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What are gas fees?
1. Definition of Gas Fees
Gas fees are the transaction costs on the Ethereum blockchain. They are paid in gwei, a fraction of Ether (ETH). These fees serve to compensate the validators who ensure the security and functioning of the network.
2. Role and Importance of Gas Fees
They allow for rewarding validators for verifying transactions.
They preserve the security of the blockchain.
They prevent spam, as each operation has a cost, discouraging abuse or unnecessary transactions.
3. How Do Gas Fees Work?
Gas fees rely on two elements:
Gas limit: maximum amount of work required to execute a transaction.
Gas price: cost per unit of gas.
Total fee = gas limit × gas price.
Tips can be added to expedite the execution of the transaction.
4. Gas Fees and the EVM
The Ethereum Virtual Machine (EVM) executes decentralized applications and smart contracts.
Every action performed via the EVM (sending ETH, interacting with a smart contract, etc.) requires paying gas fees in gwei.
5. Evolution and Fluctuation of Fees
Gas fees vary according to:
Supply and demand
Network congestion
When traffic is high, fees increase.
In calm periods, they decrease.
Smart planning of transactions can thus help reduce costs.
