Nyzo techFeesTransaction fees

Transaction fees

All standard and seed transactions incur a 0.25% fee. This fee is split evenly among the verifier of the transaction's block and the verifiers of the previous nine blocks. For blocks before block 9, the fee is split evenly among the verifier of the transaction's block and all previous blocks. Transaction fees that cannot be divided evenly are rounded down to the nearest micronyzo, and the remainder is rolled over to the next block.

In version 1 of the blockchain, 1% of organic (standard) transaction fees (0.0025% of organic transaction amounts) is transferred to the cycle account (address 0000...0002). This replenishment of the cycle account will ensure that this account is a perpetual source of funding for maintenance and development of Nyzo.

Outgoing cycle transactions are not charged a transaction fee. Cycle transactions are likely to be relatively large, and charging a fee on these transactions would provide an inappropriate incentive to place cycle transactions on particular blocks to allow particular verifiers to collect the fees.