Ethereum: Feeless Transactions on the Blockchain

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Lorelei

2023-05-30 12:58


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Pandora

Release time 2023 05 30

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One

Release time 2023 05 30

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Olaf

Ethereum has no fee deduction, which means that it does not automatically deduct any transaction fees from the amounts transfered. Instead, users manually specify the gas price for the transaction, which determines how much they are willing to pay as a fee. This gas fee is then paid to the miners as an incentive for validating and adding the transaction to the blockchain. Therefore, Ethereum has no built-in system for taking a cut or a commission from users' transactions, allowing for more transparent and efficient transactions.

Release time 2023 05 30

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Sandra

Release time 2023 05 30

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Oswald

Release time 2023 05 30

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