Transaction Fee
By CoinGecko | Updated on Mar 03, 2020
Time and resources are required in order for miners and validators to hash and sign a block on the blockchain, a transaction fee the the blockchain users is an incentive mechanism for the miners and validators to contine playing their role and securing the network with computational powers.
Transaction fees are usually nominal and free-market based, where users can set the amount of fee they are willing to pay and the miners able to set the preference for which transaction to mine and reward from until an equilibrium is met.
Related Terms
Super Staker
A Qtum Core wallet (full node) providing Proof of Stake for delegated addresses, and keeping a small part of each block reward as their fee for providing the staking services.
Tangle
The name for IOTA's Directed acylic graph (DAG) based transaction settlement layer.
Total Value Locked
Total Value Locked (TVL) represents the number of assets that are currently staked in a protocol or the total quantity of underlying amount of funds that a DeFi protocol has secured.
Satoshi
A unit measure for the smallest divisible unit of a bitcoin. 1 bitcoin is equal to 100 Million Satoshi.
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