Hi, for learning purposes Im trying to set up an own crypto currency (lets call it zcoin) based on erc20. I will also develop a wallet specifically for it. I basically found out how to set up everything but I cant find an answer for the following:

Sending a zcoin would generate a fee that needs to be paid in ETH, right? But where does that ETH come from? Imagine two people bob and alice. Both are new to crypto currency and they both just got the zcoin wallet and bought some zcoins on my website. Where does the ETH come from to pay for the transaction fee if bob wants to send some zcoins to alice?

Jan 21, 2018, 9:37 PM

Rather the transaction fee will be in zcoins

Jan 21, 2018, 9:42 PM

But the zcoins will actually be worthless since Im doing it just for fun

Will miners still accept it as payment for the transaction?

Thanks a lot for the explanation

By account do you mean the zcoin wallet?

So its my job to develop something that puts "invisible" eth into the users zcoin wallet in order to enable them to transfer zcoins?

Sorry if those are obvious questions but I couldnt find the answers online

Jan 21, 2018, 10:21 PM

You can't do that. In all cases you will need eth to do the transactions and all your users too

In addition, your zcoin wallets will be Eth wallets

Too

Jan 21, 2018, 10:24 PM

Because as I said I want the users to buy the zcoins via my website. Afterwards the zcoins will popup in their zcoin wallet (an ios app basically). Just like it works with bitcoin. But up to here they will just have the zcoins in their wallet. In order to perform transactions they will need eth as well. But imagine people who have never worked with cryptos. They wont know that they will have to buy eth first

I bought some EOS tokens once. They are based on ethereum as well. But I could transfer them from eos wallet to eos wallet as well without having eth. Thats what confuses me atm :)

Jan 21, 2018, 10:28 PM