Minimum Realy Fees: Transaction too large for fee policy

+3 votes
I have set up a Blockchain with native currency, and I want to have a minimum fee for the transactions. I am setting the minrelayfees=100000000 (1 native coin), but now it gives me an error "Transaction too large for fee policy" but when I keep the minrelayfees=1000000 (0.01 native coin) than the transactions are broadcasted successfully. How should I set up minimum fees?
asked Feb 20, 2018 by Mayank

1 Answer

+1 vote

By default, MultiChain (like Bitcoin Core) won't send transactions with a free that is greater than 0.1 of a native currency (display) unit. You can change this limit using the maxtxfee runtime parameter, which is explained if you run multichaind with no parameters.

answered Feb 21, 2018 by MultiChain

Is there a way to remove this maxtxfee limit ?

I have set maxtxfee=9999999999 in multichain.conf - the maximum allowed else multichaind wont start - but still, trying to save a file onchain or offchain over 3.6MB get me "The transaction was rejected: 16: Insane fees".

I feel the fee of 36 native coin fair for a 3.6MB file.

From my test, removing the minimum-offchain-fee allow to upload a file offchain way over that, but this is not the goal in my implementation.

Please advise,
Thanks for you time.
This error is caused by the transaction fee being more than 10000x the value of the minrelaytxfee runtime parameter, so you should also set that to a higher value.