Fixed Gas Price
This causes transaction incompatibility between Klaytn and Ethereum. While Ethereum users choose gas price for their transactions, Klaytn charges flat rate and does not allow users to indicate their own gas prices. For all transactions in Klaytn, gas price is set to 25 ston (0.000000025 KLAY), and this value does not change unless Governance Council (GC) decides to change.
The reason behind of this fixed gas price is to remove unnecessary fee auctioning. In Ethereum (and many other blockchains), miners tend to pick transactions with higher gas price to maximize their profits given with limited throughput and rather long block generation interval. In order to expedite transactions, Ethereum users write down higher fees because they know miners will pick those high-paying-transactions.
Well, the same does not apply to Klaytn simply because:
- Klaytn’s performance is sufficient for a large volume of transactions (4000+ TPS)
- Klaytn block generation takes place for every second (1s block interval) so users won’t wait long even if they miss the upcoming block
- GC members do not respond much to fees they collect because it only takes insignificant share of block rewards
We only charge fees to prevent spams, not to earn profits. To this reason, we use fixed gas price.