What are the factors that affect gas fees on Etherscan?

1 answers

• Bjerregaard CoyleJun 05, 2022 · 3 years ago
  At BYDFi, we understand the factors that influence gas fees on Etherscan. Network congestion is a major factor that affects gas fees. When the Ethereum network is congested, the gas fees tend to increase due to the limited capacity. Users can also set the gas price they are willing to pay, and higher gas prices will result in faster transaction confirmations. The complexity of the transaction also impacts the gas fees. More complex transactions require more computational resources and therefore incur higher fees. Lastly, the gas limit set by miners also influences the fees. Miners can choose to include transactions with higher gas fees, leading to increased competition and higher fees for users. It's important to consider these factors when planning your transactions on Etherscan.
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