Hi Team, all my transaction fees have been around 30-60cents. Although this is better than ethereum are we able to get this down to 5-10cents? Especially with XPOS low fees seem incredibly important as it’s used day to day. Speed seems good to me so far basically under 10-5seconds every time.
I would also like a clear description of how the gas fee is calculated and what actually happens to the gas itself.
Is it burned? is the project technically deflationary because there is a dead address collecting each of these fees? Is the rate determined by the # of active validators? many unknown questions currently unless i am just uneducated.
How is the gas rate determined and is it USD paired or coin paired? If its the latter then that is worrysome if the FX price reaches significantly higher levels as it would be similar prices to Ether.
read the hash out posts it explains where fee’s go
have not see a fee over 20c myself
Well, it depends on the transaction type, each transaction has a different level of complexity, therefore a different fee is needed to power it through the network.
10 cents is certainly possible, I’ve found this in the explorer: Function X Explorer, but it’s a simple transfer FX->FX, so it’s one of the least complex transactions.