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RE: Information Finding Championship - Season 1: Round 9 entry - Cryptocurrency

in #informationfinding • 7 years ago

Great entry and article! I think this has been one of the most helpful I've seen so far.

I do have one question though. This part..

for the first time ever makes it possible to transfer value without any fees.

That was in regards to tangle, but it was my understanding that steemit/steem also does this? Doesn't it? No transaction fees? Or am I wrong?

Also I've seen other newer coins which are claiming to do that as well, I've seen it around a few times.

7 years ago in #informationfinding by
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     7 years ago 

    Yes, you're right.

    The Steem blockchain itself has 0 fee's and instead uses a 'bandwidth allocation' algorithm. You're allotted an amount of available bandwidth to use based on your Steem Power balance and it regenerates over time. Most exchanges do have fee's somewhere to pay for their employees and infrastructure.

    But maybe IOTA was the first to make fee-free transactions.

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