Gas and Fees

To prevent Distributed Denial of Service (DDoS) attacks, all transactions that change the blockchain’s ledger state (non-read-only) require a certain amount of Gas to be consumed. The calculation method of Gas fee on AxiomLedger is similar to Ethereum’s.

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Basic Description

Gas is a common mechanism in blockchains. The original intention of Gas is to prevent users from DDoS attacks on the blockchain system. The Gas model is similar to cloud computing, except that cloud computing charges by time units, while Gas charges based on the computational resources consumed:

$\text{Gas Fee}=\text{Gas Used} \times \text{Gas Price}$

where Gas Fee is the total cost that a user need to pay for the transaction, Gas Used is the computational resources consumed during execution, Gas Price is the price per Gas unit.

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Gas Limit

Some smart contracts may have infinite loop by accident. To prevent costing too much Gas, users can set Gas limit manually, otherwise AxiomLedger will automatically set Gas limit to $10^8$.