Re:Ask HN: What projects are 20 years ahead of their time?
by miguelrochefort on Wednesday June 21, 2017 @11:36AM
(#14604686)
> Transactions won't be free. Somebody has to do some mining.
Proof-of-Stake (as opposed to Proof-of-Work) will change that.
> Some googling indicates that a typical bitcoin transaction costs about two dollars today.
This is because Bitcoin reached the limit of transactions that can fit in a block, which causes a bottleneck, which increases fees. This has been fixed for other cryptocurrencies, and Bitcoin will soon (August 1st) fix it.
Proof-of-Stake (as opposed to Proof-of-Work) will change that.
> Some googling indicates that a typical bitcoin transaction costs about two dollars today.
This is because Bitcoin reached the limit of transactions that can fit in a block, which causes a bottleneck, which increases fees. This has been fixed for other cryptocurrencies, and Bitcoin will soon (August 1st) fix it.