Pi Network Tests Soroban Smart Contract, Unveiling Pi’s Gas Fee Calculations

In a stride toward enhanced transparency and a deeper understanding of blockchain intricacies, the Pi Network recently conducted a test run utilizing the Soroban smart contract. This test aimed to illuminate the calculation process behind Pi’s gas fees, providing valuable insights into the intricate dynamics of cryptocurrency transactions, particularly the interaction with Soroban’s native token, Stroop.

To demystify Pi’s gas fee, experts scrutinized the calculation involving Stroop, Soroban’s native token, with a fixed value of 1 stroop equivalent to 0.0000001 XLM (Stellar Lumens). Considering a base fee of 100,000, analysts determined that the current gas cost for Pi stands at 0.01 XLM. However, it’s crucial to highlight that this gas fee might undergo changes in response to future updates on the Soroban platform.

With a new Soroban update introducing a default value set at 100, the calculation becomes more intricate. Multiplying this default value by 0.0000001 XLM yields a preliminary estimate of 0.00001 Pi gas. Despite this calculation, the presence of the “False” statement suggests the need for further scrutiny and specific information to ascertain Pi’s exact gas cost.

As of now, it can be deduced that the minimum gas fee for Pi is 0.00001 Pi, or potentially higher, contingent upon alterations and updates in its interaction with the Soroban smart contract. This revelation holds significant importance for the Pi Network community, offering them a tool to monitor and assess gas fees accurately in the future.

The successful execution of the Proof of Pi test run marks a pivotal moment for Pi Network enthusiasts and the broader cryptocurrency community. It not only provides a glimpse into the intricate mechanics of blockchain transactions but also underscores the importance of adaptability and understanding in the ever-evolving world of digital currencies. As the Pi Network continues to explore new horizons, this newfound knowledge about gas fees serves as a foundation for informed decision-making and fosters a deeper comprehension of the complexities within the cryptocurrency realm. Read Similar Story