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Can someone explain the algorithm to compute Monero transaction fee?

I have seen somewhere it is based transaction size (or something called "weight"?), and some other vague explanation. But I would like to know more deeply how it works.

EDIT: This is basically the same question as How does the dynamic fee calculation work? but the answer to that question looks out of date. I would like to know how it works in the protocol today.

PyrolitePancake
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1 Answers1

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Can someone explain the algorithm to compute Monero transaction fee?

The computation of the current dynamic fee algorithm is explained, in detail, here: https://web.getmonero.org/2017/12/11/A-note-on-fees.html.

I have seen somewhere it is based transaction size (or something called "weight"?), and some other vague explanation.

"weight" is just another term for size. However, It's not just tx weight that is used in the calculation.

But I would like to know more deeply how it works.

https://web.getmonero.org/2017/12/11/A-note-on-fees.html

jtgrassie
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