alt Hacker NewsSingle digit cents is not a large fee, but blockchain fees are dynamic. And the more traffic, the more expensive. I would not appreciate if that 2.6 cents suddenly became $2.60. Also the maximum number of transactions for Bitcoin (not sure etherium) is about 10/s. Processors like Visa and MasterCard process thousands of transactions per second. And if every article read is another transaction that would need at least 1-2 orders of magnitude more transactions. The way I see it, blockchain is a broken model for micro payments. If I am missing something, please let me know.
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Yes you missed something: He talked about L2, which is a general term for "layer 2" networks that work on top of the blockchain.
For example for Bitcoin there's the Lightning network as L2, where you do one transaction to open the channel, and one to close it, and channels can remain open for months. Payments are routed through a network of channels, so you only need one or a few channels to other nodes and can reach all nodes in the network.
The transactions are much cheaper in this network precisely because they're not on chain, but it's still secure because each L2 transaction leads to a signed (but not published) blockchain transaction that each party of the channel can choose to publish at any time (and close the channel).
There's a bit more to it, and I recommend anyone who isn't aware of L2 networks to look into it.
Yes. Solana has been sub-cent for it's entire lifespan. So have other blockchains. They're not going to ever be above a cent by design.