Watch your back, fiat. Ethereum co-founder VitalikButerin has argued that crypto payments will once again “make sense,” as transaction costs will soon fall to fractions of a cent due to layer-2 rollups.
for Ethereum, which has worked to get the size and cost of data in blockchain transactions down by introducing zero byte compression:
Despite primarily functioning as a speculative store of value, Buterin emphasized the key use case of Bitcoin presented in its white paper from 2008 was to provide a “peer-to-peer electronic cash system” that was cheaper than traditional payment methods. “It’s a vision that has been, I think, forgotten a little bit and I think one of the reasons why it has been forgotten is basically because it got priced out of the market,” he said.once again as scaling solutions — such as the Lightning Network in the case of BTC — gradually bring the costs down to fractions of a cent.Buterin outlined a couple of different areas that cheap crypto transactions will be particularly important.
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