diff --git a/Gas_gasfee_slippage_ wallet_ Oduyemi Al-ameen b/Gas_gasfee_slippage_ wallet_ Oduyemi Al-ameen new file mode 100644 index 0000000..0258a59 --- /dev/null +++ b/Gas_gasfee_slippage_ wallet_ Oduyemi Al-ameen @@ -0,0 +1,12 @@ +https://x.com/lameen2764/status/1942222487455948838?t=ghc5H307S1uLHlyzkeUntg&s=19 + +Ether (ETH) is Ethereum's native cryptocurrency, acting as the fundamental asset for transactions and operations on the Ethereum blockchain. +Ethereum Gas and Fees: + * Gas: A unit measuring the computational effort for an operation on Ethereum. More complex operations consume more gas. + * Fee: The cost of a transaction, calculated as Gas Units Consumed × Gas Price. Paid in ETH. +EIP-1559 Fee Structure: + * Base Fee: A dynamic, protocol-set fee that is burned (removed from circulation), adjusted based on network congestion. + * Priority Fee (Tip): An optional payment to validators for faster transaction inclusion. + * Users specify a maxFeePerGas and maxPriorityFeePerGas. The protocol charges the sum of the actual base fee and priority fee, refunding any excess from maxFeePerGas. This system improves fee predictability. +Slippage: + * The difference between an expected transaction outcome (e.g., price, gas cost) and its actual outcome upon execute Users set "slippage tolerance" to manage this risk, preventing transactions if costs exceed a set threshold.