Gas fees: what are they?

submitted 3 months ago by Elsamarie to cryptocurrency

Gas fees are transaction costs that miners or validators get on blockchain networks like Ethereum in return for completing transactions. These fees are covered by the network's own coin and vary based on demand and transaction complexity. Gas fees have an impact on transaction speed and cost, thus a Token Development Company will typically take them into account when developing and deploying tokens. While decreased gas prices may result in failures or delays, higher fees can speed up transactions.

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