Whopper Coin was recently released in Russia using the Waves platform, but what is the native fee a user has to pay when sending the Whopper coin back to the establishment? If a customer receives Whopper coin from Burger King, now the customer would have to redeem these coins by sending it back to Burger King. How are the fees paid? Are the fees in Whopper Coin or the main Waves coin? How did they solve this inherit problem when issuing coins like this on top of an existing blockchain platform.
asked Aug 31, 2017 at 2:51
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1 Answer
On the Waves platform, it is possible for transaction fees to be paid in tokens. To do this, a full node with mining capabilities (anyone can run a node, but at least 10,000 WAVES is required to generate blocks) has to accept the particular token as a fee.
Thus, Burger King Russia could either host a full node or persuade another full node to accept Whoppercoin. Burger King Russia plans to have an app on both the Apple Store and on Google Play for the loyalty program. These apps will likely make use of the Waves Node REST API by specifying the fee asset as Whoppercoin.
Here is the relevant API:
POST /assets/broadcast/transfer
Here are the relevant parameters:
"type" - Transaction type (4 for TransferTransaction)
"id" - Id(hash) of transaction, Base58-encoded
"assetId" - Asset ID in Base58 format, effectively equals transaction id
"timestamp" - Transaction timestamp
"sender" - Sender account's address, Base58-encoded
"senderPublicKey" - Sender account's public key, Base58-encoded
"recipient" - Recipient account's address, Base58-encoded
"feeAsset" - Asset ID of transaction fee, currently is null, i.e. WAVES
"fee" - Amount of transaction fee
"attachment" - Attachment, Base58-encoded
"signature" - Signature of all transaction data, Base58-encoded
Here is a request JSON example:
{
"type": 4,
"id": "3xPyT73TGV7c5PKEJpicwSsX7PXyi3Lm1JFNQivFRLuy",
"sender": "3NBVqYXrapgJP9atQccdBPAgJPwHDKkh6A8",
"senderPublicKey": "CRxqEuxhdZBEHX42MU4FfyJxuHmbDBTaHMhM3Uki7pLw",
"recipient": "3Mx2afTZ2KbRrLNbytyzTtXukZvqEB8SkW7",
"assetId": "E9yZC4cVhCDfbjFJCc9CqkAtkoFy5KaCe64iaxHM2adG",
"amount": 5500000000,
"feeAsset": null,
"fee": 100000,
"timestamp": 1479222433704,
"attachment": "BJa6cfyGUmzBFTj3vvvaew",
"signature": "2TyN8pNS7mS9gfCbX2ktpkWVYckoAmRmDZzKH3K35DKs6sUoXHArzukV5hvveK9t79uzT3cA8CYZ9z3Utj6CnCEo"
}
On Waves platform right now, you can buy Whoppercoin on the Waves DEX, and the fee is 0.003 Waves. I demonstrated this here: https://youtu.be/ZAFZNEwIooM
Additionally, you can transfer Whoppercoin between accounts, and the fee is 0.001 Waves. I demonstrated this here: https://youtu.be/OYHPlgj0HjY
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So the full node with 10,000 Waves will pay for the fees in Waves while taking in WhopperCoin? Is there more technical details of how this would work when paying fees in the child coin? Sep 6, 2017 at 18:23
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1The full node with mining capabilities can be configured to accept Whoopercoin as a fee. See this link for details on the API: github.com/wavesplatform/Waves/wiki/… Sep 6, 2017 at 23:00
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But this is assuming that miner is its turn to mine. What if that miner doesnt mine the current block. Does the whoppercoin user that sent the coin have to wait until that particular miner mines it? Sep 7, 2017 at 16:05