How fees are paid
Gas can be paid in either ETH in an optimized rate
Gas optimization mechanism
In a Layer 2 solution, the transaction fee has two components, namely the "L2 gas fee" and the "L1 data fee". The L2 gas fee is similar to the transaction fee on Layer 1 networks like Ethereum, and it is the fee charged to users for executing transactions on the Layer 2 network. The L1 data fee, on the other hand, includes both fixed costs and a variable fee known as call data, and it represents the cost of publishing and storing a batch of transactions on the Layer 1 network.
Therefore, the total fees paid by a user would be the L1 data fee amortized over the batch, plus the L2 execution fee.
There are several ways that the Hyper Chain team has optimized gas usage on the network. For example, Hyper Chain uses a technique called batch processing, where multiple transactions are grouped together and executed in a single block, reducing the total amount of gas required. The protocol also uses HC as the gas token to pay for transaction fees and can be purchased at a discount, further reducing the cost of transactions.
Additionally, Hyper Chain implements a technique called lazy loading, where only the necessary parts of smart contracts are loaded into memory, reducing the amount of gas required for contract execution. The team has also optimized the bytecode of popular smart contracts to reduce their size and gas usage.
Overall, these gas optimization techniques make transactions and smart contract execution more affordable and scalable on the Hyper Chain network, which is important for attracting developers and users to the platform.
How fees are paid
Fees in Hyper Chain can be paid using HC, the native cryptocurrency of the Hyper Chain network. Users can pay transaction fees in HC to execute transactions on the network. Additionally, hardware accelerators (i.e. Sequencers & Aggregators) who process transactions and validate blocks are rewarded in HC for their efforts.
It's worth noting that since Hyper Chain is a Layer 2 scaling solution on top of the Ethereum network, users may also need to pay gas fees in ETH to interact with the Ethereum network, such as when moving funds between the Ethereum network and Hyper Chain. These gas fees are typically paid in small amounts of ETH, and are used to compensate Ethereum miners for processing and validating transactions on the Ethereum blockchain.
To put it simple, the gas fees on Hyper Chain can be calculated as
where the GasUsed is the amount of computational resources required to execute a transaction, measured in gas units. The GasPrice is the amount of cryptocurrency (in wei) that the sender is willing to pay per unit of gas.
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