You are viewing a single comment's thread from:

RE: What should we do about all this DeFi stuff?

in Project HOPE7 months ago

Hello @achim03
The truth is that I understand something about DeFi, and the main thing is that, as you name it, the banks are trying to get out of the way, using the smart contracts as intermediaries.
However, although I have read something about it, from an operational point of view I don't fully understand it.
Another thing that keeps me on the sidelines is the issue of operating costs, the price of the GAS is through the roof, I don't think that for now it is something for the average person, either because of costs or because of the ease of understanding it.

Sort:  

I completely agree with you. I have followed some tutorials how to use Whive on Uniswap and it required about 7 steps to set it up and then the whole thing cost 30$ in transaction fees... This simply is not ready for everybody's use. GAS prices are simply astronomique and because of the DeFi boom they won't come down soon. This has actually a negative effect on all the etherium blockchain. Nobody can pay the gas fees anymore and people might look for other platforms...

Thanks a lot for your comment!