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Author Topic: Free of charge transactions in blockchain  (Read 330 times)
derby911
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December 04, 2017, 06:35:37 PM
 #1

Hello,

Is there blockchain crypto-currency protocols which allows to implement a free of charge transaction between users?
Is it possible or not and why?

I'm not very experienced in blockchain technology and just looking for a professional opinion.

Thank you!
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December 04, 2017, 06:56:29 PM
 #2

There is IOTA, but I think they have several different technical problems  Huh

Furthermore, IOTA is not blockchain based.

have a look at it here: https://www.cryptocompare.com/coins/iot/overview

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December 04, 2017, 07:29:38 PM
 #3

Thank you, I will check IOTA!

Tether declared free of charge transfers from Tether Wallet to Tether Wallet - https://tether.to/fees/. How does it works?
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December 05, 2017, 08:25:11 AM
 #4

I'm not really that knowledgeable in this kind of thing. But for sure there is no thing as zero (0) fee or free of charge transaction in any business like this. They keep the business by what they earn in fees. I think there is that low fee but not zero.

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December 05, 2017, 09:44:11 AM
 #5

Is there blockchain crypto-currency protocols which allows to implement a free of charge transaction between users?
Is it possible or not and why?

I think 'blockchain' is the non-fitting word here.
It is possible to create (and implement) free of charge systems. There are quite a few out already. But not with a blockchain.
Currencies which have such a 'feature' would be IOTA or ByteBall (where there are tx fees for byteball) for example. They both are utilizing DAG (Direct Acyclic Graph, just google it).

In IOTA's case you have to solve/confirm 2 other transactions to be able to push 1 TX. But im not completely sure on that.
Such a system is definetly possible, as already proven by IOTA. But IMO its not really necessary to have a system with zero fee. I'm fine with paying a small fee when sending stuff around.

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December 05, 2017, 09:55:14 AM
 #6

Is there blockchain crypto-currency protocols which allows to implement a free of charge transaction between users?
Is it possible or not and why?

I think 'blockchain' is the non-fitting word here.
It is possible to create (and implement) free of charge systems. There are quite a few out already. But not with a blockchain.
Currencies which have such a 'feature' would be IOTA or ByteBall (where there are tx fees for byteball) for example. They both are utilizing DAG (Direct Acyclic Graph, just google it).

In IOTA's case you have to solve/confirm 2 other transactions to be able to push 1 TX. But im not completely sure on that.
Such a system is definetly possible, as already proven by IOTA. But IMO its not really necessary to have a system with zero fee. I'm fine with paying a small fee when sending stuff around.

Thank you for your answer. But as i asked here https://bitcointalk.org/index.php?topic=2520152 Tether declared free of charge transaction from Wallet to Wallet, but it developed on OMNI Layer. I couldn't understand how they can offer free transaction if OMNI based on Bitcoin network...
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December 05, 2017, 02:17:27 PM
 #7

I think it depends on the particular exchange/wallet as I have seen some transferring free of charge. There is tether as you know allows free transfers  from tether to tether wallet. I also know about zebpay wallet which is an Indian exchange that allows BTC transfers free of charge for zebpay to zebpay transactions. I have myself used it in the past and transferred some coins to my friend for free(I mean without any transaction fee) . So it basically depends on the exchange/wallet and there are very few of them those allow such facility.

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December 05, 2017, 03:04:40 PM
 #8

In the crypto currency world some wallet provider allow a free charge transaction between their users and an example is coinbase which allow low or no free charge of transaction between their users by using coinbase email address as wallet address


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derby911
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December 05, 2017, 03:22:43 PM
 #9

In the crypto currency world some wallet provider allow a free charge transaction between their users and an example is coinbase which allow low or no free charge of transaction between their users by using coinbase email address as wallet address

Okay.. if I using some Wallet by Wallet-Provider, Wallet generated an crypto-asset Address for me (as example ETH) and I use it to store my coins/tokens there. When I would like to transfer it to another user's ETH Address created by same Wallet provider (Wallet-to-Wallet transfer like Tether-to-Tether) ...will it be regular transfer from one ETH address to another? If yes, how can Wallet-Provider transfer it and avoid Ethereum network fees.. If not, how it works?

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