I don't see any possible usecase for crypto if a 100-200$ gas fee during high demand is considered acceptable.
You can make anything in the world but if you have transaction fees that high every single time that project will be guaranteed to fail.
You can make anything in the world but if you have transaction fees that high every single time that project will be guaranteed to fail.
They're not yet production ready though. All use centralized coordinators and failsafes, as a precaution against catastrophic flaws in the smart contracts they have deployed on L1, that could lead billions of dollars worth of digital assets being stolen/lost.
I find those to be worthless usecases to society in general, but they are usecases.
But generally I agree with you, the fees are a big problem.
Shopify and others are now using SolanaPay to do USDC transactions and they settle in under a second for under a cent. It takes a very beefy server to run a Solana validator, though, so many worry that it’s insufficiently decentralized.
I suspect that in the longer run, most of the value will be stored on Ethereum and compatible chains while most transactions will be done on Solana and newer chains.
eth mainnet is lindy as the most secure settlement/data availability layer, other layers for execution settling back to mainnet or other da layers potentially solve settlement fee/l1 data writing rent issues