Try Quests to earn AVAXAvalanche Gas Fees
This dashboard will look at gas fees generated by contracts and dApps on Avalanche. We will also analyze other stats regarding the growth of contracts and dApps on Avalanche such as the number of transactions and user activity.
Avalanche (AVAX) is a blockchain platform and cryptocurrency that offers competition to Ethereum. It utilizes smart contracts to support blockchain projects and enables near-instant transaction finality. AVAX serves as the native token of the Avalanche blockchain and is used to pay transaction fees, secure the network, and act as a basic unit of account.
Launched in 2020, Avalanche aims to be a fast, versatile, secure, affordable, and accessible blockchain platform. It is an open-source project, meaning anyone can view and contribute to its code. The Avalanche blockchain is governed by the proof-of-stake mechanism, which requires AVAX holders to stake their tokens in exchange for the right to validate transactions.
Validators who hold the most staked AVAX tokens and actively participate are more likely to be chosen for new Avalanche blocks. In addition, holding AVAX tokens is necessary to vote on Avalanche governance proposals. The platform boasts a processing speed of 4,500 transactions per second, making it a fast and efficient option for blockchain projects.
Overall, the Avalanche blockchain offers a promising alternative to Ethereum for those seeking a fast, secure, and affordable blockchain platform. With its emphasis on accessibility and open-source development, it is poised to continue growing and attracting new users and developers to its ecosystem.
On the Avalanche blockchain, transaction fees for non-atomic transactions are determined by a Dynamic Fee Transaction system based on Ethereum's EIP-1559. This system consists of a gas fee cap and a gas tip cap, which determine the maximum price a transaction is willing to pay per unit of gas and the maximum amount above the base fee that the transaction is willing to pay per unit of gas, respectively.
To estimate the base fee for the next block, users can utilize the eth_baseFee API method. However, it is important to note that if more blocks are produced between the time a transaction is constructed and included in a block, the base fee could be different from the estimated value provided by the API call. Therefore, users should treat this value as an estimate.
To estimate the priority fee needed for a transaction to be included in a block, users can use the eth_maxPriorityFeePerGas API call. This call takes into account the tips paid by recent transactions in the most recent blocks to determine the priority fee needed for inclusion in a block.
Transactions on Avalanche are ordered by priority fee, then timestamp (oldest first). Based on this information, users can prioritize their transactions by specifying the gasFeeCap and gasTipCap according to their preferences, whether that be to get their transaction included as quickly as possible or to minimize the price paid per unit of gas.