The Tech Quiz - Season 20

Hello everyone how are you all doing today thanks to @malikusman1 you are really doing a great job here in Steemit your contest is always interesting that's why i love to participate in it.

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What is gas fee in blockchain technology and it's importance?

Gas fees in blockchain technology simply means the transaction fees requireed to successfully execute operations on a block chain network for example ethereum.

And this fees are paid in cryptocurrency and are also used to compensate the network participants for processing and validating all the transactions and gas fees are important because they incentivize network participants to process transactions and secure the network and also prevents network congestion.

Which block chain has higher transaction fee?

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According to my knowledge in the crypto space I have been on the crypto space for 4 years now so currently to me I will say it is the ethereum block chain has the higher transaction fees so I will advice you all my fellow steemians to always check the current fees before making any transactions.

Which blockchain has less transactions fees as compared to other.

Currently it is the binance smart chain (BSC) which is know for having the lower transaction fees compared to other blockchains like the one i first mentioned ethereum.

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And this binance Smart chain is also popular for it's faster and cheaper transaction which makes it a preferred choice for many user's and developers as well

However, transaction fees can fluctuate based on network congestion and other factors, so it's essential to check the current fees before making any transactions as you all know that crypto is a risk and everyone needs to be very much careful once it comes to trading.

Thanks for reading my post I'm inviting @josepha @rad-austine and @emmy01 to participate in this contest I will appreciate you reading this post to support me with your comments and upvote as well.