Overview
Gas price is the amount a user pays per unit of gas, influencing transaction confirmation speed. It reflects network demand. Users balance cost and speed.
How It Works
A user sets a gas price (or max fee) that competes with others for inclusion. Validators prioritize higher-paying transactions. Prices spike during congestion.
Why It Matters
Gas price determines transaction costs and speed. Getting it wrong wastes money or delays transactions. Fee estimation tools help users set appropriate values.
Related Concepts
Gas price relates to Gas Fees and Transaction Fees. It is affected by Base Fee and Priority Fee under EIP-1559.