Merge pull request #2661 from patricklodder/1.14.5-fee-recommendation-doc
doc: write out the fee recommendation
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doc/fee-recommendation.md
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doc/fee-recommendation.md
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Dogecoin Fee Recommendation
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----------------------------
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_last updated for 1.14.5_
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The Dogecoin chain has a relatively low block interval, 1 megabyte blockspace
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and aims to provide a cheap means for people to transact. Therefore, the biggest
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threat to the Dogecoin chain as a whole is spam and in 2014, a transaction fee
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and dust disincentive were introduced, to combat on-chain spam.
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Dogecoin Core implements a number of defaults into the software that reflect the
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developers' recommendations towards fees and dust limits, that at the moment of
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release represent the developers best estimate of how these limits should be
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parametrized. The recommended defaults, as implemented in the Dogecoin Core
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wallet, are:
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- **0.01 DOGE per kilobyte** transaction fee
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- **1.00 DOGE** dust limit (discard threshold)
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- **0.001 DOGE** replace-by-fee increments
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The wallet rejects transactions that have outputs under the dust limit, and
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discards change to fee if it falls under this limit.
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Note: The recommended dust limit is expected to be lowered in a follow-up
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release, once enough miners and relay nodes have adopted newly introduced
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relay dust limits touched upon below.
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Note: In the past, Dogecoin has enforced a rounding function in the fee
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mechanism. As of version 1.14.5, this is no longer the case, and fees are
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calculated over the exact size of a transaction. For example, a 192 byte
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transaction only has to pay `0.01 / 1000 * 192 = 0.00192` DOGE fee.
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## Miner default inclusion policies
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The default values for miners to include a transaction in a block has been set
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to exactly the recommended fee of **0.01 DOGE/kB.** Dust limits are defined by
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the miner's mempool policy, see below.
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## Relay and mempool policies
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The relay and mempool acceptance policies are lower than the recommendations
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by default, to allow for a margin to change recommendations in the future (or
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user preference) without the need for an adopted software release in advance.
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This greatly simplifies future policy recommendations. As historically, most
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relay nodes do not change these default settings, these often represent an
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absolute mininum
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### Transaction fee
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The default minimum transaction fee for relay is set at **0.001 DOGE/kB**,
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exactly one-tenth of the recommended fee. This gives miners and relay operators
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a 10x downward margin to operate within from a spam management perspective.
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### Dust limits
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The mempool logic implements 2 dust limits, a hard dust limit under which a
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transactions is considered non-standard and rejected, and a soft dust limit
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that requires the limit itself to be added to the transaction fee, making the
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output economically unviable.
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- The hard dust limit is set at **0.001 DOGE** - outputs under this value are
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invalid and rejected.
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- The soft dust limit is set at **0.01 DOGE** - sending a transaction with outputs
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under this value, are required to add 0.01 DOGE for each such output, or else
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will be considered to have too low fee and be rejected.
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### Replace-by-fee and mempool limiting increments
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The increments used for replace-by-fee and limiting the mempool once it has
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reached its locally defined maximum size, is by default set at one-tenth of
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the relay fee, or **0.0001 DOGE**.
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