The total gas fee paid is made up of the following:
- Base fee: set by the network and must be paid to make a transaction
- Priority fee: an optional tip to incentivize node operators to add your transaction
- Gas units used*: Remember when we said that gas represents computation? Complex operations (such as interacting with smart contracts) use more gas than simple operations (such as sending transactions).
The gas fee calculation formula: Gas units used * (Base fee + Priority fee). Most wallets calculate gas usage and display it in a more intuitive way.
