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sip-34.md

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sip title description author status Last Call type category requires created
34
Round minimum fee to 2 digits
Makes the fee calculation more human friendly
frank_the_tank, jjos
Final
2022-02-18
Standard
Core
SIP-31
2022-02-01

Abstract

This SIP will adjust the minimum fee to 0.01 Signa from 0.00735 Signa.

Motivation

Signum currently has a minimum fee of 0.00735 Signa which is the basis for calculating the cost per 176bytes per transaction see SIP-31 New fee framework and is used as a multiplicator for some transaction types.

With this SIP we like to simplify the minimum fee to 0.01 Signa to make it simpler to use/remember and also make it much easier to calculate (for humans) the costs of a transaction.

Specification

The FEE_QUANT must be set to 0.01 SIGNA The Transactions will be multiples of the FEE_QUANT, defined by SIP-31. The defined factors for Alias and Token-Creation in SIP-31 will be kept. The current parameters for SmartContracts (StepFee, Cost_per_page) see SIP-20 will not be touched.

Backwards Compatibility

This is a hard forking change, thus breaking compatibility with old fully-validating nodes. It should not be deployed without widespread consensus.

Copyright

Copyright and related rights waived via CC0.