What is miner's fee

What is a miner's fee? Gas Fee, also known as Network Fee, as the name suggests, is the handling fee paid to the miners. When you make a transfer on the blockchain, the miners (or nodes) need to package and put your transfer transaction on the blockchain in order to make the transaction complete, which consumes the blockchain's computing resources in the process, thus generating a miner's fee. In EVM compatible chains, the fee is determined by the Gas Price (unit price) and the Gas Limit (quantity) consumed, where the formula is calculated as follows: Miner Fee = Gas Limit * Gas Price The amount of Gas Limit is mainly affected by the complexity of the operations based on the content of the smart contract. The more operations, the higher the Gas Limit. the Gas Price is set by the initiator, the higher the Gas Price set by the initiator, the faster the transaction initiated by the initiator can be packaged. Note: Ethereum's network fee is ETH. BNBChain's network fee is BNB. TRON's network fee is TRX. Horseshoe (Polygon/Matic) network fees for MATIC; MATIC; MATIC; MATIC; MATIC; MATIC; MATIC; MATIC; MATIC; MATIC. Solana's network fee is SOL. OKExChain's network fee is OKT. Networks are refundable if they are not used up. Miner fees (network fees) charged by transfer networks vary depending on the network, and once a transaction is finalized, they are non-refundable, regardless of whether the transaction is successful or not. Miner's fees are charged by the transfer network you selected, YNS Wallet does not charge any fees!

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