What are the factors that determine the maximum fee per gas in digital currencies?

1 answers

• atedsgJul 21, 2023 · 2 years ago
  In the world of digital currencies, the maximum fee per gas is determined by a variety of factors. One of the key factors is the gas limit, which is the maximum amount of gas that can be used in a block. If a transaction requires more gas than the limit, it will either be rejected or require a higher fee. Another factor is the gas price, which is set by the user and determines the priority of the transaction. Higher gas prices incentivize miners to include the transaction in the next block. Network congestion also plays a role in determining the maximum fee per gas. When there are many transactions being processed on the network, the demand for gas increases, leading to higher fees. Overall, the maximum fee per gas is influenced by the gas limit, gas price, and network congestion.
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