#Gas费影响 Unveiling Gas Fees! Save Money and Use Blockchain Efficiently

Have you heard of 'Gas Fees' but are unsure what they actually are? In the Web3 world, Gas Fees are like the 'toll fees' when using the blockchain, and their amount directly affects the speed of your transactions. Today, we will explain Gas Fees in the simplest way possible.

1️⃣ What are Gas Fees?

Gas Fees are the transaction fees for the blockchain network, used to pay miners for validating and processing transactions. Just like toll fees on a highway, Gas Fees ensure the normal operation of the blockchain network.

2️⃣ How are Gas Fees calculated?:

Gas Fee = Gas Usage × Gas Price

Gas Usage: The complexity of each transaction determines the amount of Gas used. Simple transactions (like transfers) have lower Gas usage, while complex transactions (like NFT minting, DeFi operations) have higher Gas usage.

Gas Price: Determined by the supply and demand of the blockchain network, expressed in Gwei (1 Gwei = 0.000000001 ETH). When the network is busy, Gas prices are higher; during nighttime or off-peak hours, Gas prices are lower.

3️⃣ How to save on Gas Fees?

Choose off-peak times for transactions: Generally, Gas Fees are lower at night or on weekends.

Set Gas Limit: Setting a reasonable Gas Limit can prevent transaction failures due to being set too low.

Use Layer 2 networks: Such as Arbitrum, Optimism, etc., which have much lower Gas Fees than the mainnet.

4️⃣ Common misconceptions about Gas Fees:

Misconception 1: Lower Gas Fees are always better. If set too low, transactions may fail to be confirmed or even fail outright.

Misconception 2: All blockchains have high Gas Fees. There are significant differences in Gas Fees across networks; for example, BSC is much cheaper than Ethereum.