Cryptocurrency Q&A
What is a transaction fee in blockchain?
What is a transaction fee in blockchain?
Daniela
Wed Dec 04 2024
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7 answers
1770
I'm trying to understand the concept of a transaction fee in the context of blockchain technology. Could someone explain what it is and how it works within the blockchain system?
7 answers
Elena
Fri Dec 06 2024
A cryptocurrency network fee serves as an incentive for miners or validators.
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BlockchainLegend
Fri Dec 06 2024
It encourages them to include a specific transaction in the next block of the blockchain.
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GeishaMelodious
Fri Dec 06 2024
This fee is also commonly referred to as a transaction fee.
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EthereumEmpress
Thu Dec 05 2024
The amount of cryptocurrency paid as a network fee can vary.
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CryptoWizardry
Thu Dec 05 2024
One factor that influences the fee amount is the congestion of the network.
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