Transaction fees are affected by the network activities of the blockchain and market decisions. Excessive fees hinder usability, and low fees cause security issues. However, fixing fees create a problem that cannot be prioritized in network load situations.
To address this problem, Semita Application Chain introduces Elastic Fee to flexibly apply transaction fees to the external environment.
Elastic Fee works to lower the barrier to initial entry into Application Chain by applying differential and flexible fees, and to enable flexible responses to various situations that may arise.
Differential Fee: Transactions on Application Chain are divided into special transactions and user transactions. Special transaction is an essential transaction for using the services of Application Chain, and the system does not charge a fee to the user; the system pays the fee instead. User transactions refer to all transactions minus special transactions, and different fees are charged for each user through membership that will be provided later. The execution of these differential fees is done transparently and safely through smart contracts.
Semita Application chain allows enterprise customers to establish their own customized Elastic Gas fee policy, thereby applying fees flexibly. The Elastic Fee policy will play a role in aligning fees that may be too high or too low to the appropriate level, thereby ensuring usability and addressing security issues.
All validators included in the validator set will be rewarded with gas fees from Semita Application chain. The gas fee will be sent to the registered validator wallet address.
Updated 7 months ago