Features
Transaction Fees

Introduction

XELIS has transaction capabilities on its network.

To reward miners for their hard work keeping the blockchain a safe space and also preventing spamming attacks using high count of transactions, XELIS has a slightly different approach to calculate the required fee.

First, fees paid by a transaction can only be paid using XELIS (native) asset, and is based on more than one parameter.

The parameters used to determine the minimal transaction fee are the following:

  • Size in bytes, where every 1024 bytes used, you must pay 0.0001 XELIS.

This fee is used to prevent chain bloating and growing too fast in size disk terms.

  • Transfers count, where each transfer cost an additional fee of 0.00005 XELIS.

This is used to have accurate fee based on the needed computation due to Homomorphic Encryption. More transfers require more computation to be applied and verified.

  • Newly created addresses, where each address registered by a transaction must pay an additional fee of 0.001 XELIS.

This fee is set in exchange to have no Proof-Of-Work process needed to register an account on chain, preventing a spamming attack that would bloat the chain with fake and/or unused accounts. This is a one-time fee for each account that never had any record previously. An account can be registered automatically by either mining a block or by already receiving a transaction.

This limit the advantages of using transactions as a vector of attack in case some dishonest people would try to harm the chain.