March 29, 2020, 02:31:39 PM

Author Topic: Lowering the fee for rpc transactions ?  (Read 1209 times)

0 Members and 1 Guest are viewing this topic.

Offline bustingbuster

  • Gold Miner
  • ****
  • Posts: 115
  • Karma: +6/-0
    • View Profile
Lowering the fee for rpc transactions ?
« on: November 30, 2013, 11:33:15 AM »
Currently i am developing a marketplace for GoldCoins, Will be launched in 3-4 days, And i am also developing a online wallet like coinbase but for GLD. Here comes a problem, To create a online wallet i need to use rpc commands. But the rpc command "sendfrom" has a fee of 0.1GLD per transaction.

The point is why would anyone use a online wallet to loose 0.1GLD per every transaction they send ? Which makes Both the online wallet and GLD community loose some users. So What do you guys suggest about decreasing this fee ?

-Thanks-
Goldcoin address :
DzcjnbTgQh3BbsM9Bv3LDF21qNaWuJrNYi

Offline akumaburn

  • Lead Developer
  • DevTeam
  • *****
  • Posts: 320
  • Karma: +44/-0
    • View Profile
Re: Lowering the fee for rpc transactions ?
« Reply #1 on: November 30, 2013, 12:02:28 PM »
Currently the recommended minimum transaction fee to send from the client is 0.1 GLD.

This is equivalent to 7/10ths of a cent when compared to Bitcoin's 12 cent fee (mintxfee: 0.0001 (BTC)).

There are plans to lower this fee when GoldCoin's market price reaches ~50 cents.

It is possible to send a transaction with no fees or less fees, but beware that they may end up on the bottom of miner's TODO list for a while.

As with Bitcoin there is a free transaction area where if the transaction size of a block is less than 10Kbytes then free transactions (zero fees) are permitted.

With regards to your marketplace,

I recommend you store the values securely yourself in your database and only execute transactions whenever someone wishes to withdraw.
Want to donate to the Development Team?

GLD:
DztaVPtUd2M5TwfifBUaq5bLrAscYeMbyd

Offline bustingbuster

  • Gold Miner
  • ****
  • Posts: 115
  • Karma: +6/-0
    • View Profile
Re: Lowering the fee for rpc transactions ?
« Reply #2 on: November 30, 2013, 12:13:48 PM »
Ok thanks for your reply. Thanks for the suggestion to keep the values in my dbase. Though the transactions can be executed by "move" to move the coins between the accounts to prevent fees.

-Thanks-
Goldcoin address :
DzcjnbTgQh3BbsM9Bv3LDF21qNaWuJrNYi