mirror of https://github.com/zcash/zips.git
Rename zip-reduce-shielded_tx_fee.rst to zip-0313.rst .
Signed-off-by: Daira Hopwood <daira@jacaranda.org>
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Daira Hopwood
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zip-0313.rst
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zip-0313.rst
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::
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ZIP: 313
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Title: Reduce Default Transaction Fee
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Status: Reserved
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Title: Reduce Default Transaction Fee to 1000 zatoshis
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Owners: Aditya Bharadwaj <nighthawkwallet@protonmail.com>
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Status: Proposed
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Community Status: Request for comments : https://forum.zcashcommunity.com/t/zip-reduce-default-shielded-transaction-fee-to-1000-zats/37566
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Category: Wallet
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Pull-Request: <https://github.com/zcash/zips/pull/408>
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Discussions-To: <https://forum.zcashcommunity.com/t/zip-reduce-default-shielded-transaction-fee-to-1000-zats/37566/41>
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Created: 2020-10-11
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License: MIT
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Terminology
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===========
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The key words "MUST" and "SHOULD" in this document are to be interpreted as
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described in RFC 2119. [#RFC2119]_
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The term "conventional transaction fee" in this document is in reference
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to the value of a transaction fee that is conventionally used by wallets,
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and that a user can reasonably expect miners on the Zcash network to accept
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for including a transaction in a block.
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Abstract
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========
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The goal of this ZIP is to gather wallet developers, miners & Zcash users
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for social consensus on reducing the conventional transaction fees and
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to get the Zcash conventional transaction fee reduced from 10,000 zatoshis
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to 1,000 zatoshis.
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In addition, this specification harmonizes transaction fees between different
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kinds of transaction (involving shielded addresses, transparent addresses, or
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both), as proposed in [#ecosystem-wide-tx-fee]_.
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Motivation
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==========
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The default transaction fee presently is 0.0001 ZEC or 10,000 zatoshis.
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At a ZEC market price of USD 100, for example, a user can send 10,000
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transactions for 1 ZEC. This works out to 1 U.S. cent per transaction and
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it rises with any increase in the price of ZEC.
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With increase in light wallet adoptions on mobile clients, many users
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will be new to the Zcash eco-system. And the fact that the
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transaction fees are paid by the sender (not the receiver) is
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new information to users who might use Zcash for e-commerce
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and app interactions that might result in several transactions each day.
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Privacy must not cost a premium. The cost of 10 shielded transactions
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buys 1GB of mobile data `in India today <https://www.cable.co.uk/mobiles/worldwide-data-pricing/>`.
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Zcash users must be able to do more with their ZEC balance
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than worry about paying the premium for shielded transactions.
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With reduced fees, it will be cheaper to transact on the Zcash network,
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while also inviting novel use cases for privacy-preserving applications
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that would benefit from the privacy, security, and programmable money
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aspects of the Zcash chain.
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The harmonization of fees between different kinds of transaction can be
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expected to improve usability, consistency, and predictability.
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Requirements for adoption
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-------------------------
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The change to the conventional transaction fees should be undertaken soon
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as it gets difficult to gain consensus with the growth in the network
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of wallets, exchanges, miners and third parties involved.
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The following parties need to be part of the consensus:
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* Support from mining groups is required to include the lowered default fee transactions in the next block.
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* Wallet developers need to provide commitment to update the software to use the new fee.
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* Zcash documentation and community outreach must be undertaken to make the change known.
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Security and privacy considerations
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-----------------------------------
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Unique transaction fees may reveal specific users or wallets or wallet versions,
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which would reduce privacy for those specific users and the rest of the network.
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Hence this change should be accepted by a majority of shielded transaction
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software providers before deploying the change.
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Varying/unique fees are bad for privacy. For the short term before blocks get full,
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it is fine for everyone to use a constant fee, as long as it is enough to compensate
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miners for including the transaction. [#nathan-1]_
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Long term, the issue of fees needs to be re-visited in separate future proposals as the
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blocks start getting consistently full. New ZIPs with flexible fees, such as [#ian-1]_,
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along with scaling solutions need to be evaluated and applied.
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Denial Of Service Vulnerability
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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A transaction-rate-based denial of service attack occurs when an attacker generates enough transactions over a window of time to prevent legitimate transactions from being mined, or to hinder syncing blocks for full nodes or miners.
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There are two primary protections to this kind of attack in Zcash: the block size limit, and
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transaction fees. The block size limit ensures that full nodes and miners can keep up with
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the block chain even if blocks are completely full. However, users sending legitimate
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transactions may not have their transactions confirmed in a timely manner.
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Variable fees could mitigate this kind of denial of service: if there are more
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transactions available than can fit into a single block, then a miner will typically
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choose the transactions that pay the highest fees. If legitimate wallets were to
|
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increase their fees during this condition, the attacker would also increase the
|
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fees of their transactions. It is sometimes argued that this would impose a cost
|
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to the attacker that would limit the time window they can continue the attack.
|
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However, there is little evidence that the actual costs involved would be a sufficient
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disincentive.
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This proposal does not alter how fees are paid from transactions to miners. However,
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it does establish a fixed flat fee that wallets are expected to use. Therefore during a
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transaction rate denial-of-service attack, legitimate fees from those wallets will not
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rise, so an attacker can extend an attack for a longer window for the same cost.
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This ZIP does not address this concern. A future ZIP should address this issue.
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Wallet developers and operators should monitor the Zcash network for rapid growth
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in transaction rates.
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Activation
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==========
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Wallets implementing this specification will use a default fee of 0.00001 ZEC
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(1000 zatoshis) from block 1,080,000.
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Support
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=======
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The developers of the following wallets intend to implement the reduced fees:
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* Zbay;
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* Zecwallet Suite (Zecwallet Lite for Desktop/iOS/Android & Zecwallet FullNode);
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* Nighthawk Wallet for Android & iOS;
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* zcashd built-in wallet.
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Acknowledgements
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================
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Thanks to Nathan Wilcox for suggesting improvements to the denial of service section.
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Thanks to Daira Hopwood for reviewing and fixing the wording in this ZIP.
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References
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==========
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.. [#RFC2119] `Key words for use in RFCs to Indicate Requirement Levels <https://www.rfc-editor.org/rfc/rfc2119.html>`_
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.. [#nathan-1] `Conventional Shielded Fees <https://forum.zcashcommunity.com/t/zip-reduce-default-shielded-transaction-fee-to-1000-zats/37566/40>`_
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.. [#ian-1] `Ian Miers. Mechanism for fee suggester/oracle <https://forum.zcashcommunity.com/t/zip-reduce-default-shielded-transaction-fee-to-1000-zats/37566/31>`_
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.. [#zooko-1] `Zooko Wilcox. Tweet on reducing tx fees <https://twitter.com/zooko/status/1295032258282156034?s=20>`_
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.. [#zooko-2] `Zooko Wilcox. Tweet on sharing tx fee with wallet developer <https://twitter.com/zooko/status/1295032621294956545?s=20>`_
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@ -1,156 +0,0 @@
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::
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ZIP: 313
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Title: Reduce Default Transaction Fee to 1000 zatoshis
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Owners: Aditya Bharadwaj <nighthawkwallet@protonmail.com>
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Status: Proposed
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Community Status: Request for comments : https://forum.zcashcommunity.com/t/zip-reduce-default-shielded-transaction-fee-to-1000-zats/37566
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Category: Wallet
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Created: 2020-10-11
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License: MIT
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Terminology
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===========
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The key words "MUST" and "SHOULD" in this document are to be interpreted as
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described in RFC 2119. [#RFC2119]_
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The term "conventional transaction fee" in this document is in reference
|
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to the value of a transaction fee that is conventionally used by wallets,
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and that a user can reasonably expect miners on the Zcash network to accept
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for including a transaction in a block.
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Abstract
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========
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The goal of this ZIP is to gather wallet developers, miners & Zcash users
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for social consensus on reducing the conventional transaction fees and
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to get the Zcash conventional transaction fee reduced from 10,000 zatoshis
|
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to 1,000 zatoshis.
|
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|
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In addition, this specification harmonizes transaction fees between different
|
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kinds of transaction (involving shielded addresses, transparent addresses, or
|
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both), as proposed in [#ecosystem-wide-tx-fee]_.
|
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|
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Motivation
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==========
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The default transaction fee presently is 0.0001 ZEC or 10,000 zatoshis.
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At a ZEC market price of USD 100, for example, a user can send 10,000
|
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transactions for 1 ZEC. This works out to 1 U.S. cent per transaction and
|
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it rises with any increase in the price of ZEC.
|
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|
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With increase in light wallet adoptions on mobile clients, many users
|
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will be new to the Zcash eco-system. And the fact that the
|
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transaction fees are paid by the sender (not the receiver) is
|
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new information to users who might use Zcash for e-commerce
|
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and app interactions that might result in several transactions each day.
|
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|
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Privacy must not cost a premium. The cost of 10 shielded transactions
|
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buys 1GB of mobile data `in India today <https://www.cable.co.uk/mobiles/worldwide-data-pricing/>`.
|
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Zcash users must be able to do more with their ZEC balance
|
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than worry about paying the premium for shielded transactions.
|
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|
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With reduced fees, it will be cheaper to transact on the Zcash network,
|
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while also inviting novel use cases for privacy-preserving applications
|
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that would benefit from the privacy, security, and programmable money
|
||||
aspects of the Zcash chain.
|
||||
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The harmonization of fees between different kinds of transaction can be
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expected to improve usability, consistency, and predictability.
|
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Requirements for adoption
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-------------------------
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The change to the conventional transaction fees should be undertaken soon
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as it gets difficult to gain consensus with the growth in the network
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of wallets, exchanges, miners and third parties involved.
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The following parties need to be part of the consensus:
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* Support from mining groups is required to include the lowered default fee transactions in the next block.
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* Wallet developers need to provide commitment to update the software to use the new fee.
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* Zcash documentation and community outreach must be undertaken to make the change known.
|
||||
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||||
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Security and privacy considerations
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-----------------------------------
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Unique transaction fees may reveal specific users or wallets or wallet versions,
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which would reduce privacy for those specific users and the rest of the network.
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Hence this change should be accepted by a majority of shielded transaction
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software providers before deploying the change.
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Varying/unique fees are bad for privacy. For the short term before blocks get full,
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it is fine for everyone to use a constant fee, as long as it is enough to compensate
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miners for including the transaction. [#nathan-1]_
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|
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Long term, the issue of fees needs to be re-visited in separate future proposals as the
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blocks start getting consistently full. New ZIPs with flexible fees, such as [#ian-1]_,
|
||||
along with scaling solutions need to be evaluated and applied.
|
||||
|
||||
Denial Of Service Vulnerability
|
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
|
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A transaction-rate-based denial of service attack occurs when an attacker generates enough transactions over a window of time to prevent legitimate transactions from being mined, or to hinder syncing blocks for full nodes or miners.
|
||||
|
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There are two primary protections to this kind of attack in Zcash: the block size limit, and
|
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transaction fees. The block size limit ensures that full nodes and miners can keep up with
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the block chain even if blocks are completely full. However, users sending legitimate
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transactions may not have their transactions confirmed in a timely manner.
|
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Variable fees could mitigate this kind of denial of service: if there are more
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transactions available than can fit into a single block, then a miner will typically
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choose the transactions that pay the highest fees. If legitimate wallets were to
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increase their fees during this condition, the attacker would also increase the
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fees of their transactions. It is sometimes argued that this would impose a cost
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to the attacker that would limit the time window they can continue the attack.
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However, there is little evidence that the actual costs involved would be a sufficient
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disincentive.
|
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|
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This proposal does not alter how fees are paid from transactions to miners. However,
|
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it does establish a fixed flat fee that wallets are expected to use. Therefore during a
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transaction rate denial-of-service attack, legitimate fees from those wallets will not
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rise, so an attacker can extend an attack for a longer window for the same cost.
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This ZIP does not address this concern. A future ZIP should address this issue.
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||||
Wallet developers and operators should monitor the Zcash network for rapid growth
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in transaction rates.
|
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|
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Activation
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||||
==========
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||||
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Wallets implementing this specification will use a default fee of 0.00001 ZEC
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(1000 zatoshis) from block 1,080,000.
|
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|
||||
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Support
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=======
|
||||
|
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The developers of the following wallets intend to implement the reduced fees:
|
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* Zbay;
|
||||
* Zecwallet Suite (Zecwallet Lite for Desktop/iOS/Android & Zecwallet FullNode);
|
||||
* Nighthawk Wallet for Android & iOS;
|
||||
* zcashd built-in wallet.
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||||
|
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Acknowledgements
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================
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Thanks to Nathan Wilcox for suggesting improvements to the denial of service section.
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Thanks to Daira Hopwood for reviewing and fixing the wording in this ZIP.
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||||
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References
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==========
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.. [#RFC2119] `Key words for use in RFCs to Indicate Requirement Levels <https://www.rfc-editor.org/rfc/rfc2119.html>`_
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.. [#nathan-1] `Conventional Shielded Fees <https://forum.zcashcommunity.com/t/zip-reduce-default-shielded-transaction-fee-to-1000-zats/37566/40>`_
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.. [#ian-1] `Ian Miers. Mechanism for fee suggester/oracle <https://forum.zcashcommunity.com/t/zip-reduce-default-shielded-transaction-fee-to-1000-zats/37566/31>`_
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.. [#zooko-1] `Zooko Wilcox. Tweet on reducing tx fees <https://twitter.com/zooko/status/1295032258282156034?s=20>`_
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.. [#zooko-2] `Zooko Wilcox. Tweet on sharing tx fee with wallet developer <https://twitter.com/zooko/status/1295032621294956545?s=20>`_
|
||||
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