For us on the HIVE blockchain, we are used to zero transaction fees, moving HIVE around here costs nothing and fast. Having to do transaction on the Ethereum blockchain with the increasing high transaction fees is becoming alarming.The other day I had to move 70 USDT and it cost me $8 at the current HIVE price that is 44 HIVE right there, which is not so cool to part with.
Knowing the crypto/blockchain space, I love the fact that it doesn't take long before some genius mind comes up with a solution or alternate plan.
While Ethereum have been the center of the DeFi craze, transaction fees are going to eventually cause investors and devs to seek other chains for cheaper transactions fees.
For us here on HIVE we know HIVE can be a good host for DeFi but for some unknown reason HIVE being ignored.
So what other options are out there or being worked on?
Gas prices being as high as they are, obviously they are this high because people are willing to pay these prices. And those people are mostly whales and people who are trading at very high volume…but eventually, they’re going to be other places that open up other venues
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Other avenues are definitely going to open up, this space is creative and very innovative, we are almost guaranteed not to remain stagnant too long if we at all we ever remain stagnant.
There will be some second place with some kind of bridge, whether it be a layer to whether it be an interoperability solution like Polkadot or Cosmos, or whether it be another layer one.
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DeFi is still new, it promises to be around for quite a while going into the future, making it a success and cheaper to do transactions will be worked up continuously.
Hopefully HIVE will be amongst the other chain hosting DeFi to investors out there in the future.
We owe it to ourselves to make Hive great
Image by @doze