Cryptocurrency Q&A
Why does it cost so much to send ETH?
Why does it cost so much to send ETH?
isabella_doe_socialworker
Sun Dec 29 2024
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6 answers
1349
I'm really confused about the high cost of sending Ethereum. I know it's a popular cryptocurrency, but the transaction fees seem excessively high compared to other digital assets. Could someone explain why this is the case?
6 answers
CryptoAlly
Tue Dec 31 2024
The Ethereum network operates on a principle where gas is a necessity for transaction execution.
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Sebastiano
Tue Dec 31 2024
Without sufficient gas, transactions cannot be processed, as the network relies on this resource to perform the required computational work.
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KpopStarlight
Tue Dec 31 2024
Gas serves as the fuel that powers computations and actions within the Ethereum blockchain.
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Claudio
Tue Dec 31 2024
When engaging in activities like sending tokens or interacting with smart contracts, users must provide gas.
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KpopMelody
Tue Dec 31 2024
This gas is essentially a fee paid in Ethereum's native cryptocurrency, ETH, to miners or validators for processing the transaction.
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