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Gas fee

Overview​

When users send transactions, deploy contracts, or call contracts, they will consume a small amount of TTOS, which we call Gas fees. Gas fees are not given to validators or any transformers network members but are 100% destroyed. The reason for setting Gas fees is to add a little cost to user transactions. Transaction costs aim to promote the economic development of Transformer more effectively.

The reason for setting gas fees​

Some benefits of transaction costs to economic growth are described below.

  • Transaction costs effectively reduce spam in the Transformers network.

  • Users will contribute to the economic deflation of TTOS for a long time. TTOS will destroy 100% of the gas fees according to the agreement, and the transaction fees paid by users in high-frequency interaction will be destroyed in full, which provides excellent help to the economic deflation of Transformers.

  • The transaction fees paid by users in the Transformers network are consistent within a given time. The transaction costs will be calculated according to the account's UTXO occupation, network and storage resources. In the case of network congestion, the transaction fees paid by the users are still calculated in the above way.All transactions will be processed in chronological order.

Calculation of Gas​

To prevent inconsistencies in fuel costs due to local block leaks and height inconsistencies, fuel costs are locally calculated. The gas calculation formula is based on the bytestream size of the current transaction and calculates the exact gas cost according to the byte traffic size.