How are Transactions Feeless on EOSIO?

With blockchain platforms that use a proof-of-work consensus mechanism, there are fees for each transaction processed. EOSIO eliminates these by having the network shoulder the burden of these costs – through inflation – rather than making the individual users of the network pay to access its combined resources. In other words, ownership of tokens covers any incidental costs involved.

Disclaimer: Block.one is a software company that is producing the EOSIO software as a free, open-source protocol. This software may, among other things, enable those who deploy it to launch a blockchain, or decentralized applications with various features. For more information, please visit https://github.com/eosio. Block.one does not provide financial support to anyone seeking to become a block producer on any version of the EOSIO platform that may be adopted or implemented.

Block.one will not be launching any of the initial public blockchains based on the EOSIO software. It will be the sole responsibility of third parties, the community, and/or those who wish to become block producers, to adopt and implement EOSIO in the manner they choose, with the features they choose, and/or providing the services they choose. Block.one does not guarantee that anyone will adopt or implement such features, or provide such services, or that the EOSIO software will be adopted and implemented in any way.
Block.one does not endorse any third party or its products or services, even if they are mentioned herein. Block.one is not responsible for any linked content.

Please note that the statements herein are an expression of Block.one’s vision, not a guarantee of anything. While we will try to make that vision come true, all aspects of it are subject to change in all respects at Block.one’s sole discretion. We call these “forward looking statements”, which includes statements in this document, other than statements of historical facts, such as statements regarding Block.one’s business strategy, plans, prospects, developments and objectives. These statements are only predictions and reflect Block.one’s current beliefs and expectations with respect to future events; they are based on assumptions and are subject to risk, uncertainties and change at any time.

We operate in a rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you are cautioned not to rely on these forward-looking statements. Actual results, performance or events may differ materially from what is predicted in the forward-looking statements. Some of the factors that could cause actual results, performance or events to differ materially from the forward-looking statements include, without limitation: market volatility; continued availability of capital, financing and personnel; product acceptance; the commercial success of any new products or technologies; competition; government regulation and laws; and general economic, market or business conditions.

All statements are valid only as of the date of first posting and Block.one is under no obligation to, and expressly disclaims any obligation to, update or alter any statements, whether as a result of new information, subsequent events or otherwise. Nothing herein constitutes technological, financial, investment, legal or other advice, either in general or with regard to any particular situation or implementation. Please consult with experts in appropriate areas before implementing or utilizing anything contained in this document.
The ideas and information expressed herein are solely those of the author and do not necessarily reflect the positions, views or advice of Block.one or any other employee of Block.one.

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