PIVX blog: Finding that good FEE-ling

in #cryptocurrency5 years ago


Recently our fellow PIVian Robert DeVoe wrote a blogpost in which he talks about something fundamental in the crypto sphere: transaction fees.

Why transaction fees? Robert explains: "The other day I was thinking about what it would take for widespread crypto adoption to occur. One of the hurdles that would need to be jumped is getting people to understand the necessity of transaction fees. To the uninitiated, they could seem like a greedy cash grab from some invisible middleman trying to get a piece of the action. The truth is, transaction fees are a necessary evil. But I think the fee model PIVX uses is as close to the ideal as we’re going to get."

In the blogpost Robert explains why transaction fees exist and he also discusses how Bitcoin and Ethereum for example go about the transaction fees and he addresses a problem that quickly occurs when the model contains a bidding concept. Finally he explains the PIVX model and why it is an ideal solution.

If you want to learn more about why transaction fees exist and what the PIVX model is you can read the whole blogpost by clicking on this link.

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To ALL PIVX community members, feel free to RESTEEM this article! Let’s keep spreading the word of our amazing community focused privacy centric global cryptocurrency.

Keep it purple people!