Why are gas fees higher during periods of high network congestion?

3 answers

• Dec 16, 2021 · 3 years ago
  During periods of high network congestion, there is a limited amount of space available in each block for transactions to be included. As a result, users have to compete with each other by offering higher gas fees to get their transactions prioritized by miners. This increased competition drives up the gas fees during congested periods.
  338169
• Dec 16, 2021 · 3 years ago
  Think of it like rush hour traffic. When there are more cars on the road, it takes longer for everyone to get to their destination. Similarly, when there is high network congestion, it takes longer for transactions to be processed, and miners prioritize transactions with higher gas fees to maximize their profits. So, to get your transaction processed faster, you'll have to pay a higher gas fee.
  397133
• Dec 16, 2021 · 3 years ago
  During periods of high network congestion, gas fees can increase significantly. This is because miners prioritize transactions with higher gas fees, as they are incentivized to include those transactions in the blocks they mine. This increased demand for block space drives up the gas fees, making it more expensive for users to send transactions.
  34787