Do you know what RC is?
RC stands for Resource Credits and it's basically the "fuel" for all the activity on the chain you do. For more coverage of the audience, think of it as something like "gas" on Ethereum, although on Hive it has a lot more meaning and functionality.
This fuel is kind of "green" (very efficient and dynamic at large scale) and it will be more or less valuable depending on how it gets used over time. It also regenerates by itself, and depending on how much HIVE power you have, you will have access to more or less RC per unit of time.
Why are there different RC costs?
It's basically a "more" fair way to charge resources on the blockchain infrastructure. Meaning that a comment will cost differently over time than an upvote or a simple transfer. Both because specifically, each will have different processing costs but also depending on its frequency as a protective methodology to allow all types of broadcasts to happily "live" in the chain.
How so? Imagine that the number of broadcasts (of a certain type) changes drastically over a certain period, then, this will cause an adjustment to the RC cost (to everyone) for that specific type of broadcast. Meaning that if tomorrow there is a huge amount of people voting, the vote RC cost will progressively adjust and become more expensive. But if during that same period, the amount of comments is not significantly changing, then commenting will take more or less the same RC cost.
This new model was updated and is live since the Hard Fork 26 and might or not suffer more adjustments depending on how it helps the chain evolve.
How's the progress looking like?
Well, I would say it has been going quite well... I have for example witnessed that in previous months, my account was having a big hard time claiming accounts (one of the most expensive functions in terms of RC), and lately, RC prices have become cheaper and the claiming process that I have via @hivekeychain started claiming them again more regularly.
You can also see, from the first graph above that, on average most costs have gone down, with exception of the "account update" ones, at least on average. This might have been a due to more accounts changing keys, being created (and then updated), or simply you updating your profile, for example. Maybe it was because of @terracore 😉😏... I am not sure what was the reason for its increase, but you get the idea for example purposes.
I am a bit surprised to see custom JSON broadcasts still going cheaper over time... so, it might be something that is still needing adjustment perhaps. Could be seasonal too, let's see, but so far the results of these changes have been interesting and might already have caused some overall change in optimization.
What sorts do you ask?
Well, we now have RC delegations available for example and ventures also dedicate more time making broadcasts more effective, for example, by fitting more instructions per broadcast (on custom JSONs). This reduces the number of broadcasts in general, making it more effective from the communication and processing perspective.
For situations where lots of RC was needed and HIVE power was being used to cover that RC cost, the situation also changed, because now that HIVE power is probably being used for voting on a different account, which then delegate RC instead to the projects they wish.
The changes also made it simpler to support NEW users, where its not yet obvious for them what to do when "they run out of RC" (broadcasts are not possible), enabling anyone to delegate a small amount of RC directly to help them and in the process do some teaching. This also helps motivation of doing so because it does not disrupt much the value these accounts still have to perform other actions (such as for example, voting).
Any questions or comments about RC?
Lay them below... both of us might learn in the process and that's the great part about being around.
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