Low-Cost Transactions refer to financial or data transfers executed with minimal associated fees. In blockchain systems, these costs, known as gas fees, are paid to network validators for processing and securing transactions. Achieving low transaction costs is a primary goal for many blockchain scaling solutions. It makes micro-transactions and frequent interactions economically viable for users.
Context
The pursuit of Low-Cost Transactions is a critical driver for the development of Layer Two networks and other scaling technologies in the blockchain space. High transaction fees on Layer One networks have limited the accessibility and utility of decentralized applications for many users. Innovations in this area aim to democratize access to decentralized services and enable new economic models.
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