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Gas Fees

Gas fees are being distributed to Validator Nodes as a reward for confirming transactions and providing additional security to the blockchain. As opposed to other blockchain protocols, the transaction fees on the eSync Network are intended as a percentage value instead of an absolute value. However, this is not implemented on the blockchain protocol itself (i.e. on a technical level) but is rather a suggestion to all providers of wallets.

It is important to note that Validator Nodes do not create (“mint”) new tokens. Hence, this process does not increase the supply of available tokens and does therefore not have an inflationary effect. It is rather a redistribution of the transaction fees.

The goals of this approach are the following:​

  • Introduce a fairer ranking for transactions to be mined
  • Generally lowering transaction costs due to removal of the bidding mechanic of gas fees (usually, in unequal conventional blockchains faster transactions cost more gas)
  • Reducing the impact and the concern about increasing gas fees

These measures are the manifestation of the eSync Network paradigms, effectively creating a more democratic and equal transaction system for everyone