Are there any fees associated with using ETC tokens or transactions on the network?
Yes, there are fees associated with using ETC tokens or transactions on the Ethereum Classic network.
These fees are known as “gas” and are paid in ETC. Gas is used to pay for the computational resources required to execute a transaction on the Ethereum Classic blockchain. The amount of gas required for a transaction depends on the complexity of the transaction and is determined by miners who validate transactions on the network.
The cost of gas is determined by two factors: the amount of Ether (ETH) being sent and the current gas price. The higher the ETH amount being sent, the more gas is required to process it. The current gas price is determined by miners and can fluctuate depending on network demand.
When sending ETC tokens or making a transaction on the Ethereum Classic network, users must specify how much gas they are willing to pay for their transaction to be processed. If they do not specify enough gas, their transaction will not be processed and they will lose their ETC tokens.
