Cryptocurrency Q&A
Does ETH get burned for gas?
Does ETH get burned for gas?
GyeongjuGlory
Mon Nov 11 2024
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7 answers
1734
I'm wondering if Ethereum, or ETH, gets burned or destroyed when it's used to pay for gas fees on the Ethereum network. In other words, does the amount of ETH in circulation decrease when it's utilized for transaction costs?
7 answers
Martino
Wed Nov 13 2024
However, not all of the gas fees are kept by the validator.
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CherryBlossomFall
Wed Nov 13 2024
The validator is responsible for receiving gas fees.
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ChristopherWilson
Wed Nov 13 2024
These fees are a crucial part of the transaction process.
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Ilaria
Wed Nov 13 2024
The validator that handles a specific transaction receives a portion of the gas fee as a tip.
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Pietro
Wed Nov 13 2024
Additionally, they also collect gas fees from all the other transactions within the same block.
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