Gas Fees

PGN and Polygon

As defined in our NFT dictionary, gas fees are the payments individuals make to complete a transaction on a blockchain. These fees are used to compensate blockchain miners for the computing power they have to use to verify blockchain transactions. They are typically paid in the blockchain's native cryptocurrency

The standard gas fee of Polygon is extremely cheap, being less than US$0.01 per transaction

What does gas fee mean? A gas fee is the amount of Ether (ETH) required for an Ethereum blockchain network user to conduct a transaction on the network. Gas fees are used to compensate Ethereum miners for their work in verifying transactions and securing the network.

What are gas fees for Ethereum? Gas is the unit of measure for how much computational work is required to process transactions and smart contracts on Ethereum. Ethereum gas fees are often denominated in 'Gwei', which is a unit of measure for the Ether cryptocurrency (1 billion Gwei = 1 ETH).