Most of the cryptocurrencies impose transaction fee to users and provide rewards to miners or control the worthless transactions. But in the users’ perspective, this is a system rather unpleasant since they need to pay fees for every step for using cryptocurrency.
To improve such difficulty, APIS applies “Mineral System”.
How to use
Mineral(MNR, hereinafter) is being distributed according to the contribution to APIS network and if users are holding more than 1APIS, they can pay for at least one transaction a week with the distributed MNR. The accumulated MNR is related to their holdings and the maximum MNR holding is related to the wallet’s total number of trading.
MNR can be purchased and users can get additional MNR related to their purchase.
MNR can be used only for transaction fee payment and users can’t transfer them to another wallet.
MNR will be distributed if users hold APIS in their wallet. MNR can be used only for transaction fee payment and they can’t be transferred. Users can pay for at least one transaction with MNR. Users can make a large purchase of MNR via Wallet.
Due to the nature of Ethereum network with numbers of transactions, the fee is rather expensive to transfer or call the contract at the right time and it costs even more to develop/deploy a contract. At the same time, users need to pay for the smartcontract they use.
Users can get a defined amount of bandwidth by holding EOS and steaking but as the contract deploy and sending increase, they need to hold huge amount of EOS for its useage and individual users got no choise but to rent a bandwidth steaking and pay the high fee.
For development or large transfers, users can reduce the cost by purchasing MNR and the fee can be deducted with membership system, since the developer pays for the fee of dApp users instead.
Furthermore, when paying the entire fee by MNR, users can transfer the exact amount, precisely they want. Users can use dApp for less cost with Mineral system and Wink system above. MNR is distributed automatically according to the transaction and APIS holdings and with just 1 APIS, users get to send a transaction for free.