smartcontractkit / full-blockchain-solidity-course-js

Learn Blockchain, Solidity, and Full Stack Web3 Development with Javascript
12.01k stars 2.91k forks source link

Max priority fee #5109

Closed koyuncuoglum95 closed 1 year ago

koyuncuoglum95 commented 1 year ago

Max Priority Fee Definition. #576

[01:34:26] - https://youtu.be/gyMwXuJrbJQ?t=1h34m14s

  1. The statement you provided appears to be related to Ethereum and its transaction fee mechanism. In Ethereum, transaction fees are determined by the gas limit and gas price. The gas limit refers to the maximum amount of gas that a transaction can consume, while the gas price refers to the amount of ether that the user is willing to pay for each unit of gas.

  2. When a user submits a transaction on the Ethereum network, they can include a priority fee, which is the maximum amount of ether they are willing to pay for the transaction to be included in the next block. This priority fee is calculated by adding the maximum gas fee the user is willing to pay and the maximum tip they are willing to give the miners.

  3. Therefore, the statement "the timestamp added to this issue that max priority fee was the max gas fee we are willing to pay plus the max tip we are willing to give the miners" means that the priority fee for a transaction in Ethereum is determined by the maximum gas fee and the maximum tip the user is willing to pay the miners. The timestamp likely refers to the time when this issue or statement was raised or discussed.