Overview
The base fee is the minimum gas price required for a transaction after EIP-1559, and it is burned rather than paid to miners. It adjusts based on network demand. It makes gas fees more predictable.
How It Works
The base fee changes proportionally to block fullness: when blocks are full, it rises; when empty, it falls. Every transaction pays the base fee, which is destroyed. Users can add a priority fee to speed inclusion.
Why It Matters
The base fee improves fee predictability and burns Ethereum supply. It reduces the importance of fee auctions and MEV. Understanding it helps users estimate transaction costs.
Related Concepts
The Base Fee is part of EIP-1559 and connects to Gas Fees, Priority Fees, and Blocks. It is central to Ethereum fee economics.