What factors influence the live ETH gas price?

1 answers

• Nov 23, 2021 · 3 years ago
  As an expert in the field, I can tell you that the live ETH gas price is influenced by various factors. One of the key factors is the Ethereum network's gas limit. The gas limit determines the maximum amount of computational work that can be performed in a block. When the gas limit is reached, transactions with lower gas fees may be delayed or excluded from the block. Another factor is the network congestion. If there are many pending transactions, the gas price tends to increase due to increased competition for block space. Additionally, the complexity of the transaction or smart contract also affects the gas price. More complex operations require more gas, resulting in higher fees. It's important to consider these factors when planning transactions or analyzing the live ETH gas price.
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