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19 June 2020

More than 99% of all blockchain fees are paid to Bitcoin and Ethereum miners

Fees are one of the least agreed upon topics in the world of public blockchains. Ask one person and they’ll tell you high fees are desirable because they signal strong demand for blockspace. Ask another person and they’ll tell you low fees are desirable because they provide users with greater access to blockspace.

The debate is nuanced and deserves a deeper discussion. But for now one thing is clear. Between lack of demand for blockspace and higher blockspace capacity, all blockchains outside Bitcoin and Ethereum generate very little fees for miners.

More than 99% of all blockchain fees are paid solely to Bitcoin and Ethereum miners. Fees on other public blockchains aren’t even visible on a chart with Bitcoin and Ethereum. Source: Messari Portal

Dogecoin, the beloved meme coin, generates more fees than nearly every public blockchain outside Bitcoin and Ethereum. Daily fees on these chains rarely ever rise higher than $1,000. Source: Messari Portal

For now, most blockchains are virtually free to use.

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