On the 6th of April we announced our BlockTalk – the new smart way for BURST ATs. The goal of BlockTalk is to make it easy for developers to create, debug, and deploy code into the Burst blockchain (code gets translated into CIYAM bytecode in form of the so-called Automated Transactions – AT).
Besides the launch of such a developer suite we also need to be aware that BURST ATs keep attractive in the future. This is being addressed with updated fees for deployment and running the ATs.
Unlike other blockchains, BURST does not have its own colored coin for running ATs. Registering and running ATs is supported by fees and the AT balance in BURST. With the current fees for ATs any substantial increase in BURST price can make AT applications infeasible.
While in a recent hard-fork (CIP03) the new minimum fee of 0.00735 BURST was introduced (previous value was 1 BURST), the adaptation for the AT handling was forgotten or overlooked. Also the number of function calls an AT can do within a block was not adjusted which forces a complex AT to be dispensed over several blocks before the AT got finished.Thus, in this proposal a new fee scheme for AT creation and execution is suggested.
The parameters for the AT fee structure are handled in the AT_Constants.java file of Burst Reference Software (BRS). We propose to update the parameters in the following way:
In the following table typical registering costs as well as runtime ones are listed (all values are in Burst and numbers in parenthesis are the cost with the current AT fees):
Taking the assumption of one BURST at one USD as a possible future scenario, it is clear that the current AT fees can make most applications infeasible. In this scenario, a low complexity AT (see table above) would cost around 7 USD per run (i.e. per transaction received). A more complex case can cost around 2’000 USD per run.
In this CIP20 a new fee table is proposed (version 2).
The change will require a hard-fork. Any ATs created before the fork will be subject to the previous set of fees and will operate without any change. Only ATs created after the fork will run under the new fees.
Please read here the CIP20.
Comments on github can be added here
We hope for your support – so that we can further advance the development of BlockTalk – the new intelligent way for BURST ATs.
For any feedback or discussion leave a comment here or on the CIP20 or contact direct frank_the_tank, jjos or burstjack on discord