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From what I understand it’s the users. Right now if you want to run a smart contract on something like Ethereum you have to pay ‘gas’ which is the cost of execu
by meheleventyone 5y ago
From what I understand it’s the users. Right now if you want to run a smart contract on something like Ethereum you have to pay ‘gas’ which is the cost of execution on the VM and on top of that you have to tip the miner who ends up executing the code. A bigger tip gets you priority. A more complex piece of code that needs to be executed sooner is more expensive.
I’d guess for something like real-time chat you’d want another chain that could resolve transactions much faster and cheaper than Ethereum could and would have to buy their tokens to use it. Then hope that speculators don’t push up the price until using it for the intended purpose is in feasible.
- panarky 5y ago> on top of that you have to tip the miner Ethereum gas is the miner fee, they're not two separate things. More compute-intensive transactions cost more gas, and the price of gas is set in the market by supply and demand.
- meheleventyone 5y agoThis is how it used to be from what I understand of it and changed in August after "the London upgrade". A quick google took me here which explains it: https://ethereum.org/en/developers/docs/gas/ https://ethereum.org/en/developers/docs/gas/