A gas pricing model defines the mechanism by which users pay for computational resources and data storage on a blockchain network. This model typically determines the cost of executing transactions and smart contract operations, often using a unit called gas. It aims to prevent network spam, allocate resources efficiently, and compensate validators for their work.
Context
Ethereum’s EIP-1559 introduced a significant change to its gas pricing model, shifting from a simple auction to a system with a base fee that is burned and a priority fee for miners. The discussion often involves the effectiveness of various models in managing network congestion and providing predictable transaction costs. Observing how different blockchains adjust their gas pricing to scale and maintain economic stability is a key area of focus.
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