Feb 23, 2022
Will FREE Gas Fee Transactions Have the Capacity to Transform the Web Sphere? Will It Revolutionize Web3?
We have witnessed the crypto world booming with innovative platforms. But consumers still struggle with hefty gas fees. It is being a number one
hindrance for many newbies in the Web3 sphere. It is estimated that after Web3 goes mainstream, gas fees will turn cheap and easy to afford.
The Web3 will also provide gas-less options on multiple platforms. Until now the gas fees are expensive and prevent a large population of people to have smooth transactions. Experts suggest multiple solutions to limit these skyrocketing prices, making them accessible for people.
Providing Enough Scalability
Scalability plays an important role in setting gas fees on platforms. And building an extra layer as Layer 1 for blockchain will create scalability options. Other than this, adapting layer-2 scaling technology will improve scalability and efficiency.
Layer-2 operates on math and cryptography to process secure transactions, in simple words, users will be able to have multiple transactions at the cost of one. Currently, there are a variety of layer-2 protocols, enabling blockchains like Ethereum to have fewer fees. Each one of them has its pros and cons.
Gas Fees, A History?
Gas-fees will be history, once gasless meta-transactions conquer the crypto sphere. Meta-Transactions allow its users to have the luxury of transactions on a public blockchain. Transactions on public blockchain will be free of cost……..
