What is a transaction fee (gas fee) on the Pi Network? A fee incurred to validate a transaction on the Blockchain between the sender and recipient.For your information,the Pi gas fee is fixed (0.01 Pi per transaction),not an adjustment (0.01% Pi of each agreed transaction value).

Why does the Pi Network apply a fixed transaction fee (gas fee) of 0.01 Pi??
For the Pi Network Mega Project which involves a large role of the community and the value of its coins is determined by the community,a gas fee of 0.01 Pi is the most standard fee,because logically its value is only 100 times smaller than the value of 1 Pi (whatever the value of Pi is agreed between the sender and recipient),although currently there are many transactions whose values ​​are much smaller than the gas fee.

Does the gas fee currently reflect the official value of Pi that will be set?? NO!!!
The official gas fee will be set after the official value of Pi is known.

What are the main benefits of the transaction fee (gas fee) on the Pi Network??

◾️For network maintenance costs (Blockchain).
◾️To reward Node users and Developers reward (Project owners).
◾️To prevent spam transactions. With the gas fee,every transaction that occurs is a real transaction based on the agreement of the sender and recipient,regardless of the carelessness of the Pioneer whose wallet password has been stolen.

Will the gas fee continue to change in the future?? It all depends on the Project Developer..It will be adjusted according to the costs incurred for network maintenance, transaction density on the Blockchain and the number of users involved.

Illustration:

A. The value of 1 Pi = GCV $ 314.159 and you have 10 Pi..When you buy an item for $ 100 (0.0003 Pi),then you will pay 0.0003 Pi + gas fee 0.01 Pi = 0.0103 Pi..Your remaining Pi is 10 Pi - 0.0103 Pi = 9.9897 Pi..(The gas fee is more expensive than the price of the item).

B. The value of 1 Pi = $ 100 and you have 10 Pi..When you buy an item for $ 100 (1 Pi),you will pay 1 Pi + gas fee 0.01 Pi = 1.01 Pi..Your remaining Pi is 10 Pi - 1.01 Pi = 8.99 Pi (Gas fee seems to be in accordance with the price of the item,but your remaining Pi is much less).

Which transaction do you choose? I will choose A!!!...

I have explained this illustration many times in previous articles. Some who are skeptical of GCV say that illustration A will cause the traders losses..As I explained earlier,this is the Enclosed Mainnet Period.All kinds of costs,be it gas fees,KYC fees and others,will be adjusted after the Pi value is set.Even the mining system will be adjusted after we transition to the Open Network.

Pi Network is King.Once again I say,Pi will change the world economic order.Time will prove it. The King has a very high position and value.

Keep your fire burning,GCV Heroes!!!..🔥🔥🔥