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Glossary

ZIP 317

The Zcash Improvement Proposal that defines the conventional transaction fee: 5,000 zatoshis per logical action, with a minimum of two actions.

ZIP 317, "Proportional Transfer Fee Mechanism," replaces a flat fee with one that depends on a transaction's inputs and outputs, so transactions that cost the network more to process pay more.

The formula is conventional_fee = marginal_fee x max(grace_actions, logical_actions), with a marginal fee of 5,000 zatoshis per logical action and 2 grace actions. A minimal transaction therefore costs 10,000 zatoshis (0.0001 ZEC). Logical actions are counted from the transparent, Sprout, Sapling and Orchard parts of a transaction.

In the official index, revision 0 is Active; revision 1 (which adds Ironwood, for NU6.3) and revision 2 are still Drafts, which is a document status. See the ZIP entry.

Explained in context: Zcash Transaction Fees Explained →

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