$1.36 1.99%
ADA · 5w

How can i vote to lower transactionfees on Cardano?

Hi longterm hodler and software developer here. I always hear that we are able to vote, to get transactionfees lowered. Why has this never happened? In my opinion a 0.17 ADA fee is way to high to be competitive. Algorand's fees are under 0.001$ and Ethereum has on the low end today between 0.04$ and 0.08$. So currently the competition with smartcontracts have lower fees than Cardano without smartcontracts. This should be changed as soon as possible and not just be answered with we "could" vote on it. This should be done before smartcontracts because a big reason for developers to switch to ADA from ETH is the lower cost. In my opinion blockchains of the future should not cost more than a cent in transactioncosts. Otherwise it is not significantly better than most banks in the first world. (Yes i know that cardano target 3rd world countries first, but must users today are still from the first world) I also know that the price fluctuates alot, but that is still not a reason to change only one parameter (transactioncost) frequently. That is what it was designed for, right? This should be a benchmark on how fast and good the votingsystem works. Hope this criticism is viewed as criticism and not as hate.
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