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Difference between revisions of "Gas fees"
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(Created page with "Gas fees is an expression commonly used to refer to the transaction fees in the EVM-based blockchain (like Ethereum, Avalanche C-chain, Fantom). Gas fees are paid in the native token of the blockchain (ex ETH in Ethereum, AVAX in Avalanche) and are dependent on two factors: * Gas cost * Gas price == Gas cost == Gas is the representation of the computational effort a transaction takes to be executed. Since in a blockchain each node must independently execute...") |
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Gas fees is an expression commonly used to refer to the transaction fees in | Gas fees is an expression commonly used to refer to the transaction fees in EVM-based blockchains (like [[Ethereum]], [[Avalanche]] C-chain, [[Fantom]]). | ||
Gas fees are paid in the native token | Gas fees are paid in the blockchain's native token (ex. ETH in Ethereum, AVAX in Avalanche) and are dependent on two factors: | ||
* Gas cost | * Gas cost | ||
* Gas price | * Gas price | ||
== Gas cost == | == Gas cost == | ||
Gas is the representation of the computational effort a transaction takes to be executed. Since in a blockchain each node must independently execute every transaction, it is important to limit the amount of computational effort required from the nodes. | Gas is the representation of the computational effort a transaction takes to be executed. | ||
Since in a blockchain each node must independently execute every transaction, it is important to limit the amount of computational effort required from the nodes. | |||
In EVM-based blockchains each transaction has a gas cost, which is defined by its complexity and its needs for storage. | In EVM-based blockchains each transaction has a gas cost, which is defined by its complexity and its needs for storage. | ||
Each transaction has a minimum gas cost of 21.000 gas, to which is added more as the transaction gets more complicated. | Each transaction has a minimum gas cost of 21.000 gas, to which is added more as the transaction gets more complicated. | ||