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Gas Fees
HomeGlossary TermsGas Fees

Gas Fees

June 28, 2023BY Ubik Capital
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31 Likes

Gas fees are fees paid by users to account for the expenses associated with executing transactions or smart contracts on the Ethereum blockchain. These fees serve as compensation for the computational power expended in processing transactions. Gas fees are usually measured in a small quantity of the cryptocurrency ether (ETH). Users have the flexibility to select the speed at which their transactions are processed, but faster transaction speeds entail higher gas fees.

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