I have a question about API settxfee.

Question

Hello, Multichain developers

native-currency-multiple is 100000000 and minimum-relay-fee is 1000000 in params.dat.

Therefore the minimum fee is  0.01.

I found that the fee is less than 0.01 if i set a value less than 0.01 using settxfee. (ex: 0.00372)

https://www.multichain.com/qa/6803/tx-order-in-a-block-and-about-settxfee?show=6803#q6803

According to the answer here, There is no relation between tx order and fee.

 

It seems to be a problem that API can set fee less than the minimum fee.

The API that can set fee less than the minimum fee seems to be a problem.

Is there any usage of settxfee that I do not know about?

Or how can i solve this problem?

Please provide feedback.

Thank you.

Answer 1

The minimum fee is denominated in units per kilobyte of transaction, not a hard minimum. So in the scenario you give, 0.00372 is a correct fee for a 372 byte transaction.

Comments

Thank you for fast feedback.

What is the exact purpose of the minimum fee (relayfee)?

---

It allows you to create scarcity for transactions, which is an important way to prevent spam (many pointless transactions which fill up blocks) if you're running a network in which spam is a threat.