Solana Payments: Small Transactions Go Mainstream
The low cost of transactions on Solana is making it an attractive option for everyday payments. According to Solana's developer documentation, sending money to a friend costs around $0.0005, while equivalent transactions on Ethereum can range from $1 to over $50.
This difference in fees is what changes behavior, as people are more likely to use Solana for small transactions. The fixed base fee of 0.000005 SOL per signature helps keep costs low, and adding priority fees during busy moments doesn't significantly increase the cost.
The predictable fee on Solana means that users stop mentally rounding up before sending payments, making it a more casual experience. In fact, institutions like Visa and Western Union are now using Solana for settlement, with USDC being settled on-chain around the clock.