What’s the deal with gas fees? Don’t panic—the class study rep is here:
After Ethereum’s 2021 London upgrade (EIP-1559), gas fees were split into two parts: a base fee and a tip. The base fee is burned.
How expensive gas fees are depends largely on how congested the network is. Each block can only hold a limited number of transactions, so the more people trying to use the network, the higher the base fee automatically gets.
Knowledge may seem useless in everyday life, but when trouble strikes, you’ll be glad you have it.
$ETH 2369.89（-5.31%）
#ETH
After Ethereum’s 2021 London upgrade (EIP-1559), gas fees were split into two parts: a base fee and a tip. The base fee is burned.
How expensive gas fees are depends largely on how congested the network is. Each block can only hold a limited number of transactions, so the more people trying to use the network, the higher the base fee automatically gets.
Knowledge may seem useless in everyday life, but when trouble strikes, you’ll be glad you have it.
$ETH 2369.89（-5.31%）
#ETH