#GasFeeImpact GasFeeImpact What are gas fees?

Imagine you want to send a letter through the mail. You need to pay stamps for the mailman to deliver it. In the world of cryptocurrencies, “gas fees” are like those stamps. It’s the money you pay to have your transaction (like sending money or using an app) processed on the blockchain network.

Why do they exist?

* To make the network work: There are people (the “validators” or “miners”) who use their computers to verify and confirm that your transaction is valid. Gas fees are their payment for that work.

* To prevent chaos: If there were no fees, anyone could send thousands of junk transactions and overwhelm the network. Fees help keep the network clean and running.

What happens if fees are high?

* If a lot of people are using the network at the same time, like during rush hour, fees go up. It's like when taxis go up in price during peak times.

* This can make small transactions very expensive. For example, if you want to buy a coffee with cryptocurrency, the fare could be higher than the price of the coffee.

* It can also make applications that use the blockchain more expensive to use.

In conclusion.

Gas fees are necessary for blockchain networks to function, but they can be a problem when they are too high. Solutions are being sought to make them lower and more stable.$BTC