In this article we will be learning:

1.Introduction: what is 'GAS' ?

2.Gas tools

3.Units of Gas

4.Gas wars

5. Conclusion

1.Introduction: what is 'GAS' ?

Gas is refers to the fee being paid to use a service on a blockchain network. Just like bank charges fee to run transactions.

Gas fee is the amount paid to process a transaction on the blockchain.

(Whether it is minting, swapping, transfering, bridging and lots more).

Gas fee ranges from high, medium and low depending on how fast user wants transaction to be and transaction speed goes in accordance to gas paid. A higher transaction speed requires higher gas fee.

Gas fee is being charged in the blockchain network native currency

For example

$bonk on solana network uses $sol

$Arkham on Ethereum network uses $eth

2.Gas tools

Gas can be tracked using different tools across different blockchain networks to know the current rate of gas as they varies from time to time depending on the network usage.

Here are some list of blockchain and sites to track gas fee....gas can be mainly tracked on the blockchain network scanner.

Bitcoin - blockscan.io

Ethereum - Etherscan.io

Solana - solscan.io

According to Solscan, solana explorer, regular Solana transaction fees range between $0.0001 and $0.0003.

Tron -tronscan.io

The transaction fees of Tron are negligible as you would only have to pay $0.000005 whenever you make a transaction.

Binance smart chain - bscscan.io

BSC garnered widespread acceptance in early 2021, significantly due to Ethereum’s congestion and gas fee issues. This has caused developers and staking investors to look for other options. The BSC community made the network even more appealing to new users as a cost-effective and stable alternative, by lowering its gas fees

3.Units of Gas

Gas has different units, its measured on different network.

-Bitcoin: gas unit on bitcoin network is referred to as "satoshi" or "sats" which is smallest unit of bitcoin.

On bitcoin network gas is referred to as miner's fee.

-Ethereum: gas unit on Ethereum and most evms and Layer 2s are know as "gwei".

Which is also the smallest unit of Ethereum network.

Specifically, a unit of Gwei is defined as one-billionth (one Nano) of Ether

Ethereum is know for it's high and exhorbant gas fee.

But checking through the blockchain scanner might be difficult to navigate so here some list of sites to help check current gas rate.

1.https://metaschool.so/gastracker

For Ethereum and polygon.

2.https://www.tradingdigits.io/gasFees

For Ethereum and bitcoin.

4. Gas wars

Gas wars mostly happen when the network is congested. This is when there's a really large usage of the network and users pay above the market range to frontrun other transactions.

There are mainly 3 ranges in the gas option

1.High

2. Medium (Market)

3.Low

The ranges are in accordance to how fast you want your transaction to run, but the faster the more gas you would pay.

5.Conclusion:

Cryptocurrency gas fee helps to power some of the world's largest blockchains. Although Ethereum's gas fees remain an issue ( cost alot ), developers are working on strategies to address scalability concerns. Also, with the rise in layer-2 solutions and Ethereum competitors(arbitrum, optimism) interacting with dApps without paying exorbitant fees is easier than ever before.