In Wolfram Warptangent (Monero v0.10), a new fee structure was introduced, in addition to decreasing the minimum tx fee. What is the current fee structure?
Add a comment
|
2 Answers
Two weeks after the v3 fork, nominal fees will decrease from 0.01 monero/kB to 0.002 monero/kB. At the same time, the fee multipliers used for priority determination will change from x1, x2, x3 to x1, x20, x166. These numbers are chosen so that using x166 compensates a miner for the loss of block reward incurred by pushing the block size substantially over the median of the last N blocks. In simplewallet, those extra fee tiers are selected with set priority X, with X from 1 to 3, and those will map to the above multipliers for all subsequent transactions.
answered Sep 28, 2016 at 10:53
Previously, the fee structure was 0.01 XMR per kilobyte. Now it is 0.002 XMR per kilobyte. So if a transaction is 5 kb big, it will cost 0.002 * 5 = 0.01 XMR, whereas previously it would have cost 0.01 * 5 = 0.05 XMR.
answered Sep 27, 2016 at 1:32
-
2I was asking more about the priority fee multiplier structure than the min fee, not sure if that's taken effect yet. Sep 27, 2016 at 1:52
-
2Are these fixed values that will be changed every time there will be a new software release / major move in the value? Is the idea to have say a relatively constant $ cost per kb? Sep 27, 2016 at 13:08