4 docs tagged with "cfx_estimateGasAndCollateral"

The core JSON-RPC API of Conflux.

Behaviour of cfx_estimateGasAndCollateral

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.