Try Quests to earn cryptoGas Fees in Uniswap & SushiSwap in the last 2 Months
As the Ethereum network is a decentralized blockchain with no singular entity or authority overseeing its operation, a mechanism is put in place to avoid the network from being congested or spammed with transactions. This mechanism charges senders of transactions with a small fee called gas fee which is then used to reward miners who validate transactions on the network. Gas fees are paid in Ethereum's native currency, ether (ETH). Gas prices are denoted in gwei, which itself is a denomination of ETH - each gwei is equal to 0.000000001 ETH (10-9 ETH). The word 'gwei' itself means 'giga-wei', and it is equal to 1,000,000,000 wei. Wei is the smallest unit of ETH. The gas fee is deducted from the remaining ETH balance of your address and not from the amount of ETH or tokens that you are sending. The total fee for a transaction is calculated with the given formulae according to the latest London upgrade in the network: Gas Fees = Gas units (limit) * (Base fee + Tip), where, Gas Limit is the maximum amount of gas a user is willing to pay for a transaction, Base Fee is the the minimum amount of gas required to include a transaction on the Ethereum blockchain and the Tip/Priority Fee the additional fees users pay to the miners in order to prioritize their transaction. Uniswap and SushiSwap are decentralized exchanges built on the Ethereum blockchain.