Reactive Gas: Understanding Fees in the Reactive Network
The Reactive Network introduces a unique fee structure designed for efficiency and sustainability. Unlike traditional blockchains that distribute transaction fees to validators, Reactive fully burns all transaction fees, creating a deflationary mechanism that counteracts inflation as network usage grows.
How Fees Work in Reactive Network
- Deflationary Model — All gas fees are burned, reducing REACT supply as activity increases.
- Event-Triggered Execution — Gas fees are only consumed when reactive smart contracts (RSCs) meet specified conditions, ensuring optimal efficiency.
- Post-Execution Fee Payment — Unlike standard EVM transactions, RVM transactions do not have a predefined gas price; fees are accounted for in the next block (n+1).
- Gas Calculation Formula — Fees are determined using:
Fee = BaseFee × GasUsed, where the base fee aligns with network pricing and usage.
This aggregated accounting approach enhances network efficiency while ensuring fair fee distribution based on actual resource consumption.
➡️ Read the full article here to learn more about how gas fees work in Reactive Network and why this model benefits the ecosystem.
About Reactive Network
The Reactive Network, pioneered by PARSIQ, ushers in a new wave of blockchain innovation through its Reactive Smart Contracts (RSCs). These advanced contracts can autonomously execute based on specific on-chain events, eliminating the need for off-chain computation and heralding a seamless cross-chain ecosystem vital for Web3’s growth.
Central to this breakthrough is the Inversion of Control (IoC) framework, which redefines smart contracts and decentralized applications (DApps) by imbuing them with unparalleled autonomy, efficiency, and interactivity. By marrying RSCs with IoC, Reactive Network is setting the stage for a transformative blockchain era, characterized by enhanced interoperability and the robust, user-friendly foundation Web3 demands.
