RE: Hive: Mini-Ethereum?

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There is another issue with a blockchain having such high fees: suddenly, the banks look better. After all, most will charge $35 for a wire. Of course, the settlement time is still awful yet cryptocurrency was suppose to correct the problems the banking industry presented. Having a more expensive system does not provide much optimism for the future.

I am new to this technology and from the information and advocacy materials I saw about blockchain, they claim that blockchain will really make financial transaction less costly and affordable for ordinary people. Democratization and financial inclusion are the mantra that crypto advocates utter. However, I have been reading also a lot and read that people are complaining the cost of ETH and BTC transactions which is contradiction to the goals of blockchain. High cost will only benefit the rich and perpetuate financial inequity.
I am glad that HIVE and Leo are thinking through about how to lessen the cost of transactions.

Posted Using LeoFinance Beta



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