What is the transaction fee and who pays it?

General
1

Hi guys,
I’m considering to accept ZCash for micropayments/donations.
I am wondering how high the transaction fees are, and how they are billed.
When Alice issues a transaction of 1.0 ZEC to Bob and tx fees are 0.01, does
A. Bob retrieve 0.99 ZEC and Alice’s wallet is billed with 1.0 ZEC, or
B. Bob retrieves 1.0 ZEC and Alice’s wallet is billed with 1.01 ZEC?

Regarding the amount of fees I have found the estimatefee rpc command for zcashd:

estimatefee nblocks
Estimates the approximate fee per kilobyte
needed for a transaction to begin confirmation
within nblocks blocks.

-1.0 is returned if not enough transactions and
blocks have been observed to make an estimate.

For me it always returns -1 – what do I need to do to see a proper value? And how do I know how many bytes a transaction will have?

2

B. Bob retrieves 1.0 ZEC and Alice’s wallet is billed with 1.01 ZEC.

Transaction fees are then distributed to the miner that mined the blocks containing this transaction.

For the estimatefee command, I guess that there is not enough transactions now (blocks are far from being full).

1 Like