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Review gas costs #24

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rgeraldes opened this issue Jan 9, 2018 · 4 comments · May be fixed by #740
Open

Review gas costs #24

rgeraldes opened this issue Jan 9, 2018 · 4 comments · May be fixed by #740
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bootes-launch
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bootes

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@rgeraldes
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rgeraldes commented Jan 9, 2018 •
edited by yourheropaul
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UPDATE There are now answers:

  • Remove variable gas price
  • Fix gas price to 0.0000004 (so that a 21,000 gas price transaction costs about k$0.0084, or just less than a penny).

  • In Ethereum the cost of operations are not measured in the token directly due market prices - change rapidly. From a marketing point of view we can use our own stable token to address and give "human" prices instead of using terms such as gas and gas limit. In volatile networks it's important to separate the price of computation from the price of the token. In our case it's not since we have a stable coin.

  • The other part to the gas issue is to identify whats an acceptable "gas limit" for 1 second block times. Ethereum has a dynamic gas limit but in our case we're interested in the maximum amount of transactions in that block of time.
    A dynamic one might make sense in some scenarios.
@yourheropaul yourheropaul added this to the andromeda milestone Jan 19, 2018
@rgeraldes rgeraldes changed the title [kusd] review gas prices [Andromeda] [kusd] review GAS Mar 1, 2018
@rgeraldes rgeraldes changed the title [kusd] review GAS [kusd] review "GAS" Mar 1, 2018
@yourheropaul
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We currently use the ethereum default price for gas. There is also a section in the whitepaper called Compute Fee that outlines the expected costs.

What price should we choose and why?

@yourheropaul yourheropaul changed the title [kusd] review "GAS" Review gas costs Jul 17, 2018
@yourheropaul yourheropaul modified the milestones: andromeda, bootes Aug 3, 2018
@yourheropaul
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Solutions from meeting 23/08/2018:

  • Remove variable gas price
  • Fix gas price to 0.0000004 (so that a 21,000 gas price transaction costs about 0.0084, or just less than a penny).

@rgeraldes rgeraldes mentioned this issue Aug 29, 2018
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@yourheropaul
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The fixed value above probably won't work for non-US currencies. I guess it has to be dynamic.

@rgeraldes rgeraldes linked a pull request Sep 12, 2018 that will close this issue
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@rgeraldes
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good point; I will add an issue - the current one is getting too big.

This was referenced Sep 13, 2018
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@yourheropaul @rgeraldes