What are blockchain fees?

Blockchain fees are paid by users every time they send crypto or interact with a blockchain. They range in cost depending on the platform and congestion of a network When sending cryptocurrencies from an exchange or a wallet users will often be charged a ‘ blockchain fee’, which is also known as a ‘network fee’.

What is blockchain and how does it work?

Put simply, blockchain is data that’s stored and maintained by a decentralized network of computers. This is trustless technology which can radically change the world as we know it, redefining how we deal with data and transfer value. As an... Blockchain has become one of the most often mentioned technologies in the past few years.

What are the different types of blockchains?

As the industry continues to develop, more blockchain ecosystems like Solana, Tron, Cardano and Fantom get released. These newer blockchains boast much cheaper fees and a higher amount of transactions per second, although concerns have been raised over the centralised nature of these blockchains compared to the likes of Bitcoin and Ethereum.

Is blockchain mature enough for the mainstream?

Many other blockchains are much faster, even able to process thousands of transactions per second. Blockchain isn’t mature enough for the mainstream. Many enterprises are already using blockchain—Forbes has an annual Blockchain 50 list, where businesses with a revenue of more than USD 1 billion per year are shown.