Sasha Horodnic
@horodnic21
1/5 Gas and Fees on Swisstronik 💸 On #Swisstronik, users pay fees to submit transactions. With a hybrid model combining Ethereum’s fee system (EIP-1559) & Cosmos SDK, it ensures efficient transaction prioritization! 🚀 Learn about: 🔢 Gas calculation 💰 Providing fees 📈 Fee market for transaction priority
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Sasha Horodnic
@horodnic21
3/5 💡 What is Gas? ⛽️ Gas is a unit that measures the computational intensity of a transaction—essentially, how much work is needed to process and execute it. 🧠 For example, complex, multi-step transactions (like delegating to several validators in #Cosmos) require more gas than simple ones (like sending tokens to another address). ⚙️ When we talk about "gas" in a transaction, we're referring to the total amount of gas required. For example, a transaction might need 300,000 units of gas to execute! 🔢 Think of gas like electricity (kWh) in a house or fuel for a car—getting things done comes at a cost! ⚡️🚗
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Sasha Horodnic
@horodnic21
4/5 💡 How Does Gas Relate to Fees? ⛽️💸 Gas measures the computational work for a transaction, while fees are the tokens you actually spend to execute it. 💰 Think of it like electricity: Gas = kWh used Gas Price = rate (like $/kWh) Fees = your bill 💡 Just like energy, gas prices can fluctuate based on network traffic! ⚡️📉
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Sasha Horodnic
@horodnic21
5/5 💡 How are Fees Handled on Cosmos? ⛽️💰 On #Cosmos, gas fees are simple! As a user, you provide: 1️⃣ GasLimit (GasWanted) - an upper bound on gas usage. 2️⃣ Fees or GasPrice - to specify or calculate the transaction cost. The node uses the full fees provided to execute the transaction. If GasLimit is too low, the transaction fails & rolls back—no refund! 🔄
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