question on transaction fees

+2 votes
I am setting up a chain where I want the transaction fee to be fixed at 1 unit, and we will be selling those units for usage on the platform. So is it ok to set the following?:

minimum-per-output = 1              
maximum-per-output = 1
minimum-relay-fee = 1

If I wanted the transaction fees to be burned, is there a way to do that?..
asked Sep 5, 2017 by mark

1 Answer

0 votes

You wouldn't want to set the minimum-per-output and maximum-per-output to 1 because those aren't related to fees, but rather to how much native currency can be included in a UTXO.

Setting minimum-relay-fee=1 should mean that every transaction requires a fee of at least this much (per kilobyte of transaction or part thereof) but there is an issue in MultiChain 1.0 that doesn't enforce this at the network level. This will be fixed in version 1.0.1 to be released shortly.

However there's currently no way to enforce burning of the fee – instead, you would have to trust your block validators to do that with any fees they collected.

answered Sep 5, 2017 by MultiChain