Tue, 26 June 2018
PoEx announces a reduction in Proof of Existence Docproof Certifications Fees from 0.5 to 0.25 mBTC
While changes in the USD-BTC exchange rate tend to capture all the headlines, the more important figure for purely Bitcoin-based services is the accepted fee rate per byte of data. As miners give priority to transactions with higher fees, the average fee rate can rise and fall based on demand.
When we embed your docproof in the Bitcoin blockchain, we rely on a median fee estimate that aims to give your transaction priority without being excessively high. Up until now we have relied on adjusting the Docproof Certification Fee manually to stay in line with average Bitcoin fees.
For the latest release of our open-source Proof of Existence software, we’ve switched to a dynamic fee calculation. The software determines the certification fee automatically based on the current estimated transaction fee rate, rounded up to the nearest 0.25 mBTC (0.00025 BTC). Please consult the Proof of Existence home page for the latest fees.
If you’re currently running an instance of our software, then after upgrading:
simply remove the
documentPrice setting from your configuration file to take
advantage of the new dynamic fees feature.
Proof of Existence is Open Source
Did you know Proof of Existence is Open Source software? The code to run your own instance, compare to our public service, add your own ideas or request features is all available on the Proof of Existence website. If you have ideas for features, please let us know here: Proof of Existence.