What are the factors that determine gas fees on etherscan?

1 answers

• Nov 26, 2021 · 3 years ago
  Gas fees on etherscan are influenced by various factors. Network congestion is one of the key factors that determine the fees. When the Ethereum network is congested, there is a higher demand for block space, resulting in increased gas fees. Additionally, the gas price set by users also plays a role. Users can choose to set a higher gas price to incentivize miners to prioritize their transactions. The complexity of the transaction or smart contract also affects the gas fees. More complex operations require more computational resources, leading to higher fees. Lastly, miner competition can impact the fees. Miners have the power to choose which transactions to include in a block based on the gas fees offered. Therefore, higher competition among miners can drive up the gas fees on etherscan.
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