Is it possible to issue token with 0 transaction fees?

1.1k views Asked by At

Let's say, for instance, I want to issue a token. I either use existing blockchain (like Ethereum, EOS, Tron) and write a smart contract there, or create my own blockchain. The problem is, that I want to issue a token without any transaction fee. Like NANO. I've talked to some people from Tron and they said its impossible on Tron. So here is the question. Is it possible to create a smart contract to issue a new currency on any existing blockchain, so that when this token is being sent to another address there will be no commission taken? Like on NANO, again. Or I do set up my own blockchain? And, may this help?: link

2

There are 2 answers

0
dankir On BEST ANSWER

No, this is not really possible. Transaction fees help provide economic incentives to the miners/validators that facilitate consensus mechanisms. Of course, there are many layer 2 solutions like Lightning Network, Cosmos, Polkadot, Matic, etc... that have extremely minute transaction fees and various advantages compared to the base layer, but there are always tradeoffs. In Lightning, you need to have your BTC locked inside a payment channel, and that payment channel is limited to a certain number of parties. Try reading into some of these other layer 2 solutions to see if they are a fit for your situation.

0
hassan ahmed On

If you are working with tokens and public blockchain you have to incentivize people investing in your network this incentive in most cases comes from transaction fee mining reward etc.
Transaction fees are what make your network grow and attract more people to invest in it.
In terms of real-world think of it like this, why would anyone want to invest in commercial property if he is not gonna get any return so its very logical to have incentives. It is not impossible to have no TX-fee its just not a scalable sound model. Tx-fee allows brings some inherent benefits to your network like making you less vunerable to DDOS attacks. Having that said let's talk about how is it possible technically(not logically ofcourse).

1.You have to develop your own blockchain (like Ethereum, EOS, Tron)
2. You can deploy EOS as private and play with its system contracts to remove resource limitations.
3.Deploy eosio.token contract Create your coin and issue its supply
4. Last but not least you have to convince people to join you blockchain and buy your coin (which is where you would get most hard time).
This is just a way to do it but in no way i endorse this due to all of the reasons stated above at start