Transaction fee

A transaction fee is a fee charged by cryptocurrency networks to process transactions. Every time a transaction takes place on a cryptocurrency network like Bitcoin or Ethereum, some fees are charged to network participants. These fees are paid by the users who initiate the transaction, and they compensate the network’s validators who confirm and process the transaction. Transaction fees are an important aspect of cryptocurrency networks as they prevent the network from being overloaded with transactions and they also add security to the network. The higher the transaction fee, the more attractive the transaction is for validators to add to the blockchain.