[Hilarium ICO Talk] Regarding Blockchain Transaction Fee

Hello Everyone, this is Chris Kim from the HILARIUM FOUNDATION. 

"Get everywhere. Use everywhere."

Hilarium is preparing for a reward membership platform that can 

be used anytime, anywhere. 

Barriers to the practical application of blockchain technology are 

transaction fees and transaction speed.

Today’s post is about the issues regarding the fees of Blockchain

technology. 

Currently, blockchain technology relies on transaction fees to 

block spams. 

These transaction fees act as a barrier to prevent blockchain from

being used in micro payment transactions. 

In order to compete with the centralized method, blockchain 

applications should be able to offer free transactions with no charge. 

In addition, all blockchains need a solution to prevent evil users from

wasting the available network capacity into useless transactions. 

In markets that have higher transaction values than commission 

fees, like financial market, users are less reluctant to small 

commission fees.

In contrast, users in markets like reward membership application 

of blockchain technology tend to be more reluctant to paying 

commissions. 

Users expect a certain amount of free service regardless of its 

quality. 

As a countermeasure of evil network, Hilarium will secure enough 

network space through EOS platform, and as a rule, operate without

fees.

Nonetheless, a policy of minimum commission will be introduced 

in order to reduce the amount of money and contribute to the rise 

of coin value.  

We will provide a distinct and most suitable solution for the 

micropayment market, such as increasing value by controlling the 

amount of coin in circulation.