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Ethereum: As on market -based transaction fee size
Since market capitalization is the second largest cryptocurrency, Ethereum has created waves in a decentralized finance (DEFI) and non -expropropros (NFT) space. However, one of the most important challenges faced by Ethereum is the transaction fee dimension, which can be a significant narrowing of users who need to make frequent transactions.
What are the transaction fees to the market?
Market -based transaction fees, also known as gas fees, are the system needed for the Ethereum network, which relates to transactions exceeding certain borders. These fees are based on the amount of calculations needed to implement the transaction and are usually paid to the ether, Ethereum blockchain in the local cryptocurrency.
Why can’t we just reduce mining?
You are right; Mining is now the only way to confirm transactions and create new blocks that make the network secure. However, increasing mining requires a significant amount of energy that can be expensive. In addition, increasing the number of miners in the network requires higher computing performance, which can lead to further increased energy consumption and carbon dioxide emissions.
What are market -based fees?
The fee in the market works as follows:
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The transaction data is summarized : When the user proposes the transaction, their node collects relevant information on the transaction, such as the sender’s address, the recipient’s address and the amount to be transmitted.
- Gas Calculation
: Then the collected data is used to calculate the price of gas, which reflects all costs of implementing the transaction.
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Paid transaction fee : The user pays part of this gas price using an ether or other cryptocurrency.
Can we pay with other cryptocurrencies?
While it is technically possible to pay other cryptocurrencies such as Bitcoin (BTC), Ethereum Classic (etc.) or others, there are many reasons why market -based fees are still the main choice:
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Network congestion : The purpose of the current fee is to prevent network congestion and ensure that all users have the same options to pay. This ensures justice and prevents the only node from dominating the transaction flow.
- Safety : The use of other cryptocurrencies may endanger security as it may be more vulnerable to hacking or violation.
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Cooperation : Market fees are for operation on several blockchain platforms, facilitating users to send and receive transactions between different ecosystems.
size solutions
While market -based fees are likely to continue to be the main method of paying a transaction fee for Ethereum, they are developing a number of dimensional solutions to reduce this issue:
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Optimistic summaries : New 2 -layer scalability solution aimed at reducing gas charge by placing transactions in smaller knots or « rolling » before reaching the main blockchain.
- Layer Solutions : 2 layer solutions such as optimism and arbitrator work to reduce transaction fees and improve scalability.
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Stake and Stake Certificate (POS) : Some Defi platforms use storage or POS to encourage users to take part in the network, closing the ether and getting rewarded.
Conclusion
Although the fee for the market -based transaction may seem stunning, it is still an essential part of the Ethereum ecosystem. As we continue to develop new dimensional solutions, it is possible that less and less pregnant women will become more and less. In the meantime, however, on the market -based fees, however, the main method of payment of the Ethereum network transaction is still.
More sources
For more information on market -based transaction fees and size solutions, see:
- Ethereum official documentation: <https: // Docs.