Gas Fees Tracker

What does a Gas Fees Tracker do?

A gas fee tracker is a tool that monitors and provides real-time information on transaction fees within a blockchain network, such as Ethereum. It offers users up-to-date data on gas prices, helping them estimate transaction costs, optimize strategies based on gas price trends, prioritize transactions during network congestion, and ensure cost-efficient transactions. By utilizing a gas fee tracker, users can make informed decisions to minimize transaction fees while ensuring timely processing on the blockchain network.

How do gas fee trackers benefit users?

Gas fee trackers offer several benefits to users navigating transactions on blockchain networks like Ethereum. Firstly, they provide real-time monitoring of gas prices, allowing users to estimate transaction costs accurately. This helps users optimize their transaction strategies by choosing the right gas prices based on current network conditions. Gas fee trackers also enable users to prioritize transactions during busy periods, ensuring timely processing while minimizing fees. Additionally, by analyzing historical data and trends, users can make informed decisions to execute transactions cost-effectively. Overall, gas fee trackers empower users to navigate the complexities of blockchain transactions with greater efficiency and confidence.

What Is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014. The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork. Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

What Is BNB?

Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance — Binary Finance, or Binance. Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. BNB is an integral part of the successful functioning of many of the Binance sub-projects.

What Is Fantom (FTM)?

Fantom is a high-speed, low-cost decentralized smart contract platform, utilizing a directed acyclic graph (DAG) structure. Its bespoke consensus algorithm achieves transaction speeds under two seconds. Founded in 2018, Fantom aims to overcome Ethereum's limitations with a focus on scalability, security, and decentralization. Powered by the FTM token, Fantom offers an open-source ecosystem supporting DApps and digital assets. Key technologies include the Lachesis protocol for consensus and Opera for smart contract deployment. With asynchronous, leaderless, and Byzantine fault-tolerant features, Fantom ensures near-instant finality. Its PoS mechanism enables on-chain governance and seamless interoperability with Ethereum. FTM serves as the native utility token for transactions, network fees, staking, and governance.

What Is Polygon (MATIC)?

Polygon (previously Matic Network) is an Ethereum scaling solution facilitating diverse application development. Its modular SDK supports various chain types. Backed by Binance and Coinbase, it combines Plasma and proof-of-stake, aiming to resolve scalability issues. With up to 65,000 transactions per second and a sub-2 second block confirmation time, Polygon fosters decentralized finance and attracts over 50 DApps. Its native token, MATIC, powers transactions and settlement within the ecosystem.

What Is Optimism (OP)?

Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum. Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token.

What Is Arbitrum (ARB)?

Arbitrum is an Ethereum layer-two scaling solution using optimistic rollups for speed and cost-efficiency. It benefits from Ethereum's security and compatibility while moving computation off-chain. Its native token, ARB, facilitates governance in the upcoming DAO structure. The roadmap for 2023 includes launching Orbit, supporting popular programming languages, expanding validators, and transitioning to layer two with Arbitrum One. A highly anticipated airdrop of ARB was announced, distributing 12.75% of the total supply to early users and DAOs based on their interactions until March 1, 2023, with the token generation event set for March 23, 2023.