Polys represent the currency unit used to pay fees on the Topl blockchain. Any user who attempts to broadcast a transaction must include a set number of Polys to ensure that their transaction is included in a new block and thus added to the ledger.
This fee acts as an incentive to the nodes running the blockchain code to continue to relay messages and keep the network available and secure. The amount of Polys required for a successful transaction is currently fixed by the network.
1 nanopoly (10^-9 polys) is the smallest unit to which a poly can be divided. The denomination must be used when interacting with the Topl blockchain.
So instead of entering a value of 1 poly to pay a transaction fee, you would enter a fee 10^9 nanopolys.
Currently, the transaction fee for the Valhalla testnet is set to 100 nanopoly.
On the production mainnet, transaction fees will be set to 1 poly or 10^9 nanopolys.
Updated 8 months ago