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What are gas fees?

Definition of gas

Alex avatar
Written by Alex
Updated over a week ago

Gas fees, in the context of blockchain, refer to the charges incurred for processing and validating transactions. They represent the cost users pay to execute operations, such as sending tokens or interacting with smart contracts, on a blockchain network. Gas fees are determined by factors like network congestion, transaction complexity, and the fee users are willing to pay per unit of computational effort (gas) to prioritize their transactions.

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