Fees
Fees in SparX Wallet
When interacting with the TVM networks through SparX Wallet, every transaction or contract interaction requires the payment of a fee. These fees, known as blockchain fees, are essential for maintaining the network's security and functionality.
What Are Blockchain Fees?
Blockchain fees are small amounts of the network's native cryptocurrency paid to validators who process and confirm transactions on the Everscale network. These fees are incurred whenever your address initiates actions such as sending tokens, deploying contracts, or interacting with decentralized applications (dApps).
Purpose of Fees
Validator Compensation: Fees reward validators for their work in securing the network and processing transactions. Validators play a crucial role by validating blocks and ensuring the integrity of the blockchain.
Network Security: By attaching a cost to transactions, fees help prevent spam and denial-of-service attacks, as malicious actors would incur significant costs to flood the network.
Efficient Resource Allocation: Fees help prioritize transactions during periods of high network activity, ensuring that the network remains efficient and responsive.
How Fees Are Calculated
When you initiate a transaction, SparX Wallet automatically calculates the required fee based on current network conditions and the specifics of your transaction. The fee is displayed before you confirm the transaction, providing full transparency.
Paying Fees in SparX Wallet
To ensure smooth transactions:
Sufficient Balance: Make sure you have enough native tokens in your wallet to cover both the transaction amount and the associated fee.
Review Fees: Before confirming a transaction, review the fee displayed in the transaction summary.
Confirmation: Approve the transaction by confirming the details and authorizing it with your password or biometric authentication.
If you attempt a transaction without sufficient funds to cover the fee, SparX Wallet will notify you, and the transaction will not proceed until adequate funds are available.