
According to Buterin, Lightning Network in the case of BTC and Optimism’s layer-2 scaling solution for Ethereum will bring back the interest to crypto payments.
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