In Wolfram Warptangent (Monero v0.10), a new fee structure was introduced, in addition to decreasing the minimum tx fee. What is the current fee structure?
2 Answers
Two weeks after the v3 fork, nominal fees will decrease from 0.01 monero/kB to 0.002 monero/kB. At the same time, the fee multipliers used for priority determination will change from x1, x2, x3 to x1, x20, x166. These numbers are chosen so that using x166 compensates a miner for the loss of block reward incurred by pushing the block size substantially over the median of the last N blocks. In simplewallet, those extra fee tiers are selected with set priority X, with X from 1 to 3, and those will map to the above multipliers for all subsequent transactions.
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Previously, the fee structure was 0.01 XMR per kilobyte. Now it is 0.002 XMR per kilobyte. So if a transaction is 5 kb big, it will cost 0.002 * 5 = 0.01 XMR, whereas previously it would have cost 0.01 * 5 = 0.05 XMR.
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