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Add Learn Quiz: Gas Fees #14752

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@SupaMega24

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https://ethereum.org/en/gas/

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1. What are gas fees?

A. A fee associated with transactions and smart contract operations
B. The amount of gas used to perform an operation, multiplied by the cost per unit of gas
C. A payment that includes a priority fee to potentially expedite transaction processing
D. All of the above

Correct Answer: D

Gas fees encompass all these aspects: they compensate for computation (B), apply to both transactions and smart contracts (A), and can include priority fees for faster inclusion (C).

Section Reference: What are gas fees?

Explanation:

  • A. Gas fees represent the cost of transactions and smart contract operations
  • B. While gas is a unit that measures computation, gas fees are the actual cost required to pay for that computation.
  • C. The total gas fee includes a base fee and a priority fee that can influence transaction processing speed

2. Which of the following is the LEAST effective strategy for reducing the cost of gas?

A. Executing transactions during low-congestion periods

B. Waiting for gas prices to decrease

C. Using layer-2 chains for lower fees

D. Using complex smart contract logic that increases computational requirements

Correct answer: D

Complex smart contract logic increases gas costs by requiring more computation. Efficient design minimizes steps, storage, and redundant operations to reduce fees.

Section Reference: How do I pay less gas?

Explanation of incorrect answers:

  • A: Timing transactions during off-peak hours can lower gas costs.
  • B: Waiting for gas prices to decrease is a valid strategy since gas fluctuates based on congestion.
  • C: Layer-2 solutions reduce fees and are an effective way to save on gas.

3. What causes gas fees to be high?

A. Network computation exceeding a specific threshold

B. Validators increasing the base fee manually

C. Well-written, optimized smart contracts

D. A lack of available ETH on the network

Correct answer: A

When computation on Ethereum exceeds a threshold, gas fees increase, especially during high activity periods like dApps or NFT drops.

Section reference: What causes high gas fees?

Explanation of incorrect answers:

  • B: Validators do not manually set base fees; they are determined by the protocol.
  • C: Well written smart contract logic such as efficient use of storage and loops can lead to lower gas consumption.
  • D: Gas fees are not affected by the amount of ETH available on the network.

4. How do gas fees help keep Ethereum secure?

A. By incentivizing validators to act honestly

B. By disincentivizing spam and malicious activity with financial costs

C. By ensuring transactions are processed in order of priority

D. By increasing the total amount of ETH in circulation

Correct answer: B

Gas fees make spam or malicious activity expensive, preventing abuse and helping maintain network stability.

Section reference: Why do we need gas?

Explanation of incorrect Answers:

  • A: Validators are compensated in a few ways, but gas fees primarily discourage spam and excessive resource use.
  • C: Priority can be determined by the tip, not the gas fees themselves.
  • D: The base fee (part of the total gas fee) is burned, reducing ETH in circulation, not increasing it

5. How are gas fees calculated?

A. Gas price × transaction size

B. Units of gas used × (base fee + priority fee)

C. Block size × validator tip cap

D. Base fee + priority fee + tip

Correct answer: B

Gas fees are determined using the formula: units of gas used × (base fee + priority fee).

Section reference: How is gas calculated?

Explanation of incorrect answers:

  • A: Gas fees are based on computation, not transaction size.
  • C: Block size does not directly factor into this formula.
  • D: The base fee and priority fee are part of the formula; the tip is the priority fee.

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