EthereumIntermediate

Base fee

Ethereum’s protocol-set execution fee per gas unit, which adjusts with block demand and is burned.

PLAIN-ENGLISH DEFINITION

In more detail

The base fee is the part of an Ethereum execution fee determined by the protocol. It changes as blocks fill above or below their target usage, so yesterday's quote isn't today's promise. This part is burned rather than paid to the block proposer; a priority fee is a separate component.

IN THE WILD

How you might use it

Your wallet’s maximum fee no longer covers the rising base fee, so the transaction waits until it can be included or you replace it.

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By Crypto Dictionary · Published · Updated

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An original explanation with a reference to follow. Protocol details and community usage can evolve. Sources & standards

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