how to reduce transaction fees on private blockchains?
how to reduce transaction fees on private blockchains?
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Nayana · External communityPost link
External question — Ethereum Stack Exchange
Author: Nayana
Original post: https://ethereum.stackexchange.com/questions/119428
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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I have some questions regarding transaction fees on private blockchain.
I'd appreciate your help. Also, if there are any references I can read about this, please let me know.
Do transaction fees occur in private blockchains in the form of sidechains?
maybe of course, but I was wondering if I could set the transaction fees for transfer/mint functions to be 0. But then, miners in my private blockchain would have no incentives, right?
I heard transaction fees are much lower in sidechains like Ronin, how is it possible? Is it simply because of less congestion?
I believe I can control/set transaction fees for transactions within my private blockchains, but for any transactions that require communications with mainnet, I cannnot control the transaction fess in any way, is it correct?
What ways are there to reduce the transaction fees in private blockchains?
One idea i have is that if the entire network is owned by my organization or consortium meaning a permissioned network, and if we could all agree on a certain fee, then I guess we could fix the transaction fees low, right?
Can a consensus algorithm affect the transaction fees?
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Mad Jackal · External communityPost link
External answer — Ethereum Stack Exchange
Author: Mad Jackal
Original post: https://ethereum.stackexchange.com/a/119434
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
Adaptation: HTML converted to plain text; contact email addresses removed.
In a private blockchain, you can use Quorum:
there is no transaction fee in it
it is almost identical to Ethereum in terms of smart contracts and in general
there will be no forks in it
it does not form blocks that do not contain transactions, which saves space
it has a mechanism of protected private smart contracts (for example, Tessera)
in general, it is more stable than Ethereum and is better suited for private networks with a relatively small number of nodes (up to 100)
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Quoted from Forex.com.bd-Editorial External question — Ethereum Stack Exchange Author: Nayana Source score (net votes, not local likes): 0 Original post: https://ethereum.stackexchange.com/questions/119428 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. I have some questions regarding transaction fees on private blockchain. I'd appreciate your help. Also, if there are any references I can read about this, please let me know. Do transaction fees occur in private blockchains in the form of sidechains? maybe of course, but I was wondering if I could set the transaction fees for transfer/mint functions to be 0. But then, miners in my private blockchain would have no incentives, right? I heard transaction fees are much lower in sidechains like Ronin, how is it possible? Is it simply because of less congestion? I believe I can control/set transaction fees for transactions within my private blockchains, but for any transactions that require communications with mainnet, I cannnot control the transaction fess in any way, is it correct? What ways are there to reduce the transaction fees in private blockchains? One idea i have is that if the entire network is owned by my organization or consortium meaning a permissioned network, and if we could all agree on a certain fee, then I guess we could fix the transaction fees low, right? Can a consensus algorithm affect the transaction fees?
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