Technical Principles | EIP-1559 Fee Mechanism
Definition: The base fee is automatically calculated by the protocol based on usage in the previous block. It increases when usage is above the target and decreases when usage is below it.
Why: With a base fee, wallets can calculate a reasonable fee directly from on-chain conditions, so users don’t have to keep guessing how much to pay.
Reminder: The maximum fee shown by the wallet is only a cap. The actual amount spent is shown in the on-chain records in the block explorer.
$ETH 2327.79 (-1.73%)
Definition: The base fee is automatically calculated by the protocol based on usage in the previous block. It increases when usage is above the target and decreases when usage is below it.
Why: With a base fee, wallets can calculate a reasonable fee directly from on-chain conditions, so users don’t have to keep guessing how much to pay.
Reminder: The maximum fee shown by the wallet is only a cap. The actual amount spent is shown in the on-chain records in the block explorer.
$ETH 2327.79 (-1.73%)