NFT Glossary Deep Dive: Gas / Gas Fees
Ellen Britt for CNT #NFT Just like you pay for gas to fuel your car, you will need to pay for gas in terms of a gas fee to run the blockchain. These fees, which are required in order to process your transactions on the blockchain, pay for the energy required to complete those transactions. One of the differences between the Ethereum platform, which powers the NFT space, and other cryptocurrencies such as Bitcoin, is that the gas fees are used by miners to process transactions. The currency used by the Ethereum platform is ether (ETH) but the gas prices…