New Contest | The Tech Quiz - Season 20

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Hello steemians good to have you all here today how are you all doing I hope all is well and you all are having a nice and wonderful day, as fod me I'm perfectly fine and enjoying my day all thanks to his grace

Today in my entry I will be participating in the tech quiz contest season 20 organize by @malikusman1 here in the Steem4bloggers community.

Even with our local banks a certain fee is being charged when ever we carry out a transaction and same is applicable on a blockchain, a gas fee on a blockchain is simply the certain amount of money or token required to carry out or execute a transaction on a blockchain

And since it is being included on the blockchain that means that it has it's own special reasons and importance and some of it's importance are;

• A gas fee on the blockchain serves as a means of signal which reminds validators to promptly and accurately validate a transaction on the blockchain

• In the process of transferring tokens or funds a gas fee plays a 100% Importance in ensuring the success rate of such transaction

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I have been transferring tokens in and out in my binance wallet and I have come to realize the kind of blockchain that has the highest transaction fees which is the charge that will be deducted from your assets for a particular transaction.

Throughout my crypto journey I have realized that Bitcoin has the highest transaction fee on the entire blockchain and I don't know but I think it's because it has the highest value in the entire blockchain put together.

When trying to transfer Bitcoin to another wallet sometimes the transaction fee that will be charged can even finish your entire funds if you had little assets, that is why when I want to transfer out my coins I will first of all convert it to USDT then from the I will then transfer it out and I will be charged 0.33 which is 470 naira.

The only Blockchain network that has the cheapest transaction fee as compared to other blockchains is the BNB smart chain (BEP20), This has been the only blockchain that has been charging less transaction fees compared to other blockchains like the Bitcoin blockchain, polygon network, ethereum network etc

^{This will be the end of my entry and I certainly hope that you all learned something from it and I will like to invite some of my friends @edmund.nef, @eliany & @irawandedy to also participate in this amazing contest}