I just read that data storage on most blockchain networks is much, much more expensive than traditional online storage systems. It was mentioned in a recent post that in May 2021 the cost to store one megabyte of data directly on Ethereum was approximately 21.5 Ether (ETH). And according to gas prices — at that time, this worked out to about $56,000 USD!
The alarming and nagging thing about this pricing for me - as that cryptography and blockchain was "to be" the new/next web, Web 3.0.
How can this kind of "cost" in anyway be looked upon as acceptable for our "new Web 3.0"?
I already have an avergence to the term "gas" (see previous post: Why the term "gas" ) / now a double wammy - it's freaking expensive!
I know the industry is providing level 2 solutions to address this ethereum gas cost issue - but it seems the fundamental level 1 design and infrastructure of ethereum needs an overhaul (on the infrastructure cost side).
You agree?
Cheers!
CTN
https://www.publish0x.com/?a=8mepQyBXaM
