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What Is the Concept of Gas Fees in Executing a Smart Contract?

Transaction fees paid to validators to compensate for the computational power needed to execute smart contracts.
Greeks.Live17.11.25

What Is the Concept of Gas Fees in Executing a Smart Contract?

Gas fees are the transaction costs required to perform an operation or execute a smart contract on a blockchain, most notably Ethereum. The fee compensates the network validators for the computational effort and energy required to process and secure the transaction.

The price of gas fluctuates based on network congestion and demand for processing power.

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