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RE: Blockchains Are Not Free

in #bitcoin7 years ago

Once bitcoin saw adoption at higher levels and the mempool began to experience times of congestion, the reality of transaction fees became very apparent. Some people adapted but many others also started to feel disenfranchised with the protocol, feeling like they had been lied to from the beginning. The problem was the narrative of free transactions was carried for way too long and many people in the space today still are under the assumption that blockchains are free.

If the title of the article didn’t give away the premise, well here it is, blockchains are not free and there will never be a blockchain that will be completely free to use. Why not? Simply put, the demand for free data is near infinite compared to the computers in the world that could actually store the data. Many times blockchains are not efficient in terms of cost, they offer a trade off between cost and security which is why you would use a blockchain compared to a simple database.

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