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Marketer | Terminally Onchain | Hosting /degenverse /basedacademy | Player /fbi

Based Academy

What is Gas and What is the avg gas fee on /base?

Ok. Basics 101 here.

Gas is a measure of your transaction cost that you are willing to pay for a specific action on the blockchain.

Technically, Ethereum explains it in a different way, 
“Gas refers to the unit that measures the amount of computational effort required to execute specific operations on the Ethereum network.”

But as a layman, consider it as a fees that you spend to get your transaction done.

You can change the fees that you want to pay in your wallet settings. Usually the gas fees are pre-suggested by the wallet and/or the website.

Now, what costs are involved in a Layer 2 like base fees?

Every Base transaction consists of two costs: an L2 (execution) fee and an L1 (security) fee. The L2 fee is the cost to execute your transaction on the L2, and the L1 fee is the estimated cost to publish the transaction on the L1. Typically the L1 security fee is higher than the L2 execution fee.

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A great primer on what is Gas and what is the avg gas fee on base by @iamvrushal on /basedacademy 🔵

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Base

/base just hit 250,000 members on Warpcast!

To celebrate, I'll be airdropping this NFT to everyone who registers below as a proof that you are here when Base reached 250,000!

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Stay based, everyone!

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[X: @dulliedot]

frame developer, web3 developer, long distance runner /degenfers /pixelnouns /toka

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