Post
Topic
Board Announcements (Altcoins)
Re: [ANN][LISK] Lisk | ICO | Decentralized Application & Sidechain Platform
by
MalReynolds
on 02/03/2016, 16:37:19 UTC
(Note: looks like whitepaper needs to be updated, "0.1 LISK of amount sent for a spend transaction" should be "0.1% LISK of amount sent for a spend transaction".
We changed it to a constant 0.1 LISK. There was always the problem to calculate the fee, now it's very easy. Smiley

At Crypti, the "percentage fee" was always intended to be a way to compensate the 101 Active Delegates for their out-of-pocket server costs.  In some of my really old posts I went through the math in excruciating detail to show that a percentage fee for Crypti would never come close to covering server costs and I argued for a fixed fee or even no fee.  

Now here we are at Lisk, with the percentage fee gone like I promoted, replaced by a minimal fixed fee per transaction like I also promoted - and a new 5 Lisk paid per block to a forging delegate when his turn comes around every 101 blocks.  So...the Lisk forging block reward at 5 Lisk is 50 times the Lisk transaction fee at 0.1 Lisk - and it's conjured out of thin air as new inflationary coin!  

Crypti tried percentage fees on a non-inflationary coin, Lisk is gonna try inflationary block rewards.  Gotta pay the piper somehow, I guess...

Don't ever say that Lisk is nothing but a perfect clone of Crypti.  Look under the hood, there's lots of differences between Crypti and Lisk.  

Which was the main reason for the fork.