This milestone highlights progress in making crypto transactions accessible and affordable for many.
The Base network’s achievement signifies blockchain’s evolving ability to enable cost-effective and efficient global financial transactions.
Base Network: Pioneering Affordable Global Transactions
The drop in transaction fees to below a cent meets the rising need for affordable crypto payments. In the crypto era, fast, low-cost transactions are crucial for the global economy. The Base network’s success moves us towards the goal of sending USDC at just 1¢ in a second, an aim that’s becoming achievable.
Yesterday, we hit a historical milestone.
For the 1st time, transaction fees on @base dropped below 1¢.
Obviously as more & more people transact, fees will fluctuate.But this is what progress looks like.
Sending USDC is getting cheaper & cheaper—towards our goal of 1 sec. 1¢. pic.twitter.com/F5pwUjKnq1
— Coinbase 🛡️ (@coinbase) March 14, 2024
The Base network is setting new standards for what is possible in terms of transaction efficiency and cost-effectiveness. However, as more people use the network, fees may fluctuate. Such variations are expected and represent the dynamic nature of blockchains as they adapt to changing usage patterns and network demands.
More About Transactions Fees on Base
Despite potential fluctuations, the trend towards lower fees suggests a future where sending digital currencies could be as easy and cheap as texting. This progress is not only crucial for the widespread adoption of cryptos but also for the realization of a truly inclusive digital economy.
By lowering financial barriers, the Base network enables wider global economic participation, using blockchain to boost financial inclusion.
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