Remember the situation when a teenager found a way for the US government to save $400 million by simply changing the font? This story got me thinking, over which the Publish0x team had delicate dilemmas. They often complain about high transaction prices. Because of this, they have changed the site's payout system and introduced a number of new features. I'd like to suggest my idea for lowering costs.
Reviewing recent transactions from the Publish0x site in just a few weeks, I saw that the Publish0x team spent over $3,000 in ETH in commissions. This is a gigantic amount if we look at the fact that at least transactions on Hive don't cost a cent. At the moment of writing this post, the average amount of commissions in Ethereum is $6. In the case of ERC-20 transfers or exchanges on Uniswap, the prices reach tens of dollars! Is there anyone who has ever wanted to send a few dollars to a colleague in need? So why is 50% of the total amount a commission? This is a nightmare for small users who cannot use the network because of this.
On the Binance Smart Chain network, transactions range in price from a few cents to a dollar maximum. I have never paid say five dollars for any transaction on BSC. And I paid on the Ethereum network probably $70 one time. If I wanted to send my funds from BSC to the exchange now I would pay $0.054 per transaction. After all, that's nothing! We leave more money by exchanging tokens or when buying Bitcoin a few seconds later because the price has already decreased.
Hence my suggestion to the Publish0x team that they consider migrating to Binance Smart Chain. Of course the blocker here is the current tokens. FARM or AMPL is not on Binance Smart Chain but Ethereum in the form of the BEP-20 token exists. Rome was not built in an instant, you can first switch with just one token and make transfers in the BSC environment. Withdrawals are done with a smart contract so I guess you wouldn't need to build a new architecture or something to withdraw on a new blockchain, just the desire. Then the minimum payout cost would be much lower. It would be worth it to everyone.
I leave the card blank. I encourage you to discuss and especially the Publish0x team to lean into this topic. Think how many benefits we can get through blockchain, which is several times cheaper to use.
Below you will find useful sites from which you can learn more about cryptocurrencies and make money from them. I will be very grateful if you use my link.
Crypto exchanges
Social networks
PeakD
Publish0x
Odysee (formally LBRY)
