Gas Fee

This is gonna be a story of gas wars. Ever heard of gas fees? Wondering what it feels like to pay gas fees? Well, let us begin.

In our day to day lives, most times when we try to move from one place to another, we pay a certain amount of cash to the Taxi Guy, now in the crypto space that money is known as a Gas Fee.

The gas fee is a transaction fee paid during a transaction on any blockchain to ensure the transaction is executed successfully.

Just like in the real world, the cash paid to taxis varies dependent on various variables, same thing applies to the blockchain, the gas fee varies with time due to some factors, such as network congestion etc.

While some networks have low gas fees, others are much higher, such as the gas fee on the ethereum network.

Blockchains like Solana, Polygon, BNB Chain, Boba Network etc charge users lower amounts for gas fees.