Skip to content

[Submission] Gas and Fees by Azeez Abiodun Sodiq #3

New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

Sign up for GitHub

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Open
GuruGrafix wants to merge 2 commits into
base: main
Choose a base branch
from
Open

[Submission] Gas and Fees by Azeez Abiodun Sodiq #3

Changes from all commits
Commits
Show all changes
2 commits
Select commit Hold shift + click to select a range
6e7b367
Create Gas_and_Fees_Azeez_Abiodun_Sodiq.adoc
GuruGrafix Jul 5, 2025
5b6c837
Added my Twitter thread link on the Assignment
GuruGrafix Jul 6, 2025
File filter

Filter by extension

Filter by extension
Conversations
Failed to load comments.
Loading
Jump to
Jump to file
Failed to load files.
Loading
Diff view
Diff view
21 changes: 21 additions & 0 deletions Gas_and_Fees_Azeez_Abiodun_Sodiq.adoc
View file
Open in desktop
Original file line number Diff line number Diff line change
@@ -0,0 +1,21 @@
## Gas and Fee by Azeez Abiodun Sodiq

## What is Gas?
- Gas is the unit to measure how much a computational effort it take to perform and action on a network
- Purpose: It acts as a fuel to power transactions and prevent spamming, ensuring the network's security and efficency

## EIP-1559
- This changed how transaction fees(gas fee) work on Ethereum, Users can bid gas prices to have their transactions included in blocks.
- It automatically adjusted based on network demand with a mandatory minimum fee all users must pay to have their transaction included in a block.
- Priority fee: Is like an oprtional tip that users can include to incentivize miners/validators to prioritize their transaction and it encourages fas inclusion during high network activity
- Max Fee: User can set a maximum amount they're willing to pay per unit of gas

## Define Slippage
- this is the difference between the expected price of a trade and the price at which the trade is actually executed (like a change in token price)

HOW IT RELATES TO GAS PRICES
- Low Gas: If a low gas fee is set, transaction may be delayed, during the delay, market prices can change, causing slippage when the transaction finally goes through.
- High Gas: Increase your chances of being included in the next block and it reduces the chance of slippage as the transaction is comfired closer to the price you saw when submitting it.

## Thread Link
https://x.com/Abiodun6155/status/1941831533758726377?t=WroSCgxEzUD29dan0_3Ztw&s=19