NEM will be updating its software to version 0.6.82. This release will bring a new and lower fee schedule and will also introduce a new API for looking up a transaction by hash which is used in the new Apostille module in NanoWallet. NEM will also increase its message size from 160 to 320 bytes.
The new fee structure will take effect at block height 875000, which is roughly at the end of November.
This is a mandatory update for all nodes by the end of November and Supernodes have until November 13th to updated and remain a part of the program.
New fee structure:
1) Transfer Transaction:
a) Non-mosaic XEM transfers pay 1 XEM per 10,000 XEM transferred, capped at 25 XEM. Transactions under 20,000 XEM pay 1 XEM.
Examples: 4 XEM fee for a 45,000 XEM transfer, 12 XEM fee for 125,000 XEM transfer, 25 XEM for a 500,000 XEM transfer.
b) Mosaics with a divisibility of 0 and a maximum supply of 10,000 are called small business mosaics. The fee is 1 XEM for any transfer of a small business mosaics.
For other mosaics, the formula is more complicated. Basically, a XEM equivalent for the mosaic transfer is calculated and then i) is applied. To compensate for mosaics that have considerably lower supply than the XEM mosaic, a supply related adjustment is made to that fee. This leads to considerably lower fees for mosaics with low supply.
Formula: x = number of mosaics transferred, fee = Max(1, Min(25, x * 900,000 / MosaicSupply) - floor(0.8 * ln(9,000,000,000,000,000 / MosaicSupply * 10^divisibility)))
3) messages: 1 xem per commenced 32 message bytes (fee = floor(messageLength / 32) + 1).
3) Provisioning a namespace: fee for the transaction: 20 XEM fee for root namespace provisioning: 5000 XEM fee for sub-namespace provisioning: 200 XEM
4) Mosaic creation and changing a mosaic definition: fee for the transaction: 20 XEM fee for mosaic creation or changing its definition: 500 XEM
5) Fee for other transaction types to stay the same.
There is a new API request /transaction/get to look up a transaction by hash. Example: http://bigalice3.nem.ninja:7890/transaction/get?hash=215b900475b13f724acc9fbe249bb9ffd31451c2352ed51b9637143cde4c260a
To fully support hash based transaction lookup, a node must set the entry in the NIS config.properties (config-user.properties) nis.transactionHashRetentionTime to -1.
This means all transaction hashes in the blockchain are held in memory and therefore is only recommended for nodes with at least 2GB memory.
At least the nodes with the following IPs will fully support the lookup:
BigAlice3: 18.104.22.168 (Germany)
HashService1: 22.214.171.124 (USA)
HashService2: 126.96.36.199 (Hong Kong)
HashService3: 188.8.131.52 (Netherlands)
BigAlice2: 184.108.40.206 (USA)
MedAlice2: 220.127.116.11 (USA)
If you're using the installer, make sure to stop running NCC and NIS before running the installer!
NEM requires Java 8
Remember the installer requires 64-bit Java
You can download Java from official page: http://java.com/en/download/manual.jsp12
You can start NCC and NIS with an installer from the following link: http://bob.nem.ninja/installer
Standalone version: http://bob.nem.ninja/