Someone asked: Why are Ethereum gas fees split into a base fee and a tip?
My answer: The protocol automatically calculates the base fee based on usage in the previous block. It increases when usage is above the target and decreases when usage is below it. The base fee is burned instead of being paid to the block producer, which prevents them from stuffing blocks with fake transactions to profit by driving up fees.
$ETH 2438.87 (+1.15%)
If you found this useful, save it to read again later.
My answer: The protocol automatically calculates the base fee based on usage in the previous block. It increases when usage is above the target and decreases when usage is below it. The base fee is burned instead of being paid to the block producer, which prevents them from stuffing blocks with fake transactions to profit by driving up fees.
$ETH 2438.87 (+1.15%)
If you found this useful, save it to read again later.