โก What Is a Priority Fee in Transactions?
A priority fee is an extra amount you pay on top of the base transaction fee to get your transaction processed faster on a blockchain.
Think of it as a fast-lane tip to validators or miners.
โ๏ธ How Priority Fees Work
When a blockchain network is busy:
Many transactions compete to get into the next blockValidators prefer transactions that pay higher fees
By adding a priority fee, you signal:
๐ โProcess my transaction first.โ
Higher priority fee = faster confirmation
Lower priority fee = longer waiting time (or delays)
๐ฆ Why Priority Fees Matter
Helps your transaction avoid network congestionReduces chances of transactions getting stuckCrucial during high volatility, NFT mints, memecoin hype, or big market moves
Without a priority fee, your transaction may sit in the mempool while others go ahead.
๐งพ Summary :
โ๏ธ Priority fee = extra fee paid for faster transaction processing
โ๏ธ Used when the network is congested
โ๏ธ Higher fee = higher priority, faster confirmation
Understanding priority fees helps you choose speed vs cost when sending crypto.
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