What exactly are Gas fees?
After the London upgrade (EIP-1559) in 2021, Ethereum's Gas fees were split into two parts: the base fee and a tip. The base fee is burned.
Gas fees are largely determined by network congestion: block space is limited, and the more people who want to use it, the higher the base fee rises according to the rules.
$ETH is the native currency used to pay Gas on Ethereum mainnet.
#ETH
This content is for reference only. Make your own independent decisions.
After the London upgrade (EIP-1559) in 2021, Ethereum's Gas fees were split into two parts: the base fee and a tip. The base fee is burned.
Gas fees are largely determined by network congestion: block space is limited, and the more people who want to use it, the higher the base fee rises according to the rules.
$ETH is the native currency used to pay Gas on Ethereum mainnet.
#ETH
This content is for reference only. Make your own independent decisions.