HackMD - Collaborative Markdown Knowledge Base

<p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">An overview of cryptocurrency gas fees</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">Describe gas.</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">For the purpose of completing a given network transaction, gas is a unit of computer energy measurement. Like blockchain trading, a motorbike needs gas to run. Gas is needed by the network to perform transactions. Gas is therefore utilized for:</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">- Concluding transactions</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">- Executing smart contracts.</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">- Starting DApps</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">- The price of storing data.</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">What is the Gas Fee?</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">You'll need 0.5 gallons of 9000 VND fuel to run 10 kilometers. Similar to this, if you want to transmit 1000 ETH to another wallet on the Ethereum network, you will need gas to complete the transaction. You will then be charged for gas using an ETH conversion.</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">Gas Cap and Gas Fee Variations</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">The structure is divided into two sections.</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">How does Gas Limit work?</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">The gas limit specifies the most gas that a user will consume to finish or execute a transaction.</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">The default Gas Limit value, which varies depending on the date and kind of transaction, can be set by the user.</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">A Gas Limit can be necessary to complete the transaction, depending on how difficult it is. As transactions get more complicated, more computer resources and gas are consumed.</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">What is the Gas Fee?</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">The Gas Fee is the amount of the blockchain's native coin that users are prepared to pay for each unit of Gas.</span></p> <p dir="ltr"><span style="background-color:transparent; color:rgb(0, 0, 0); font-family:times new roman; font-size:14pt">#market247</span></p> <p dir="ltr"><span style="background-color:transparent; font-family:times new roman; font-size:14pt">#gasfee</span></p> <p dir="ltr"><span style="background-color:transparent; color:rgb(0, 0, 0); font-family:times new roman; font-size:14pt"> Cre: </span><a href="https://market247.io/" style="text-decoration-line: none;"><span style="background-color:transparent; color:rgb(17, 85, 204); font-family:times new roman; font-size:14pt">https://market247.io/</span></a><span style="background-color:transparent; color:rgb(0, 0, 0); font-family:times new roman; font-size:14pt"> </span></p> <p dir="ltr"><span style="background-color:transparent; color:rgb(0, 0, 0); font-family:times new roman; font-size:14pt">See ditail: </span><a href="https://market247.io/post/gas-fee" style="text-decoration-line: none;"><span style="background-color:transparent; color:rgb(17, 85, 204); font-family:times new roman; font-size:14pt">https://market247.io/post/gas-fee</span></a><span style="background-color:transparent; color:rgb(0, 0, 0); font-family:times new roman; font-size:14pt"> </span></p> <p> </p>