People who often use blockchains such as Ethereum must be familiar with the word Gas. So, what is Gas?
Gas means "fuel, gasoline" in English, and it does have a similar function to "gasoline" in the blockchain. The blockchain is a decentralized network composed of countless nodes. In this network, each node can be regarded as an independent server and performs data processing and calculation. The services provided by these nodes are not free, which is also a unique incentive mechanism of the blockchain.
Users can join the blockchain network as nodes and contribute their own resources. While contributing resources, you can also get a certain reward. Gas fee is the remuneration paid to these nodes, mainly to measure the computing and storage resources consumed by messages. Just like gasoline keeps a car going, Gas in the blockchain also maintains the computing and storage required for the network to operate.
In the process of using the blockchain, a certain gas fee will inevitably be generated. Generally speaking, the higher the gas fee paid by the user, the more nodes will give priority to providing services, thereby speeding up the data processing efficiency. Under normal circumstances, users only need to pay normal Gas fees, but when the blockchain starts to be congested, higher Gas fees will allow them to avoid congestion.
Of course, users do not just pay for Gas in the blockchain. As part of the network nodes, users can also obtain benefits by providing network services. This cyclical operation mode allows users to have more Many choices.
Gas fees are generally not fixed, although many people are distressed that blockchains such as Ethereum are often floating and want it to be fixed. But in the current situation, fixed Gas is not a good thing.
People's demand for the blockchain is increasing, but the block space of the blockchain is limited, which makes some transactions must be prioritized. If the gas fee is fixed, it will inevitably lead to some opaque and non-public means to obtain data processing priority. This will be a heavy blow to the transparent and open nature of the blockchain. At the same time, if there is no price priority mechanism, it may also cause some urgently needed data to be queued for a long time, sacrificing the timeliness of the data.
In addition, if the gas fee is fixed, how to set the price reasonably is also a big problem. It is not appropriate to set it too high or too low. Too low will harm the interests of node providers and is not conducive to the long-term development of the blockchain network. Too high will make users unwilling to pay, waste a lot of blocks, and eventually have to be adjusted according to the market.
From the perspective of long-term development, a free market is very beneficial. Gas is not fixed, and for the entire blockchain field, the advantages outweigh the disadvantages. Of course, if the blockchain wants to develop better, it also needs a stable environment. Therefore, setting a fluctuation range for the fluctuation of Gas fees is a very worthwhile solution.