Users specify maximum limits to pay for their transaction to be executed. This optional parameter is the max fee PerGas, and it must exceed the sum of the base fee and the tip. The transaction sender is refunded the difference between the sum of the base fee, the tip, and the max fee i.e., max fee 8211 base fee tip is returned. ETH gas fees are high primarily due to the network's limited capacity and the proof-of-work PoW consensus mechanism. Each block has a finite space, and users must bid against each other with gas fees to have their transactions included by miners. But there is another answer to the question: why are Ethereum fees so high? The popularity of DeFi applications and NFTs has also increased the demand on the network, leading to higher fees. As an example of the total gas fee formula, suppose I want to send you 1 ETH and the average amount of gas required to transfer ETH on the Ethereum network is 21,000 units. That would be my gas limit. The minimum amount of gas required to send the transaction at the time base fee is 120 gwei. I want to speed up the transaction, so I add a 20 gwei tip.
what are crypto gas fees