What are the transaction fees associated with using Avalanche?
The transaction fees associated with using Avalanche depend on the type of transaction being performed.
For example, when sending a transaction, users must pay a fee in AVAX tokens. This fee is determined by the network and is based on the size of the transaction and the number of transactions that have been sent recently. The fee is also affected by the amount of AVAX tokens held by the sender.
In addition to this, Avalanche also has a gas fee associated with certain transactions. This gas fee is paid in AVAX tokens and is used to cover the cost of running smart contracts on the network. The amount of gas required for a particular transaction depends on its complexity and can vary from one transaction to another.
Finally, Avalanche also has a network fee which is paid in AVAX tokens and is used to incentivize validators for their work in verifying transactions on the network. This fee is determined by an algorithm that takes into account several factors such as the number of validators, total network throughput, and other factors.
