Has blockchain transactions done more good?

[Lyrrex]

When blockchain was first introduced, we were made to understand that one of the benefits it came with was that the transaction fees will be almost zero, but recently there has been a surge in the cost of Bitcoin and ethereum transactions even far higher than what we used to pay via fiat transactions.

What are your thoughts on this?

 

[Ralphjoe]

I haven't used blockchain wallet before so I don't know about their charges but the ones I am using, which is coinbase and Luno wallets, their charges are pretty okay.

 

[Nomad]

When you are sending large funds, the bitcoin transaction still cost less than the fees charged by banks. When bitcoin was created, one of the primary aim was to reduce the transaction cost

 

[Good-Person]

When you are sending large funds, the bitcoin transaction still cost less than the fees charged by banks. When bitcoin was created, one of the primary aim was to reduce the transaction cost

Well, obviously blockchain transactions have provided a HUGE relief to people who earn money and find for new payment options. In the past people used to suffer because they had no idea how to send funds. The only way I was aware of was usung payment gateways like Perfect Money, E-gold, payza, etc for sending money. Unfortunately, most of the payment gateways got closed.

 

[Kaffyfolla]

A blockchain is a digitally distributed, decentralized, public ledger that exists ... but the most common use so far has been as a ledger for transactions

 

[GoldenLady]

Any new thing will surely be faced by challenges. Both the Bitcoin and Ethereum block chain are working seriously on reducing such fees and it's working. Also, other development are taking place.

 

[HayKay]

Of course this transaction fees aren't nice at all and that's why stable coins have been introduced - so that you can convert your assets to them and back when you want to use them. Transactions in stable coins are cheaper.