Transaction Fee
The amount paid to miners or validators for including a transaction and consuming scarce block space or execution resources.
- Also known as
- Network FeeGas FeeMiner Fee
A transaction fee compensates block producers for including a transaction and helps allocate limited block space. When demand is high, users often raise fees to improve confirmation priority.
Fee units differ by chain. UTXO networks commonly price transactions by size, such as satoshis per byte or virtual byte, while EVM networks use gas for computation and storage.
Users can manage fees by waiting for lower congestion, batching payments, consolidating UTXOs when fees are low, using fee estimation tools, or applying RBF/CPFP where supported.
Related terms
6 linkedExplore connected entries beyond the alphabetical index.
Transaction
→A signed data message that asks a blockchain to transfer value, execute code, or update state.
Mining
→The process by which new coins or tokens are minted and transactions are confirmed on a blockchain through computational work.
Mempool
→A temporary storage space in a node for pending transactions that have not yet been included in a confirmed block.
Gas
→The metered unit of computational work on EVM chains, paid in the native token to run transfers and smart contracts.
Fee Rate
→A fee rate is the transaction fee per unit of size, such as satoshis per vbyte, used to prioritize block inclusion.
Batching
→Combining many payments into a single transaction to reduce fees and chain load.
All terms and definitions may update as the Cryptionary improves.
