Transaction fee (gas fee)

What is a transaction fee (gas fee)?

1. What is a transaction fee (gas fee)?

When a transaction or contract occurs within the Ethereum platform, the content is transmitted and recorded on the blockchain. However, since this blockchain can be used by anyone, if it overheats, it becomes overloaded, and to prevent this, a “gas fee” is charged. Since all participating processes such as NFT creation, bidding, purchase, and sales are recorded on the blockchain, a fee (gas fee) is incurred in this process. The higher the gas fee is, the higher the priority of work processing. You can check the current gas price at https://etherscan.io/gastracker What is Gwei? You can understand it as the smallest unit of Ethereum. ​

2. What is Etherscan?

EtherScan is a site where you can view data related to pending or confirmed Ethereum blockchain transactions. Since Ethereum is an open, public blockchain, transactions are recorded as they occur and can be viewed by anyone. All information on the Ethereum blockchain is public, but only the public wallet address is shown.