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freewilly1040 | 4 years ago
Perhaps I’m jaded but my feeling is that using plain terms would reveal the emptiness of the space. A non technical person can see that a $200 “transaction fee” is a rip off.
freewilly1040 | 4 years ago
Perhaps I’m jaded but my feeling is that using plain terms would reveal the emptiness of the space. A non technical person can see that a $200 “transaction fee” is a rip off.
DennisP|4 years ago
The Ethereum VM has a bunch of different opcodes, some physically more costly than others. To account for this, each opcode has its own "gas cost." Storing a value costs much more gas than adding two values.
The gas price is the current price in ETH for one unit of gas. The gas price fluctuates with demand.
The transaction fee is the total ETH paid for your transaction. If you have a complex transaction that executes a lot of expensive opcodes, you will have a higher transaction fee than someone doing something simpler, even though you're both paying the same gas price.
PebblesRox|4 years ago
delabay|4 years ago
Transaction fee implies something else all together.
albertopv|4 years ago
_jal|4 years ago
Have you ever listened to an investment banker in their native habitat?