What is “Gas” and how does it affect transactions made through ImmutableX ?
Gas is a term used to describe the fee associated with a transaction on the Ethereum blockchain.
It is paid in Ether (ETH) and is used to incentivize miners to process transactions on the network. Gas is also used in ImmutableX, which is an Ethereum-based protocol for trading digital assets. Gas fees are required for any transaction made through ImmutableX, including buying, selling, transferring, and exchanging digital assets.
The amount of gas required for each transaction depends on the complexity of the transaction and the current network congestion. The gas fee helps ensure that transactions are processed quickly and securely by incentivizing miners to prioritize them over other transactions. This helps ensure that users can trust that their transactions will be processed quickly and securely without having to wait too long for confirmation.
Additionally, it helps keep the network secure by making it more expensive for malicious actors to attack it.
