About a year ago, there were several threads discussing the possibility of raising the minimum fee for Stellar transactions. At the time, there was no real consensus, the network wasn't prepared for an increase, and there wasn't a dire need for a higher minimum fee, so the discussion just kind of...petered out.
Things have changed a lot since then, and based on feedback we've received recently from the community, we feel like it's time to reopen that discussion.
To continue to function as a fast, efficient, and decentralized system for payments, Stellar requires a fee for every transaction submitted to the ledger. Those fees don't enrich anyone — they're burned, so they don't go to network validators or to the Stellar Development Foundation — but they're necessary to prevent large-scale bad behavior.
Protocol 13 lets you adjust fees even after signing your transactions, so now you can avoid any risk of important transactions getting stuck without bidding some huge transaction fee in the auction. However, not everyone who uses Stellar is prepared to accommodate the current transaction pricing fluctuation caused by low-value arbitrage transactions.
To make it easier for developers and users to price transactions, we think it's time to consider raising the minimum price even though the network is not under contention. Right now, the minimum network fee is 100 stroops (.00001 XLM). A concrete suggestion to kick off the discussion: what if we raise the minimum to 10,000 stroops (.001 XLM) per operation?
Raising the minimum will reduce price fluctuation in the short term, allow people to test transaction fee adjustments and implement fee-bump transactions in their software, and avoid creating the false impression that people can make money by developing trading bots that only make sense when transactions aren't fairly priced. 10,000 stroops seems like a good starting point, but we won’t know for certain until we try, and...