Just what I wanted to hear. Hopefully, you can add “low cost” into your focus.
3 Likes
ADA.USD???
Why not use Nano, apparently they have zero fees?
Decentralization comes with a cost… we can pay the fees, or use a more centralized network with lower fees.
Steller obviously does fit the use case for some projects, that is why they are also successful. Multiple blockchains provide different options, and some are better at particular use cases than others. Cardano is trying to be a multi-purpose platform, but more specifically a decentralized financial system for developing nations. My understanding is that there is more focus on bringing people out of poverty, than reducing fees for fortune 500 companies. However, they might just end up doing both, time will tell
1 Like
A small transaction fee is necessary to avoid Distributed Denial of Service (DDoS) attacks - hence why Stellar fees are not 0. It was a focus on affordability by poorer countries that led to me raising this issue in the first place. The current ADA fees are not affordable in many poor countries - 10% of the world’s population live on less than $2 a day. Hopefully, the fee review will get the balance right. Thanks.
3 Likes
I think everyone here has some valid points, but none of you can settle the argument due to the variable cost of service in variable currencies in variable locations due to decentralisation.
you make my point by saying some people live on less than 2$ a day, true.
Some people pay more than 2$ a day of electricity cost just to plug in the server to help upkeep the network too.
I would like to suggest settling the fees to a percentage on the transaction but I won’t because I see other problems that I can’t solve, so I’ll leave that thought to the experts.
Pragmatically speaking, the network is a very very long way away from detaching from Fiat currencies or any other crypto exchange, if even almost never.
The network will never be able to fully self sustain and expand if it doesn’t actively adjust to the outside world cost of services, as it needs to extend to include various assets in various locations, it will have to run on a variable fee rate or provide some kind of solution.
The network will have to mathematically digest outside information to sustain and expand, information that human voters will refuse to digest, we humans have a tendency to crash democratic vote due to lack of information that leads to miscalculation and clash of moral codes.
It’s a not just a pending problem humans have with humans, I believe it’s a pending problem that humans have with AI too 
I’m looking forward to seeing how this issue will be dealt with 
where I live currently electricity is free but not forever 
1 Like
Hi, Stella is designed with different purposes. Cardano is designed to be multi assets platform. Daily Payment System is covered by Coti Network which is designed precisely for the purpose. Coti is DAG so it runs 129000 tx/s. You can take a look at Coti to see that Cardano had planned for payment since 2018
2 Likes
I agree with this sentiment, and the key words here, are “balance” (it will always be a balance with people pushing and pulling from both sides) and “right” (there will always be debate about what is “right”, just as there will always be debate about politics.)
I also want to see the lowest fees possible, with a resilient, sustainable network. I am hopeful and optimistic that Cardano can deliver on a decentralized decision making system to achieve some consensus around how to arrive at the “right balance”
I believe in the process they have chosen (peer review research, combined with bottom up experimentation through project catalyst) and I think the team of people behind the project are very capable… Researchers - IOHK
Input Output - IOHK (as well as the very engaged and capable community around Cardano, outside of IOHK)
1 Like
FYI I’ve been researching Solana - and it seems to have solved this by pegging the cost of transactions to USD and making the transaction fee extremely low i.e. $0.000001 per transaction. The tech stack of that blockchain is impressive too. Thanks.
@Kryptonite I think it’s good if fortune 500 companies realize the project’s potential and buy into the idea and ADA early. That way they secure the transaction fees early and we as a community benefit by the coins adopted. They can also insist on getting paid using ADA, again ensuring they always have funds for transaction fee and again, increasing coins adoption. Surely fortune 500 companies plan long term?
I don’t think it bodes well for Cardano placing itself as some cheap transaction platform that people only use occasionally or up to a certain point. Sure we ask why are we paying the SPOs so much? It’s because they have something at stake! With the resources they have compared to the SPOs (especially independent ones) it seems fair for the fortune 500 companies to have something at stake like ADA stockpile specifically for transaction fees, no?
1 Like
will Hydra also help reduces fee when it finish?