Binding
What is Binding?
Binding is the collection of transactions from betaChains and grouping them into a single transaction which is forwarded to the alphaChain to be included in a block.
By having an account bind transactions, an account offers to submit a betaChain transaction for inclusion in a block for a fee which is paid for in the origin betachain's coin. The binder then groups collected betaChain transactions into a single betaTransaction and forwards it to a forger while paying the fees in MUTAPA coins.
A binder can group a maximum of 100 beta transactions into a betablock and a minimum of one beta transaction.
Who Can Bind?
Any account on Munhumutapa can provide a binding service as long as they satisfy a few conditions which are:
Binding Services
Binding is an account service and there is economic gain in providing this service.
Binding accounts set the fees which they charge accounts for the binding service and also how transactions are charged meaning different binders charge different rates at any given time for any transaction.
Since binding is essentially a market, accounts submitting transactions can choose a particular binder to process their transaction depending on the fees they are willing to pay. As a result, the binders with the most competitive rates will bind more transactions.
Binding Reward
A binder can group a maximum of 100 beta transactions into a single betaTransaction and therefore profitability and charging of binding fees is dependent on the account's profitability target and the exchange rate of a particular betaCoin against the MUTAPA coin.
Binding accounts generate their rewards by putting a markup on their binding rates do that after paying a block forger they retain a profit in the betaCoin fees collected.