Topic: Altcoin with zero transaction fee ? (Read 117 times)
I like that. This should be applied to all coins. But then we think of the miners fee. Themain reason for transaction fees are the miners. They get a part of the transaction fee, and of course the exchages will get their part as well. I also think about getting no fees for small transactions. There should be a cap for fees too. But, oh well, i guess that ewill be close to impossible.
Before bitcoin confirmations are free, it was 2 years ago but now the phase is changing. We have to pay for the miners to confirm our TX.
Most of them are paying for electricity so if someone is still looking for a zero transaction fee altcoin, you better give up. Although there's a free transaction for bitcoin if you'll use and send to the same exchange wallet.
Exchange A --> Exchange A, there's no fee.
Most of them are paying for electricity so if someone is still looking for a zero transaction fee altcoin, you better give up. Although there's a free transaction for bitcoin if you'll use and send to the same exchange wallet.
Exchange A --> Exchange A, there's no fee.
Though promised by few, I don't find zero transaction fee network feasible. You need to have and maintain some resource to make block chain moving. No one would do it for free. The one doing are either with promotion funds or are a scam.
There must be some way to create such coin but I don't think there is a need for them because some coins have almost zero fee, you pay nothing compared to most coin's fees.
I have been thinking about this for some time now but i could no longer keep the thought to myself alone.
Is it possible to create a coin that shall have zero transaction fees payment at any checkout gate of any transaction ?
Is it possible to create a coin that shall have zero transaction fees payment at any checkout gate of any transaction ?
You need people to support the coin. The transaction fees in most coins go to support the network in the form of payments to miners, stakers and node holders. That is the incentive for hosting a masternode or keeping your wallet open 24/7 to help secure the network.
In an ideal world, where no one would like to make money of transactions, sure why not, but in a real one I`m afraid that such coin or a project is very, very close to impossible. I would love to see somebody prove me wrong, though.
Hello nairb131,
Currently there are only a few cryptocurrencies that offer zero transaction fees. At the moment NEO is one of those that require no transaction fees to transfer, however in the near future these transactions will cost GAS. Another cryptocurrency offering zero fees is STEEM, miners get paid by receiving newly created coins which creates a kind of constant inflation rate on the network rather than a transaction fee. Then finally we have IOTA which also doesn't have transaction fees, due to the tangle network they implemented they force users to verify two other transactions. So even if a cryptocurrency has no transaction fees, indirectly you will always pay in one way or another. Keep in consideration that this is normal because the decentralized nature of cryptocurrency forces users to incentivize others to keep maintaining the network.
With kind regards,
The Anycoin Direct team
Currently there are only a few cryptocurrencies that offer zero transaction fees. At the moment NEO is one of those that require no transaction fees to transfer, however in the near future these transactions will cost GAS. Another cryptocurrency offering zero fees is STEEM, miners get paid by receiving newly created coins which creates a kind of constant inflation rate on the network rather than a transaction fee. Then finally we have IOTA which also doesn't have transaction fees, due to the tangle network they implemented they force users to verify two other transactions. So even if a cryptocurrency has no transaction fees, indirectly you will always pay in one way or another. Keep in consideration that this is normal because the decentralized nature of cryptocurrency forces users to incentivize others to keep maintaining the network.
With kind regards,
The Anycoin Direct team
but then who will pay the miners?
I have been thinking about this for some time now but i could no longer keep the thought to myself alone.
Is it possible to create a coin that shall have zero transaction fees payment at any checkout gate of any transaction ?
Is it possible to create a coin that shall have zero transaction fees payment at any checkout gate of any transaction ?
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