What Is Gas fee?

Gas fee is a term used in blockchains to describe the transactions cost a user pays to block producers to have their block in includedin the blockchain.

The gas fee is dynamic. During the blockchain cognestion or high activity, block space is more premium, as users are competing to get their transaction included in a block.

There can be irregular events causing gas fee spikes

As the blockchain technology developers, the gas fees, or the transaction costs, are becoming lower and lower. New blockchains always are more gas efficient than their predecessors, as their code and consensus mechanisms are optimised for higher throughput. The costs go down from Bitcoin $20/tx to Ethereum mainnet’s 10$ tx to Polygon’s 0.20$ to Solana’s fractions of cents.

See also