Gas Fee in Aeternity

Hi Guys,

I wanted to know how much is the minimum Gas fees in Dollars to submit a transaction.

According to a post (link)

We need to pass

1ae6 as gas fee
1ae9 as miner fees

on Every transaction

I wanted to understand how do I calculate it to the USD ?

Does 1ae6 mean (1 AE / 6 ) = (0.0916/6) (USD) = 0.01526666666 USD

Sorry If I am sounding Naive :slight_smile:

It sounds like you missed something when reading the linked post, in fact it doesn’t use the word fee anywhere…

1M aetto tokens (1e6, but I find the metric prefixes easier to use) is the minimum gas price according to protocol. The miners can never lower this, but they can raise it. The default (and de-facto standard) minimum gas price today is 1G aetto tokens (1e9).

To calculate the fee you need to know how much gas a transaction use, let’s use a SpendTx as an example. It costs: 15k + 20 * byte_size_of_tx gas, which depending on the message/payload ends up at around 17k gas. So the minimum fee (a higher fee is of course allowed, and means the miners will pick it up faster if there is congestion) is thus: 17k * 1G = 17T (1.7e13) aetto token.

Since 1 AE token is 1E (1e18) aetto tokens that means:

(1.7e13 / 1e18) * 0.0916 = 1.557e-6 USD (== 0.0000015572 USD)