Cryptocurrency Q&A What is BTC gas fee?

What is BTC gas fee?

AltcoinExplorer Thu Sep 05 2024 | 7 answers 1513

Excuse me, could you please clarify what exactly is meant by the term "BTC gas fee"? I'm familiar with the concept of gas fees in the context of Ethereum transactions, but I'm not sure how it applies to Bitcoin (BTC) as Bitcoin operates on a fundamentally different blockchain. Does BTC utilize a similar mechanism to incentivize miners and ensure the smooth functioning of the network, or is this a misnomer? Could you elaborate on this and explain the role of fees in the Bitcoin ecosystem? What is BTC gas fee?

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