transaction cost

The network cost on the eternal chain is called gas. gas provides power for the eternal chain, and every task and transaction requires gas as the driving force to be processed.

overview

Every transaction on the Eternal Chain requires a small processing fee to be paid

This type of expense is called "gas" fee

gas costs vary with network congestion conditions

Schedule transaction time

Just as staggered travel is less congested and more affordable, using the Eternal Chain during sleep time in North America is often more cost-effective.

Waiting for cost reduction

According to the congestion level of the eternal chain, gas prices fluctuate up and down every 12 seconds. When gas prices are high, just wait a few minutes before trading and you may see a significant decrease in the fees paid.

Using a two-layer network

The second layer network chain is built on the eternal chain, with lower costs and more transactions to be processed. For transactions that do not need to be conducted on the Eternal Chain main network, they are a good choice to save costs.

What is gas cost?

The eternal chain can be seen as a large computer network, where people can perform tasks such as sending information or running programs. Just like in the real world, completing these tasks requires energy.

In the eternal chain, each calculation operation is set with a "gas" price. gas cost refers to the total cost of operations performed in a transaction. When sending transactions or running smart contracts, gas fees need to be paid in order to process them.

What causes high gas costs?

As long as the computational load (gas) on the eternal chain exceeds a specific threshold, gas costs begin to rise. The more gas exceeds the threshold, the faster the gas cost increases.

Higher costs may be caused by factors such as popular decentralized applications or non homogeneous tokens, cyclical increase in trading volume on decentralized exchanges, or massive user activity during peak hours.

Before deployment, developers on the Eternal Chain should carefully optimize the usage of their smart contracts. If many people are using a poorly written smart contract, it will consume more gas and may inadvertently cause network congestion.

Why do we need gas?

gas is a key element in ensuring the security of the eternal chain and handling transactions. gas plays a role in many ways:

  • gas can help Eternal Chain prevent hacker attacks and prevent malicious actors from crushing the network through fraudulent activities.
  • Because computing consumes gas, engaging in expensive transactions, unintentionally or maliciously launching spam attacks on the Eternal Chain is not economically worthwhile.
  • Setting hard limits on the amount of computation that can be executed at any time can prevent the eternal chain from being crushed, helping to ensure that the network is always accessible.

What you may be interested in

Get my first wallet

Eternal Chain Wallet is an application that allows you to control your account. Just like your physical wallet, it contains all the information needed to verify your identity and process assets. Through the wallet, you can log in to the application, view your balance, send transactions, and verify your identity.

How to obtain Eter

You can earn ETER coins, receive them from peers, or purchase them from exchanges and applications.

paper

To better understand the development trends of blockchain and the future plans of Eternal Chain, reviewing the white paper is a necessary information before investing.