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Gasfees |
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Gas is the term for the amount of ether (ETH) (the native cryptocurrency of Ethereum) required by the network for a user to interact with the network. These fees are used to compensate Ethereum miners for the energy required to verify a transaction and for providing a layer of security to the Ethereum network by making it too expensive for malicious users to spam the network.
Even though they are an effective means of incentivizing miners to keep verifying transactions and maintain network security, gas fees are nonetheless every user’s most hated part about Ethereum. People hate gas fees not only for a general disdain toward fees, but because they can be absurdly expensive when the network is congested. |
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