Ethereum Smart Contract with Custom Fee and Percentage of the collected Fee Distrusted token holder

Question

I wanted to know is there a possibility to create a smart contract for a token wherein the transaction fee could be overridden with the network fee and the fee collected on the transaction can be defined. The same collected fee can be redistributed to the token holders in the smart contract.

I have been studying on this and found a smart contract called XITO which claims the same but when I read through their smart contract it does not provide any such logic in it.

http://www.xito.network/ https://ropsten.etherscan.io/address/0xb286a0c8375b5b310e76b186ed7aa222a1d943bc#code

In case this could be done through any another blockchain request you to please help me to guide with the right technology.

Thank you in advance for your help.

Answer 1

The transaction fee is credited to the block miner. The mechanism is part of the consensus rules and cannot be modified by a smart contract.

Some contracts implement a separate fee that is paid when you make a transaction. For example decentralized exchanges will take a small percentage when you buy a token.