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How do you account for the cost of the transaction itself? Those aren't cheap.
by granda 9y ago
How do you account for the cost of the transaction itself? Those aren't cheap.
- meesterdude 9y agoQuerying the blockchain does not cost anything, just making changes to it. Otherwise, verifying transactions would be a recursive cost. I could be wrong though, but pretty sure since it's distributed reads are free, writes are where it costs.
- tylersmith 9y agoI think he means for the micropayment. For that system to be viable it would need Raiden or some other payment channel system.
- tylersmith 9y agoThe tech isn't quite here yet but payment channels would be a good solution.
- xiaoyao 9y ago+1, I have another project on payment channels, coming soon
- runeks 9y agoPayment channels alone are only a good solution if you consider it acceptable to establish a payment channel with everyone you want to pay. So, in other words, it only makes sense for recurring payments to the same merchant, and you pay the blockchain fee once for each merchant you want to pay. Consequently, if you only pay once you pay the same fee as an on-chain transaction, and if you pay 1000 times you pay, in average, 1000th the blockchain fee per payment.