How much does creating of a namespace cost?

[Bubimir]

We are deciding which blockchain technology to use, to build our own app upon. I saw NEM has really amazing features, which are extremely useful to quickly start the development. Then I cam to the NanoWallet and tried to create a Namespace and saw the price is 5 000.000000. Is this correctly written as 5 thousand XEM, that’s currently over 1000 USD. Is that possible or are just decimal points wrongly written?

[cyrus_1683]

Don’t worry, the fees will go down with the next NIS release on 20th this month.
The new price of namespace is 100 xem I think, correct me if I’m wrong.

NEM Beta 0.6.93

NEM Beta 0.6.93 There will be a fork at height 1250000 (which is roughly August 20th). Changes: 1) Fee Fork: The long awaited lowering of fees is near. From height 1250000 on the new fee structure is available. Here are the basic changes, we probably should have a blog post explaining in more detail. a) Message Transfer transactions: The fees for transfer transactions are lowered by a factor 20. That means: i) a message costs 0.05 xem per commenced 32 message bytes, no message means no fee…

[Bubimir]

Thanks cyrus, did’t know about the fork at all