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Author Topic: How do altcoins pay for gas?  (Read 56 times)
Platinummember (OP)
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January 31, 2018, 04:47:33 PM
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I'm seeing a lot of ICO's and they all have blockchain functionality in their plans. But the execution of a contract costs gas. If the users trade tokens, the gas is paid from the transaction cost. But if they simply store data in the blockchain, who pays the gas? Do they pay this from the money they raise in the ICO?
mpufatzis
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February 01, 2018, 08:31:46 AM
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Gas is always paid by the people making the transaction. You can have a specific address full of tokens, with 0 gas. Someone sent them to you, he paid the gas for the transaction. If you want to send some of these tokens to someone, then you have to load this address with gas. If you don't have any, you have to buy some from an exchange.
I have heard for 0 gas transactions in this forum, but if they exist, I suppose you have to wait for days for the confirmation.

I'm seeing a lot of ICO's and they all have blockchain functionality in their plans. But the execution of a contract costs gas. If the users trade tokens, the gas is paid from the transaction cost. But if they simply store data in the blockchain, who pays the gas? Do they pay this from the money they raise in the ICO?
Platinummember (OP)
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February 01, 2018, 01:24:29 PM
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Gas is always paid by the people making the transaction.

Thnx!

But is just storing data a transaction? Like ppl exchanging tokens?

carVertical for example:
"carVertical is a blockchain-based solution that gathers as much information as possible about cars’ history from different sources [...] and puts it into blockchain registry." Who pays for storing this data in the blockchain?
cryptopusa
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February 01, 2018, 01:39:20 PM
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Gas is always paid by the people making the transaction.

Thnx!

But is just storing data a transaction? Like ppl exchanging tokens?

carVertical for example:
"carVertical is a blockchain-based solution that gathers as much information as possible about cars’ history from different sources [...] and puts it into blockchain registry." Who pays for storing this data in the blockchain?
As far as i know ,gas would be act as gas literally like what you are using with your car it means without using gas you cannot transfer your NEO,or any neo based coin to other address.You can aquire free gas by just holding your neo coins in your NEO wallets,so if you have more NEO you will get more gas,thats the concept of gas in our transactions.

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