How does the estimated gas affect the transaction fees in the Ethereum network?

1 answers

• Steensen WilderAug 15, 2020 · 5 years ago
  As an expert in the field, I can tell you that the estimated gas has a direct impact on the transaction fees in the Ethereum network. When you make a transaction, the Ethereum network estimates the amount of gas that will be required to execute that transaction. This estimation is based on the complexity of the transaction and the computational resources needed. The higher the estimated gas, the higher the transaction fees will be. So, if you want to minimize your transaction fees, you should try to optimize your transactions to require less gas. This can be achieved by writing more efficient smart contracts or using gas optimization techniques. Additionally, it's important to keep an eye on the gas price, as it can also affect the final transaction fees. Higher gas prices will result in higher fees, even if the estimated gas is the same.
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