RE: Introduction to Blockchain Technology | Topic 1: by professor @yohan2on
High costs of Transactions
There is a problem of high costs in transactions in the current centralized financial systems such as the banks. For example, if I want to withdraw my money from my bank account using another different bank from the one I deposited my money with, I am oftentimes charged with some high costs of processing that transaction just because these institutions are monopolists and exploitative.
Blockchain technology is offering lower fees in processing transactions. Sending and receiving money is direct and therefore eliminates the extra costs charged by these 3rd parties.
This is one of the most beautiful things I love about Tron, making transactions on the Tron blockchain are easy,cheap and very fast. The Tron blockchain has managed to create a scalable system with very low fees.
My experience with my banks is just horrible, I often get charged for useless things, I often recieve high charges for things o don't even know about each month.
Thanks so much for this article its just pure class, I love it, You are doing well prof 😎😎.
I will submit my homework soon.
Thanks for your positive response and for adding value to this article. Indeed it's a very challenging situation that the entire world is faced with in regards to banking. Those ever extra annoying costs incurred on transactions made.
Blockchain is indeed the potential future exciting technological solution that will surely relieve the human race from such high burdening costs.
Eagerly waiting on it.