[siftrics]

In the past 24 hours, close to 1 trillion dollars worth of payments have been settled on blockchains.

They eschew the need for intermediaries, like the numerous banks that recently imploded and locked depositors' funds away for who knows how long.

They eschew credit risk. Creditors cannot take your funds on an L1, even if they maliciously try.

[mise_en_place]

Yea that’s fair but look what happened to BTC when BRC-20 was implemented. Similar problem on ETH L1 chain, the txn fee is very high. Imagine if Visa had those fees, no business in their right mind would use them

[siftrics]

There are chains that don't have such fees.

Also, a wire transfer fee on a million bucks is like $20-$40. That's pretty comparable to ETH and BTC fees.