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ION Design Document

Transaction and Operation Rate Throttling

Proof-of-Fee

Normalized Fee

Value Locking Algorithm

If you want to write transactions containing more than 100 operations, you are required to lock some BTC for exactly 4500 blocks using a time locked transaction.

The formulae to calculate the required lock amount can be calculated using:

requiredLockedBtc = numberOfOpsPerTransactionDesired x estimatedNormalizedFee x normalizedFeeToPerOperationFeeMultiplier x valueTimeLockAmountMultiplier

where the following are constants:

normalizedFeeToPerOperationFeeMultiplier = 0.001
valueTimeLockAmountMultiplier = 60000

For instance, if you would like to write batches of 1000-operation transactions, substituting constant values and estimated normalized fee of 0.000011 you'll get:

1000 x 0.000011 x 0.001 x 60000 = 0.66 BTC

This means you will need to lock 0.66 BTC in order for transactions of 1000 operations to be accepted by ION.