Fee-less cryptocurrencies...Are they the future?

[tanjiran]

So far, fees have been charged because we have used the services provided. What does it mean if it's fee-less but the service isn't optimal? many problems? a lot of interference? the process is long?
I prefer a standard fee for convenience and speed of transactions, but if there is a low cost with maximum speed, of course, anyone really wants it.

[BitcoinPanther]

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche?

It supposed to be but sadly it won't prosper.  Maintenance would be the main factor for their possible demise.  Unless they created a platform where these cryptocurrency will be utilize to produce profit and make it to boom. 

I always love freebies, free transaction included, and i guess most of us love it too.

[coinporch]

Well,,, Fee is become one from many factors for a lot people to use the coins in daily transactions,,
So, i think the future of fee less cryptocurrencies will be bright mate

[Kemarit]

Obviously, we wanted to see this kind of crypto, absolutely 0 fees. However, we all know that this is a business and in order to survived, developers or the people behind a certain project will have some form on incentives, so I doubt that it will be the future. They can to get some kind of money for maintenance otherwise it will simply die. And for those coins, that don't have fees today, might include in the future. Maybe this is just marketing ploy for them to attract user based but eventually fees are going to be introduced, IMHO.

[retnoanjani]

Obviously, we wanted to see this kind of crypto, absolutely 0 fees. However, we all know that this is a business and in order to survived, developers or the people behind a certain project will have some form on incentives, so I doubt that it will be the future. They can to get some kind of money for maintenance otherwise it will simply die. And for those coins, that don't have fees today, might include in the future. Maybe this is just marketing ploy for them to attract user based but eventually fees are going to be introduced, IMHO.

You are right. This is a big business empire. We use services, so naturally, we are charged. Moreover, the fees charged are returned to us as users, we will get appropriate services according to the fees set. What does it mean if it's free but the service doesn't match expectations?

[NathanJB]

Obviously, we wanted to see this kind of crypto, absolutely 0 fees. However, we all know that this is a business and in order to survived, developers or the people behind a certain project will have some form on incentives, so I doubt that it will be the future. They can to get some kind of money for maintenance otherwise it will simply die. And for those coins, that don't have fees today, might include in the future. Maybe this is just marketing ploy for them to attract user based but eventually fees are going to be introduced, IMHO.

You are right. This is a big business empire. We use services, so naturally, we are charged. Moreover, the fees charged are returned to us as users, we will get appropriate services according to the fees set. What does it mean if it's free but the service doesn't match expectations?

I don't know if its possible. Perhaps they are not fee-dependent in their operations. There might be some other sources of income. But they could actually reduce fees to the minimum to be more realistic about it. A very low fee is actually more than enough to support their operation for as long as there are many users. That is in fact what the Lightning Network brings, very small to zero amount of fees.

[strickland]

In my opinion fee, less cryptocurrency will not do much if not for the people behind them, I guess if not for their proper launch in the market they will end up like another shit coin, I do believe that many individuals are attracted with their fee less cryptocurrency but how can they maintain such things if they will just offer lesser fee, I guess some will be curious on how they maintain such thing, and I think that lesser fee and not fee less is their implication on their coins, If they don't have fees at all they will just end up like a shit coin because they will have a difficult time maintaining it because of the financial needs a project to be maintain.

Less fee's doesn't mean that the coins are legit. There is a lot of projects that got dumped before.

[Patrix_1]

I cannot understand how a network can function without any fees? At least, they need funds to keep developing their product, do marketing, promotional offers and much more. Projects without any fee do not live long.

[spadormie]

It's possible to have a fee-less cryptocurrency. And right now it is happening. Some crypto like EOS doesn't have that much fee as of now. I just don't know if it is possible to make a fee-less on bitcoin. Although there is something we called LN or Lightning Network that made it possible but not fee-less it is less fee for transactions.

[Febo]

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

Bitcoin and other PoW cryptocurrencies have transaction fees with a reason.  Other "cryptocurrencies" or tokens have different structure and because of that other flaws. You pay no fees when using Secondlife Lindens. But would be so silly to compare Lindens with Bitcoin.

[ChrisPop]

Personally I have never used a fee-less cryptocurrency and I don't think they are viable. Proof-Of-Work and Proof-of-Stake algorithms have been the most successful in the market so far. And that's because the 'miners' aka block validators get incentivised in some form. Bitcoin is the best example for Proof-of-Work and Ethereum for PoS. To this present date I am not aware of any other algorithm that had even comparable results to these ones.

[ralle14]

It's possible to have a fee-less cryptocurrency. And right now it is happening. Some crypto like EOS doesn't have that much fee as of now. I just don't know if it is possible to make a fee-less on bitcoin. Although there is something we called LN or Lightning Network that made it possible but not fee-less it is less fee for transactions.

Bitcoin won't survive if transactions are fee less just imagine the amount of transaction being spammed if there are no fees. If Bitcoin becomes fee less it needs to be done somewhere else (offchain) which is possible already but the negative thing to offchain transactions is that it's only limited to one or two services and you're giving up decentralization.

[kidbounty]

no cost is good, but I don't think that's the right thing. blockchain costs money because that's how it works. no cost will only benefit momentarily, but for the long term it's not good. there will be many spam transactions in the network, if no cost. consequently the transaction takes a long time.

[joseyphil82]

Fee less projects is like telling developers to work for free, there is no such thing as free in this world, if you come across any project claiming their project is zero transaction fee you need to be extremely careful, i haven't seen any that is legit, its all lies

[Brunus]

Theoretically it is a good idea, but if there is really no expense, it becomes impossible to maintain the structure of the system: it is a service that has costs, and who offers it must be able to earn something, otherwise it fails.

[Abiky]

Using the same coins as example, we should realize by now that it's not the future of cryptocurrency market. They have been here for a while now and "enthusiasts" aren't interested mainly on the fee-less feature. Heck, they would even prefer xrp, doge, or ltc for moving their coins despite having minimal fees.

There doesn't seem to be much interest into fee-less cryptocurrencies, despite their benefits. Perhaps, it's because many crypto enthusiasts are not fond of zero incentives within a Blockchain network. Fee-less cryptocurrencies are good for the average person, but not for those looking to make a living out of them. This applies specifically to miners and delegates. Sometimes, I wonder if EOS' fee-less structure is sustainable for the long term. Block Producers (or delegates) are earning from transactions made on the EOS blockchain, but they could've earned more with fees. While Bitcoin has high fees, it has a sustainable model that will allow miners to continue supporting the blockchain for the foreseeable future.

Nonetheless, I guess that we'll have to see what happens over time since fee-less cryptocurrencies are just starting to blossom. There may only be a handful of cryptos like EOS, Steem, and Nano. But the list of fee-less cryptocurrencies will continue to expand if people show enough interest into them. Personally, I find fee-less cryptocurrencies extremely convenient for sending money worldwide for free. But their lack of mainstream adoption, will defeat the whole purpose in my own opinion.

[senin]

In order for a certain cryptocurrency to work and improve, for this  need to use a certain amount of money. If transactions are free, then other types of services must be paid. However, on the other hand, competition between cryptocurrencies will inevitably lead to a decrease in transaction payments. Over time, the optimal option will inevitably be chosen.

[cahbagus555]

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche?

Small transaction costs might be an option as an investment but in my opinion not the biggest factor. There are some coins that have small transaction costs but because they do not have a good product and are also not in demand by investors, the marketcap value is not too large

[Samayuki]

You have to give something to gain something back in return, developers have to earn back for the service they provide users wordwide so nothing is for free in this world, if a project is doing free work go back and recheck very well because that is impossible, and of they do free services like zero fee the project won't last long

[kushti]

It is totally unrealistic to store something on thousands of computers around the globe for free. Even more, current fees are not realistic in their structure, as you can put an object to the state of the system (UTXO set in Bitcoin / "World state" in Ethereum) forever for free. The problem could be solved with storage rent, as done in Ergo. A paper on composite fees: https://fc18.ifca.ai/bitcoin/papers/bitcoin18-final18.pdf