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Author Topic: Next-Gen Blockchains are Fee-less  (Read 243 times)
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February 09, 2019, 06:25:36 PM
 #21

I think that for a good product you need to pay, as in the development of its funds and human resources have been invested.
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UnruffledST
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February 09, 2019, 06:28:47 PM
 #22

I think that for a good product you need to pay, as in the development of its funds and human resources have been invested.

Block rewards take care of this not fee's, the only reason fee's are needed in PoW is because of its outrageous power consumption. Permisionless blockchains are for the people so why would they need to pay for something that is built for them and to free them from the grasp of others when it is not required.
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February 09, 2019, 06:38:22 PM
 #23

wait is this not fair if it gives a tier, why does someone who has a small amount have to wait longer to make a transaction.

maybe using time lock is a good thing, but using tiers doesn't seem necessary. not every transaction is collected in 1 block, depending on the capacity of the block. so it doesn't matter how much money they have. without fees it is possible, but there must be a sacrifice and one of them is time.

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February 09, 2019, 07:03:15 PM
 #24

It is funny that you bring up this argument of fee up, Fee is serving an important role in the ecosystem, with the reduction in the mining reward what incentives do you have for miners for them to keep securing the next work. Let me tell you, nothing is absolutely free, someone somewhere is paying the price for tat which you think is free

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February 09, 2019, 08:06:25 PM
Last edit: February 09, 2019, 08:28:35 PM by UnruffledST
 #25

It is funny that you bring up this argument of fee up, Fee is serving an important role in the ecosystem, with the reduction in the mining reward what incentives do you have for miners for them to keep securing the next work. Let me tell you, nothing is absolutely free, someone somewhere is paying the price for tat which you think is free

Again fee is not that important as any non energy consuming network can pay anyone upholding the network with block rewards, ie new coins being brought into the network.

wait is this not fair if it gives a tier, why does someone who has a small amount have to wait longer to make a transaction.

maybe using time lock is a good thing, but using tiers doesn't seem necessary. not every transaction is collected in 1 block, depending on the capacity of the block. so it doesn't matter how much money they have. without fees it is possible, but there must be a sacrifice and one of them is time.

It is a bit fair and yes a wait time is what is being sacraficed on the network, everyone gets fee-less transaction. The tier levels with a lower fund amount have a higher time sacraficed mainly because in the way Scroda's network operates it restricts all users to one-time-use addreses this being because Scroda is a privacy coin. If you head to https://scroda.io/ you can read more on the whitepaper.

It does provide users with the option to safely merge their funds together also through the use of a mixing pool in which allows for unlinkability to be maintained.  Smiley

The time lock idea is plausible, it would take some clever coding to not affect throughput. The biometric and Olympic idea wouldn't be easy to scale properly

Yes exactly which is why the time lock is what we are standing by, then the biometric would be used seperate from transactions just for node validators and governance. The Turing Olympics we decided to leave on the drawing board just to get peoples juices flowing on creativity and being open to new posibilities even though we are not to implement it at the time into Scroda.

Glad to hear your thought on the matter  Smiley Smiley Smiley
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February 09, 2019, 09:55:00 PM
 #26

I do not think that this is possible, because it is necessary to have capacity around the world, that they would keep the data on transactions.

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February 09, 2019, 10:01:11 PM
 #27

I do not think that this is possible, because it is necessary to have capacity around the world, that they would keep the data on transactions.


Sorry could you re-phrase your question? What I got was capacity? you mean nodes to process the data? If so it is doable without the need of fee's.

Bitcoin currently has 10,000 full nodes running.

Bitcoin creates 1,800 new coins per day.

1,800 coins x $3,500 = $6,300,000 in rewards just purely on block rewards without any fees included.

with $6,300,000 in block rewards any non energy consuming blockchain has more than enough to reward members that are upholding their network.


Bitcoin isn't the only blockchain out there nor is PoW the only concensus mechanism, please do more research on blockchain as you are lacking knowledge and I would advice against you investing in ICO's until you do so, for your own good.

Again before posting absurd replies please make sure to know what you are talking about. It looks silly and you should be ashamed.  Roll Eyes
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February 09, 2019, 10:09:26 PM
 #28

low cost is indeed a major attraction, the decentralized system adopted by some blockchain does have to provide this but there are some who do not actually charge high rates and if they continue to do so crypto will forever only be a means of investment not as a currency used for payment
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February 09, 2019, 10:44:43 PM
 #29

low cost is indeed a major attraction, the decentralized system adopted by some blockchain does have to provide this but there are some who do not actually charge high rates and if they continue to do so crypto will forever only be a means of investment not as a currency used for payment

Actually cryptocurrencies will forever only be looked at as an investment if the production of new technology is delayed. The fee-less ecosystem that Scroda has servers a purpose, this is to allow for self-routing to take place in abundance without limiting users to just routing 3-6 times as Monero does as it ends up being costly imagine having to pay thousands of dollars just to maintain privacy over time it isn't worth it nor is it fair to have to pay for privacy.
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February 09, 2019, 10:49:27 PM
 #30

I think that much depends on the concept of the project. If the platform does not imply additional emissions, then some motivation is needed so that people support the network and be nodes. For motivation, you can use fee as  reward.
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February 09, 2019, 10:55:47 PM
 #31

I think that much depends on the concept of the project. If the platform does not imply additional emissions, then some motivation is needed so that people support the network and be nodes. For motivation, you can use fee as  reward.

Again block rewards serve as plenty of motivation, most blockchains that implement fee's take a founders cut out of it for no practical reason.

$6,300,000 is a decent daily block reward amount so why would users need more than that if they are not using a energy consuming blockchain?

None, fee's actually help blockchains become more centralized as all these fee's go to the same people and they are the ones who end up holding the majority of coins in a network just from collecting an absurd amount of fee's which isn't healthy for a blockchain ecosystem at all. Shocked Shocked Shocked
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February 09, 2019, 11:20:01 PM
 #32

if only all types of crypto and exchangers apply lower transaction costs and the transaction process can be faster then I am sure there will be many people who are interested in using crypto as a legitimate payment tool because if it is truly revised the bank will be completely abandoned

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February 09, 2019, 11:31:38 PM
 #33

if only all types of crypto and exchangers apply lower transaction costs and the transaction process can be faster then I am sure there will be many people who are interested in using crypto as a legitimate payment tool because if it is truly revised the bank will be completely abandoned

True my friend  Smiley the thing is alot of people don't look at cryptocurrencies for its technology but just merely for the ROI  Cry
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February 09, 2019, 11:33:53 PM
 #34

Outdated blockchains that currently charge fee’s per transactions are to be left in the dust as new concepts that allow for fee-less transactions come to light. Get ready to indulge information that is sure to enlighten you.

https://medium.com/@scroda/next-gen-blockchains-are-fee-less-8eebf7f67947


It is to note that some blockchains have attempted to provide fee-less transactions but in reality just hiding the fee’s elsewhere, either by making you pay for it at home or making others pay it for you, in which both aren’t a healthy practice.
You seem like never watched DAG system and that has already applied to the DAG system dude. That article is useless because it's only people's opinion and he can't even create it. Someone has already made it and it's life right now. instant transaction and zero fees. It's a little bit different than blockchain.

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UnruffledST
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February 09, 2019, 11:41:14 PM
Last edit: February 09, 2019, 11:52:33 PM by UnruffledST
 #35

Outdated blockchains that currently charge fee’s per transactions are to be left in the dust as new concepts that allow for fee-less transactions come to light. Get ready to indulge information that is sure to enlighten you.

https://medium.com/@scroda/next-gen-blockchains-are-fee-less-8eebf7f67947


It is to note that some blockchains have attempted to provide fee-less transactions but in reality just hiding the fee’s elsewhere, either by making you pay for it at home or making others pay it for you, in which both aren’t a healthy practice.
You seem like never watched DAG system and that has already applied to the DAG system dude. That article is useless because it's only people's opinion and he can't even create it. Someone has already made it and it's life right now. instant transaction and zero fees. It's a little bit different than blockchain.

Again as many have noted IOTA(DAG) has hidden fee's. IE the eletric bill that shows up at a users house.

Again please do your research....  Roll Eyes Roll Eyes Roll Eyes Roll Eyes
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February 09, 2019, 11:46:14 PM
 #36

Outdated blockchains that currently charge fee’s per transactions are to be left in the dust as new concepts that allow for fee-less transactions come to light. Get ready to indulge information that is sure to enlighten you.

https://medium.com/@scroda/next-gen-blockchains-are-fee-less-8eebf7f67947


It is to note that some blockchains have attempted to provide fee-less transactions but in reality just hiding the fee’s elsewhere, either by making you pay for it at home or making others pay it for you, in which both aren’t a healthy practice.
You seem like never watched DAG system and that has already applied to the DAG system dude. That article is useless because it's only people's opinion and he can't even create it. Someone has already made it and it's life right now. instant transaction and zero fees. It's a little bit different than blockchain.

Again as many have noted IOTA(DAG) my dude has hidden fee's. IE the eletric bill that shows up at a users house.

Again please do your research before trying to come in and act all mighty like you know what you are talking about.

even they boast for zero transaction fees, they have hidden charges somewhere. it is like your local crypto exchange, boasting no withdrawal fees, but you are buying your fiat currency in a higher rate or selling your bitcoin at a much lower rate.

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UnruffledST
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February 09, 2019, 11:58:34 PM
 #37

Outdated blockchains that currently charge fee’s per transactions are to be left in the dust as new concepts that allow for fee-less transactions come to light. Get ready to indulge information that is sure to enlighten you.

https://medium.com/@scroda/next-gen-blockchains-are-fee-less-8eebf7f67947


It is to note that some blockchains have attempted to provide fee-less transactions but in reality just hiding the fee’s elsewhere, either by making you pay for it at home or making others pay it for you, in which both aren’t a healthy practice.
You seem like never watched DAG system and that has already applied to the DAG system dude. That article is useless because it's only people's opinion and he can't even create it. Someone has already made it and it's life right now. instant transaction and zero fees. It's a little bit different than blockchain.

Again as many have noted IOTA(DAG) my dude has hidden fee's. IE the eletric bill that shows up at a users house.

Again please do your research before trying to come in and act all mighty like you know what you are talking about.

even they boast for zero transaction fees, they have hidden charges somewhere. it is like your local crypto exchange, boasting no withdrawal fees, but you are buying your fiat currency in a higher rate or selling your bitcoin at a much lower rate.

Who IOTA? Or Scroda's concept? If so did you read the concept there really isn't no hidden fees anywhere at all unlike IOTA, Scroda's concept is 100% fee-less.

Again please read the blog before commenting really not trying to have pointless conversations with those who did not bother reading the blog.  Roll Eyes Roll Eyes Roll Eyes
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February 10, 2019, 02:10:54 AM
 #38

if you're not paying for the product, you are the product! Direct or indirect fess are economical incentive. You can't build a stable network without it.
You sum it mate, well said, these kind of projects are selling plain " illusions ", this reminds me of that RobinHood exchange when they keep marketing their product (exchange) as FeesFree exchange, oh god, & then the spread is pretty " amazing " for them lol.

There i nothing called FREE in the internet, people should know this as a fact & move one, FRE means "  Motivation " = product dies, as simple as that (supposedly this FREE thing exists in the first place).
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February 10, 2019, 03:24:07 AM
 #39

if you're not paying for the product, you are the product! Direct or indirect fess are economical incentive. You can't build a stable network without it.
You sum it mate, well said, these kind of projects are selling plain " illusions ", this reminds me of that RobinHood exchange when they keep marketing their product (exchange) as FeesFree exchange, oh god, & then the spread is pretty " amazing " for them lol.

There i nothing called FREE in the internet, people should know this as a fact & move one, FRE means "  Motivation " = product dies, as simple as that (supposedly this FREE thing exists in the first place).

Again please read the blog before commenting we are not selling plain illusions, why comment if you will not read the blog. We are not robinhood and cant be compared to them nor are we hidding fee's such as IOTA.

If you bothered reading the blog maybe you will learn something. Smiley
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February 10, 2019, 03:44:51 AM
 #40

Outdated blockchains that currently charge fee’s per transactions are to be left in the dust as new concepts that allow for fee-less transactions come to light. Get ready to indulge information that is sure to enlighten you.

https://medium.com/@scroda/next-gen-blockchains-are-fee-less-8eebf7f67947


It is to note that some blockchains have attempted to provide fee-less transactions but in reality just hiding the fee’s elsewhere, either by making you pay for it at home or making others pay it for you, in which both aren’t a healthy practice.

Some examples would have been better. Regarding fee less, I am yet to come across entirely fee less Blockchain, some have negligible transaction fees (but still fees!) and some require amount of coins to be locked.

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