Test Your Knowledge
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1. What is the purpose of gas fees in blockchain networks?
A) To incentivize miners and validators to secure the network
B) To reward users for holding tokens
C) To ensure faster transaction speeds without any cost
D) To prevent cross-chain swaps from happening
2. How are gas fees calculated in blockchain transactions?
A) By the time it takes to complete the transaction
B) Based on the gas limit and gas price
C) By the size of the transaction only
D) By the number of tokens involved in the transaction
3. What is a key benefit of using a gas calculator for blockchain transactions?
A) It allows you to avoid all transaction fees
B) It helps users estimate transaction costs and optimize their spending
C) It guarantees no fluctuations in gas fees
D) It automatically adjusts the gas limit to the lowest value