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3.2 Value Transfer Fee.pptx

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3.2 Value Transfer Fee.pptx

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Value transfer fee is based upon the approach of weight-based fixed percentage fees that are currently being commissioned in payment networks like VISA, Mastercard, Paypal, etc. Since Gas fee is relatively cheaper and producers won't be profiting or benefitting economic rewards from it, an additional transfer fee is imposed in value scripts which hold an asset value.

Value transfer fee is based upon the approach of weight-based fixed percentage fees that are currently being commissioned in payment networks like VISA, Mastercard, Paypal, etc. Since Gas fee is relatively cheaper and producers won't be profiting or benefitting economic rewards from it, an additional transfer fee is imposed in value scripts which hold an asset value.

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3.2 Value Transfer Fee.pptx

  1. 1. Project Blink Blink Gas & Script 3.2 Value Transfer Fee
  2. 2. Value Transfer Fee ● As discussed previously, In blinkchain transaction fee = computation fee (gas) + value fee ● Here, Value fee can be called as Transfer Fee ● In Blinkchain a transaction that involves any value transfer, in particular, shall be imposed with a transfer fee along with the computation gas fee for the script ● Since computation can be extremely cheap in Blinkchain due to a fixed base fee, the producers are substituted with the transfer fees.
  3. 3. Fixed Percentage Fee ● Transfer fee is calculated in percentages similar to currently available payment networks such as VISA,Mastercard, Paypal, etc. ● It is levied on each output UTXO created on every transaction. ● Transfer Fee changes for every epoch. ● High Volume low transfer fee ; low volume high transfer fee ● The fees are negligible and will theoretically attain $1 for $20,000 value transaction accounting to 0.005% of fees when blinkchain reaches higher volume and activity.
  4. 4. Dynamic Fee Range ● Transfer fee ranges from at max 0.05% to at min 0.005% on the outputs of the transaction. ● Fee exact percentage is determined by taking previous epochs performance i.e., the Volume of total outputs in oracle rate
  5. 5. Genesis Epochs Transfer Fees ● The transfer fee is initially set at 0.05% in the first three epochs (Genesis Epochs) and later the fee is determined by the Transfer Fee Determining algorithm ● Due to variable constraints inside blinkchain, the genesis epochs are first three epochs ● The Total Oracle Volume of Outputs in the n − 2, n − 1 epochs and determines to increase, decrease, or keeps the same percentage fee on the next n+1 epoch.
  6. 6. Genesis Epochs Transfer Fees ● Standard deviation between n − 2, n − 1 are taken ● If SD of n-2 & n-1 < 0.75 then the transfer fee won’t change, if it is higher than 0.75 then the transfer fee will change ● Every change include either + 0.0005 or -0.0005 ● If Volume of n-2 < Volume of n-1 then there is higher volume of transactions requiring to lower the transfer fee. If vice versa ,it should increase the transfer fee ● But the range cap is fixed 0.05% - 0.005%
  7. 7. Final Note ● Ethereum charges from inputs, Blinkchain charges from Outputs ● Outputs are validated to know if it halts by itself ● Each output is a finite script with x number of computation steps from which the total gas units are calculated and the gas fee is imposed. ● During deployment and execution of scripts with only logic shall be cheaper compared to scripts with the value contained in it. ● Blink Scripts will introduce separation of logic from value and making a hierarchical system allowing the logic to be executed at a higher level and only boolean executions are deployed in value scripts
  8. 8. Next : 3.3 Parent Child Script

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