Why transaction fees are important.
Transaction fees help to secure the network and protect its integrity. Validating transactions requires resources, including time and computational power. Without validators, malicious actors could overrun the network for free and perform unnecessary or fraudulent transactions, hence congesting the network. Blockchain congestion is common with high-level networks like Ethereum—a reason we have Ethereum Killers like Avalanche, Solana, Cardano, etc. today.
However, the rise of Ethereum scaling networks like Binance Smart Chain, Polygon, and Cosmos has given Ethereum an edge to continue distributing scalable contracts at the highest level. The Ethereum Network congestion has also caused high gas fees, making it difficult for low-budget developers or users to perform transactions without worrying about the fees.
No one wants to pay high gas fees caused by the activities of malicious actors; rather, every action on the network helps to advance the frontiers of Web3 or DeFi. This is why there is a cost for every activity on the network to discourage malicious actors from congesting or halting the network for unnecessary reasons.
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