Antonopoulos: Transactions Fees Help The Crypto Industry Develop Quality Wallets on Time
Andreas Antonopoulos, a famous Bitcoin advocate who wrote some important books about Bitcoin, has recently been talking about the importance of cryptocurrency fees. While many are around spreading misinformation about the market, Antonopoulos is often teaching people how the industry works.
Now, he has decided to start a Massive Open Online Course (MOOC) in which he showcased some alternative uses for the blockchain technology and talked about how the popular technology works, as well as explaining its main functionalities.
The seminar also had a Q&A session, so he took his time to answer questions from the public. One of the viewers then asked about the idea of imposing “gas fees” on wallet transactions as a way to fund the developers.
Antonopoulos Defends Gas Fees For Transactions
His answer was that the idea, which was created by Vitalik Buterin, the co-founder of the Ethereum blockchain, was to propose this fee to the ETH community in order to fund the development of wallets. The fees would not be an imposition, only a slight voluntary fee that would help the devs. Other wallets, he explained, give the users the option to make small fee donations.
Why does it? Because you have to pay in order to get quality, this is why. Antonopoulos explained that most wallets were available for free and that some of them relied on advertising in order to survive.
With the help of these fees, people would certainly be able to develop better wallets, as they often struggle with money. It would not mean much to users, but it would mean a lot to the developers as they could actually upgrade their products.