anyone can explain what "zero fee" proposal really mean?
As you already know, with the current fee system, we have to charge a fee on any operation just to prevent possible spam attacks.
We have several operations that really do not represent, for their nature, a revenue for the network; just to list some: call_order_update, account_update, asset_publish_feed, proposal_ops, witness_update and others.
Among these operations, there are a couple that are already preventing some business to move on bts. I am referring to metaexchange, that fairly stated that having to handle order_create and order_cancel operations fee for their costumers, is a no-go.
What Bytemaster come up with on last mumle?
Basically a new fee system that would allow us to really decide *which* operation should have a fee and which don't, *without* the risk of exposing the network to a spam attack.
From mumble:
"Could you imagine a scenario where the blockchain have no fees at all, instead all the accounts were rate limited proportional to their balance?"
"As far as viewing your bts as owning a percentage of the available network capacity. So if someone own 1% of bts, he can consume 1% of the network capacity."
"Think of it in another way: imagine everyone is doing time-share on the blockchain space and everyone who owns shares can consume some of the blockchain space when they want to do a transaction, and with this method no one would be able to flood the network because they can only consume their allowed allocation of the bandwidth."
What this means?
-We could limit ourselves to remove the fee *only* on operations that do not represent a revenue income for the network, allowing business like metaexchange to easily move their backend on bts platform. All of this without the risk of being attacked by spammers and without losing the ability of the network to be profitable.
-We could push ourselves a bit forward, allowing LTM to have discounts on some operation and actually 0 fee on others. This would allow the network to remain profitable meantime being marketed as *free* for some aspects.
(e.g. profit stream from: trading, account_create, account_upgrade, asset_create, ltm restricted features like bond market etc. plus: marketing bts as the first(?!) blockchain allowing free transfer)
-We could remove *all* fees, being marketed as a totally free blockchain, losing all kind of revenue stream
Fact is: it would give us lot more freedom from fees point of view.
Edit: and could also allow new business to arise, eg. microtransactions, maybe chat on the blockchain...
IMO. In general it is a very nice idea.
I would really like to see the community discussing it seriously.
There are for sure some sensitive points that need to be addressed tho.
Topic: Will this community be surpporting BM's "zero fee" proposal to get micropayment? (Read 44980 times)
