Gas

Gas is the fee paid to use the platform\’s computational power on a number of networks including Fantom and Ethereum. Almost all activities on the blockchain require gas including simple transactions such as sending tokens between traders and using decentralized applications (DApps). On Fantom, the fee is paid using FTM which is the platform\’s native currency.

Gas is consumed in small bits called gwei. 1 gwei is equivalent to 0.000000001 ETH or FTM. The amount of gas required depends on the blockchain\’s congestion level and the amount of resources required to carry a transaction to completion on the EVM. Users can pay a premium by increasing the amount of gwei for a transaction to prioritize their transactions on the block chain. By charging a fee on every transaction, the network is protected against spammers and malicious actors.

Check out the gas tracker on FTMScan to see live .

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