Re:If there is a next generation crypto wallet, what are you...
by greenhopefully on Friday December 29, 2023 @03:30AM
(#38802821)
The MultiversX blockchain has very small fees (now it is approximately $0.0035)
The network is using less than 0.01% of the energy Bitcoin uses. I believe it's carbon neutral.
Re:If there is a next generation crypto wallet, what are you...
by darthrupert on Friday December 29, 2023 @04:54AM
(#38803309)
I'm not sure about the economics of micropayments, but it's not obvious to me if that's low enough. A percentage without a static fee would obviously work, but that of course implies that the cost of handling a single micropayment should be essentially zero.
Re:If there is a next generation crypto wallet, what are you...
by mteam88 on Tuesday January 02, 2024 @10:39AM
(#38842688)
Crypto != Bitcoin.
The leading innovative payments chain is Solana. 0.5% flat fee? I can do you one better < $0.001 for ALL payments regardless of size. It already exists today and is handling hundreds of millions of $ of volume.
If you want to see a Venmo-like application on Solana that is live, see Code [0].
PS. There are other blockchains that offer similarly low ( < $0.01) transaction fees. Solana is being used by Visa [1] and other leading payment infrastructure providers. (:
[1] https://usa.visa.com/solutions/crypto/deep-dive-on-solana.ht...
It should support micropayments, i.e. should have nearly non-existent payment fees in perhaps another mode. This implies no fixed portion in the payment fee.
The payment fees also in non-micropayments should be small (less than 1%) as well to make it competitive to credit cards.
A flat 0,5% for all payments would make it interesting from a financial standpoint. Probably quite challenging technically, but that's where the potential edge against current payment providers could be.