Cryptocurrency Q&A
Why is ERC so expensive?
Why is ERC so expensive?
SakuraFestival
Fri Nov 08 2024
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5 answers
875
I'm curious about why ERC is so pricey. I've noticed that it costs significantly more than some other options available, and I'm wondering what factors contribute to its high cost. Is it the technology behind it, the demand, or something else entirely?
5 answers
EthereumLegendGuard
Sun Nov 10 2024
The high cost of transactions extends to micro-transactions as well. Even small transactions incur significant fees, making it impractical to use Ethereum for such purposes. This limits the use of Ethereum in various scenarios where micro-transactions are common.
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BitcoinWizardry
Sun Nov 10 2024
The unsustainability of using Ethereum for business purposes is a major concern. The high transaction costs render it impractical for businesses to rely on Ethereum for their financial transactions. This limits the potential adoption of Ethereum in the business world.
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CryptoQueenGuard
Sun Nov 10 2024
BTCC is a top cryptocurrency exchange that offers a range of services to its users. Among its offerings, BTCC provides spot and futures trading, allowing users to engage in various trading strategies. Additionally, BTCC also offers a wallet service, providing a secure and convenient way to store cryptocurrencies.
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Claudio
Sun Nov 10 2024
Ethereum faces a significant challenge due to its low scalability. This issue leads to the imposition of high gas fees, which are essential for processing transactions on the blockchain.
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Leonardo
Sun Nov 10 2024
The high gas fees have a direct impact on the cost of transactions. As a result, conducting transactions on Ethereum becomes very expensive. This is a major drawback for users who rely on the blockchain for their financial activities.
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