On the Ethereum blockchain, every action like sending ETH or interacting with a smart contract requires computational work by the network. To perform this work, you need to pay a fee. This is called a gas fee.
Think of gas as the fuel needed to power any transaction or smart contract on Ethereum.
The gas fee is how much ETH (Ethereum's currency) you pay to the network to execute that action.
š§ Real-Life Analogy: A Car on a Toll Road
Imagine youāre driving a car on a toll road:
The car = your transaction.
The road = the Ethereum network.
Gas = the fuel needed for your car to travel.
Toll = the fee you pay to use the road (like paying miners to process your transaction).
The longer or more complex the journey (e.g. more smart contract steps), the more fuel (gas) your car needs. Also, during rush hour, the tolls may increase this is like Ethereum gas prices rising when the network is busy.
š§® Let's Break Down the Gas Fee
Ethereum gas fees are calculated like this:
Gas Fee = Gas Units Ć Gas Price
Gas Units: Amount of computational work required (fixed for most tasks).
Gas Price: How much you're willing to pay per unit of gas (can change depending on network congestion).
Elon Muskās Dogecoin Hype Will Return Soon: Crypto Expertš¶
With Elon Musk distancing himself from the White House, some crypto analysts, including Santiment founder Maksim Balashhevich, suggest a classic Dogecoin pump may be imminent. They believe Musk now has more time to resume his trademark Dogecoin promotions, potentially boosting the meme coin's value.
šŖTON has surpassed all blockchains in daily NFT trading volume!
šThe chart clearly shows that TON is leading with a huge margin over Solana and other blockchains, getting very close to Ethereum!
š·ļøIt's worth noting that Telegram has created something truly unique within their messenger. This has become one of the best achievements for this social network!
š Hong Kong is set to legalize Bitcoin and crypto derivatives trading for professional investors, aiming to solidify its position as a global crypto hub.
With the derivatives market surpassing $21 trillion in Q1 2025, this move could attract significant institutional interest.
Is this a game-changer for crypto adoption in Asia? š¤
Binance to open perpetual futures trading for Bondex $BDXN on June 3
Crypto exchange @binance has announced on its official website that it will list the BDXN/USDT perpetual contract on June 3 at 10:30 UTC, supporting a maximum of 50x leverage.
Avoid buying the wrong coin š¤·āā Be watchful
āDegenā (short for degenerate) is a slang term in the crypto world used to describe someone who takes high-risk, high-reward bets, often in speculative tokens, meme coins, new projects, or early-stage protocols.
Degens are early movers who jump into opportunities before theyāre fully proven, sometimes even before proper audits, teams, or roadmaps are in place. They do it for the thrill, the upside, and (sometimes) the bragging rights.
In short: Degens donāt waitāthey ape in and hope for massive gains. š¦š