6 documentos etiquetados con "storage-collateral"

This page is created to provide information for CORE SPACE ACCOUNTS. Refer to General-Accounts for the overall introduction of the concept of ACCOUNTS.

Behaviour of cfx_estimateGasAndCollateral

Conflux Core Space implements a sponsorship mechanism to subsidize the usage of smart contracts. Thus, a new account with zero balance is able to call smart contracts as long as the execution is sponsored (usually by the operator of Dapps). This mechanism is designed to reduce the barrier of entry for new users.

Conflux Core introduced the Collateral for Storage (CFS) mechanism as a pricing method for using storage. Compared to Ethereum's one-time storage fee, the CFS mechanism is more fair and reasonable. In principle, this mechanism requires locking a certain amount of funds as collateral to occupy storage space. This collateral remains locked until the corresponding storage space is either released or taken over by others. The interest generated by the locked collateral is directly allocated to miners for maintaining the storage space. Thus, the storage cost in Conflux also depends on the duration for which the storage space is occupied. Conflux has detailed this mechanism in chapter 7 of its Conflux Protocol Specification.

In the Conflux Core Space, transactions are processed by miners who charge a fee for their service. This fee incentivises miners to participate in the network and keep it running smoothly. The fees are paid in CFX and are specified by the transaction initiator through the gas, gasPrice and storageLimit fields in the transaction.

Transaction receipt is the data structure that contains information about the transaction execution result.