GoChain (GO) is an ecosystem token that supports smart contracts and applications based on Ethereum. The project is focused on providing services to enterprises, for example, B2B transactions or reputation verification.

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Transaction Fee Increase Proposal

Hi all, there has been a proposal to increase the transaction costs. The current cost of a transaction is very cheap, maybe too cheap, so increasing the cost will make it more sustainable while still remaining very low cost. 

A typical ERC20 transaction costs about $0.0002 cents at the current price of GO. 

The suggestion would be to increase the transaction fees by at least 10x, up to 100x. At 50x, the fees would be $0.011 per transaction.

And remember, all transaction fees are burned so this would decrease supply much quicker.  

Please let us know what you think and if you think we should put this up for a vote.

Transaction Fee Increase Proposal. Hi all, there has been a proposal to increase the transaction costs.