Cryptocurrency Q&A
Where do gas fees go?
Where do gas fees go?
CryptoNinja
Mon Oct 28 2024
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6
answers
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I'm curious about the destination of gas fees. When I make a transaction on the blockchain, I have to pay a gas fee. But where does this fee actually go? Is it to miners, the network, or somewhere else?
6 answers
Leonardo
Wed Oct 30 2024
The recipients of gas fees are those who contribute to the support and security of the Ethereum network.
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BitcoinBaroness
Wed Oct 30 2024
On Ethereum's execution layer, which was previously known as Ethereum 1.0, gas fees serve as a reward for a specific group of individuals.
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EchoSoulQuantum
Wed Oct 30 2024
These fees are paid out to Proof-of-Work (PoW) miners, who play a crucial role in maintaining the Ethereum protocol.
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Carlo
Wed Oct 30 2024
PoW miners validate transactions and add them to the blockchain, ensuring the integrity and security of the network.
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CryptoAlly
Tue Oct 29 2024
By receiving gas fees, PoW miners are incentivized to continue their work and contribute to the growth and stability of Ethereum.
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