P-20 Blockchain
  • Introduction
    • Overview of P-20 Blockchain
    • Introduction to PVT-USD Stablecoin
    • Key Features and Benefits
    • P-20 Blockchain Whitepaper
  • Terminology
    • Explanation of Key Terms and Concepts
  • Getting Started
    • Installing and Setting Up P-20 Blockchain
    • Creating a P-20 Wallet
    • Obtaining PVT-USD Coins
  • Wallets
    • Overview of Wallet Options
    • Choosing the Right Wallet
    • Wallet Security Best Practices
  • Wallet Guide
    • MetaMask Integration
    • Web Wallet
    • App Wallet
    • Paper Wallet
    • Command Line Wallet
  • P-20 Grants Program
    • Overview of the $100 Million Grant Program
    • Process for Applying and Receiving Grants
  • Command Line Interface (CLI)
    • Installation and Setup Guide for the P-20 Tool Suite
    • Sending and Receiving Coins via CLI
    • Deploying Smart Contracts
  • Using PVT-USD
    • Sending and Receiving PVT-USD Coins
    • Checking Transaction History
    • Managing Wallet Balances
    • Gas Fee Calculation in P-20
    • Exploring Privacy Features of PVT-USD
  • Developing on P-20 Blockchain
    • Programming Model for Native Chain Development
    • Clients and Runtimes for Development
    • Onchain Programs and Contract Development
    • Integrating with EVM for Smart Contract Development
  • EVM Integration
    • Introduction to EVM Integration in P-20 Blockchain
    • EVM Bridge Functionality and Usage
    • EVM JSONRPC API Reference
    • Airdrop Functionality for EVM Integration
  • Simple Smart Contract Tutorial
    • Step-by-Step Guide to Developing and Deploying a Simple Smart Contract on P-20 Blockchain
  • Exchange Integration
    • Adding PVT-USD to Your Exchange
  • Architecture
    • Overview of P-20 Blockchain Architecture
    • Components and Layers of the P-20 Network
    • Consensus Mechanism and Transaction Processing
  • RoadMap
    • Roadmap for Sustainable Development
  • Support and Troubleshooting
    • Frequently Asked Questions
    • Troubleshooting Common Issues
    • Community and Support Resources
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  • Gas Price

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  1. Using PVT-USD

Gas Fee Calculation in P-20

P-20, as a cutting-edge DAG-based blockchain, introduces a unique gas fee calculation method that differs from traditional miner-based blockchain networks. In P-20, transactions are processed by the consensus algorithm itself, eliminating the need for miners. The gas fee calculation in P-20 involves two essential components: gas limit and gas price.

Gas Limit

P-20 sets a gas limit, representing the maximum computational effort allocated to a transaction. This limit ensures the availability of computational resources and prevents potential infinite loops. Each operation within a smart contract consumes a specific amount of gas, and the gas limit restricts the overall computational effort allowed for P-20 transactions.

Gas Price

The gas price in P-20 signifies the cost per unit of gas, denominated in P-20 tokens. It represents the fee users are willing to pay to prioritize their transactions within the DAG-based consensus. Higher gas prices incentivize faster inclusion of transactions in P-20 blocks.

The total transaction fee on P-20 is calculated by multiplying the gas limit by the gas price:

Total Fee = Gas Limit * Gas Price

By customizing the gas limit and gas price, users can optimize their transaction fees according to their preferences and network conditions. This flexibility enables cost-effective transactions while leveraging the benefits of the DAG-based consensus algorithm in the P-20 blockchain.

Additionally, P-20 boasts an impressive transaction speed of up to 300,000 transactions per second (TPS), ensuring swift and efficient processing of transactions within the network.

Understanding the distinctive gas fee calculation mechanism in P-20, coupled with its high TPS capability, empowers users to make informed decisions and ensures efficient and tailored transactions within the DAG-based ecosystem.

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Last updated 1 year ago

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