Gas Fee definition
Definition
Transaction fee paid to process operations on Ethereum
Gas fees spiked to $200+ during 2021 DeFi summer; L2 solutions like Optimism bundle transactions to slash costs by 90%. Gas Optimization Tips: Time Selection: Weekends/nights typically cheaper. Batch Transactions: Combine multiple operations. Gas Tokens: CHI/GST2 for fee reduction. EIP-1559 Impact: Base fee + priority fee model; ~30% of ETH fees burned, creating deflationary pressure.
Gas fees spiked to $200+ during 2021 DeFi summer; L2 solutions like Optimism bundle transactions to slash costs by 90%. Gas Optimization Tips: Time Selection: Weekends/nights typically cheaper. Batch Transactions: Combine multiple operations. Gas Tokens: CHI/GST2 for fee reduction. EIP-1559 Impact: Base fee + priority fee model; ~30% of ETH fees burned, creating deflationary pressure.
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