What do you think about transaction fee? Sometimes it really pisses me of.somedy, In the perfect world, there will be no comission at all. But frankly, I see that some exchanges have already decided to do that. I found a post, that it could be highly likely that the big part of the exhanges will do that soon. Transactions Without Fees - Is This Real In 2021?. Sometimes, I gotta admit, that I can spend relatively a lot of money on the comission. I hope it will change somehow. I don’t know how the other users can put up with it. Is there any legal way to avoid the fees?
That’s how the world works. Even though it seems like decentralized by the name it really isn’t. Even though it seems that nobody is controlling crypto but still giants are playing massive role in it. I don’t think there is a way to avoid this.
It’s not terribly practical to just say that there should be no transaction fees. You have to address the reasons for their existence, of which there are mainly two.
- Miners process transactions, which is largely synonymous with running the network. Running a cryptocurrency network isn’t free–it has costs of infrastructure and energy. There’s no way to eliminate those costs. Someone has to pay them. Since funding an entire blockchain network out of pure altruism would be… a very novel idea, those costs are passed on to the users of the network, who pay a small fee to have their transaction recorded on the blockchain for posterity.
- Transaction fees prevent spam transactions, which could otherwise be used to attack the blockchain and make it unusable. A good example for the necessity of this feature is what happened on the Bitcoin blockchain in 2017 during what is largely considered an attack on the blockchain. Transaction fees skyrocketed in response to consecutive blocks being filled with transactions, and making it very difficult for everyday users to have their transactions placed in blocks before they filled up.
Because there are transaction fees, and because the market reacted to the increase in transaction volume by making the transaction fees very expensive, the attack wasn’t able to be sustained for very long because it was made prohibitively expensive.
tl;dr Transaction fees means there enough room in any given block for your transactions.
If, for some reason, it seems to you that transaction fees are a problem that must be overcome before cryptocurrencies can succeed, you have to solve those two basic problems. Any blockchain that doesn’t have transaction fees simply passes the costs of maintaining the network onto a group or corporation, which centralizes control of the network. Additionally, that group or corporation then has to regulate the blockchain to keep spam transactions from making it unusable. It’s a bad situation that tends to deteriorate.
It’s also worth noting that, at certain times, under certain circumstances, it is entirely possible to submit a transaction with no transaction fees that is eventually placed in a block and accepted by the network. Especially on Litecoin.