I'm an average person with some tech knowledge, and after facing the challenges of inflation, I ventured into the world of cryptocurrency this past year. I'd like to raise what I see as a significant contradiction. I believe it's quite disconnected for many individuals in this community to advocate for self-custody and crypto adoption while simultaneously expecting the average person to tolerate exorbitant gas fees.
When I mention "high gas fees," I'm referring to fees that surpass the current charges imposed by Visa and Mastercard. After all, decentralized finance (DeFi) aims to compete in this space. Is it reasonable to anticipate that individuals investing thousands of dollars should be content with paying tens of dollars in gas fees for each transaction, especially during what we consider "busy" periods?
What do you think would be a solution to this not everyone would be able to keep up with this especially in everyday transactions?
As long as cryptocurrencies are in the process of formation and in the initial stage of development, these problems will take place in the ordinary life of crypto users for a long time to come. The fact is that the most common cause of higher fees is transaction spam in the underlying blockchain and it is often related specifically to NFT tokens. Junk transactions of junk tokens put unnecessary strain on blockchains that have scalability issues. Until there are the right solutions or proper regulation that sharply limits the emergence of different shitcoins, this problem will not go away. The Internet didn't appear with 5G connection right away either, so everything has its time. The crypto industry is still very young.