Bitcoin Solaris
  • Introduction
    • Project Overview
      • Technology Overview
      • Modernizing Bitcoin for DeFi Integration
      • Integrating Solana: Enhancing Bitcoin Solaris
  • Blockchain Information
    • Blockchain Architecture
      • Hybrid PoW/DPoS Consensus Mechanism
    • Dual-Layer Blockchain
    • Gas and Fee Structure
    • Validators in the Bitcoin Solaris Network
      • Validator Selection and Rotation
    • Smart Contract Programming Language and Layers
      • Smart Contract Functionality
    • Official RPC Providers for Bitcoin Solaris
  • Token Information
    • Token Supply and Issuance
    • Bridging
    • Use Cases and Applications
    • sBTC-S Liquid Staking
    • Governance Model
    • Token Migration
  • Project Roadmap
  • Mining Information
    • Overview
    • Reward Distribution System
    • Solaris Nova Mining App
    • Mining Power Marketplace
    • Mining Devices and Specifications
  • Security Information
    • Security and Risk Management
    • Audit Reports
  • Development Team
  • Understanding Privacy
    • For Developers
    • For Users
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  1. Blockchain Information

Gas and Fee Structure

PreviousDual-Layer BlockchainNextValidators in the Bitcoin Solaris Network

Last updated 14 days ago

In the Bitcoin Solaris ecosystem, the concept of 'gas' takes on a unique form. BTC-S, the native token of Bitcoin Solaris, serves as the 'gas' for all transactions and smart contract executions on the network.

Transaction Fees and Validator Rewards: When users interact with the Bitcoin Solaris network, they pay fees in BTC-S. These fees are distributed to network validators who secure the blockchain and process transactions through the Helios Consensus Mechanism (HCM). This system incentivizes validators to maintain network integrity and efficiency.

Dynamic Fee Structure: Bitcoin Solaris implements an innovative dynamic fee structure that considers multiple factors:

  1. Network Demand: Higher network usage increases fees.

  2. Contract Complexity: More intricate smart contracts require higher computational resources and thus higher fees.

  3. Product Revenue Balance: A unique feature of Bitcoin Solaris that influences fee calculations.

Revenue-Influenced Fee Reduction: One of Bitcoin Solaris' groundbreaking features is the inverse relationship between product revenue and transaction fees. As the revenue generated by Bitcoin Solaris products and services grows relative to the BTC-S market cap, the network can potentially reduce transaction fees. This mechanism aims to create a more accessible and cost-effective blockchain ecosystem as the platform matures.

Solar: The Smallest Unit The smallest denomination of BTC-S is called a "Solar," equivalent to 0.000000000001 or 10^(-12) BTC-S. This granular division allows for precise transactions and microtransactions within the ecosystem.

Adaptive Base Fee System: Unlike traditional static fee systems, Bitcoin Solaris employs an adaptive base fee that responds to network revenue. This system opens up the possibility of extremely low or even zero fees under certain conditions. If the revenue generated from Bitcoin Solaris products and services exceeds the amount required for validator rewards and network maintenance, the system can potentially reduce gas fees to minimal levels.

Potential for Feeless Transactions: In scenarios where product revenue alone can sustain validator profitability, Bitcoin Solaris has the unique capability to potentially offer feeless transactions. This feature could revolutionize blockchain usage, making it more accessible for a wider range of applications and users.

BTC-S Burning Mechanism: In cases of significant revenue surplus, Bitcoin Solaris may implement a BTC-S burning mechanism. This process would involve destroying a portion of BTC-S tokens, potentially increasing the value of remaining tokens and creating a deflationary effect.

Gradual Implementation: While the system allows for zero fees and BTC-S burning, these advanced features are not expected to be implemented immediately upon launch. Bitcoin Solaris anticipates a 1 to 2 year period post-launch for product market penetration, ecosystem development, and fine-tuning of these mechanisms.

Integration with Helios Consensus Mechanism (HCM): The fee structure works in tandem with the HCM, ensuring efficient block creation and validation. Validators are rewarded through a combination of transaction fees and block rewards, with the balance shifting towards fee dominance as the network matures.

Cross-Chain Compatibility: Given Bitcoin Solaris' dual-layer architecture, which includes integration with the Solana ecosystem, the fee structure also accounts for cross-chain transactions. This ensures seamless interoperability between the Bitcoin Solaris network and Solana-based applications.

Governance and Fee Adjustments: The Bitcoin Solaris community plays a crucial role in governance, including decisions on fee structure adjustments. Token holders can participate in proposals and voting mechanisms to fine-tune the fee system, ensuring it remains balanced and beneficial for all network participants.

By combining these innovative features, Bitcoin Solaris aims to create a highly efficient, cost-effective, and user-friendly blockchain ecosystem that can adapt to changing market conditions and user needs.