Solana-Style Transaction Fees, on Ethereum? Yes Please.

TL;DR

Celo is on a path to turning into the ‘Visa/Mastercard’ of stablecoin funds, making them low cost, accessible, and hands-off (throughout all main chains).

Full Story

$USDT is launching on Celo — which can really feel like déjà vu, trigger $USDC launched there simply two weeks in the past.

Right here’s why we’re weirdly intrigued by one thing as boring as stablecoin integrations:

It appears like Celo is making an attempt to turn into the Visa (or Mastercard) of stablecoin funds — i.e. low cost, accessible, and hands-off.

Celo is designed particularly for quick and low-cost funds on Ethereum (them and each different layer 2 on the market).

So many of us are engaged on it, trigger proper now, when you purchase one thing utilizing $USDT by way of the principle Ethereum community – you’re going to be paying a legal quantity of transaction charges.

Suppose: anyplace between $50 and $500.

When you did the identical factor by way of Celo, you’d pay round $0.001 for that very same transaction, no matter ETH’s worth – actually, it’ll do it for you throughout any $USDT pleasant blockchain (like Tron, Solana, Avalanche and Omni).

“Cool, so, is that this gonna have an effect on me??” — you, in all probability.

Yeah, it probs will.

When you use crypto, you and Celo (or one thing prefer it) will finally cross paths.

Trigger if crypto goes to catch on as a common fee technique — the commonest kind can be some sort of stablecoin.

A community like Celo primarily says to shoppers:

“We don’t care what sort of stablecoin you’re holding, or which blockchain you’re making an attempt to ship it throughout — we’ll make sure that it will get to the place it must go, regardless.”

(Which is a typical in fiat debit/credit score funds, that crypto is but to satisfy).

Noice!