Understanding Transaction Gas & Priority on OP_NET
Gas and transaction priority are crucial components of the OP_NET ecosystem, ensuring the smooth and efficient execution of transactions on the network. This guide explains how gas works, how transaction priority is determined, and what happens to the fees you pay.
How Transaction Priority Works
Transaction priority on OP_NET is determined by a combination of gas used and an optional priority fee. These factors ensure that transactions are processed fairly and efficiently, while giving users the flexibility to expedite their transactions when necessary.
1. Gas Usage
- Every transaction on OP_NET requires a certain amount of gas to execute.
- The gas amount is proportional to the computational resources consumed by the transaction.
- Transactions with higher gas usage are more resource-intensive, which impacts their priority in the mempool.
2. Priority Fee
- Users can include a priority fee in their transaction to boost its priority in the network.
- Transactions with higher priority fees are more likely to be included in the next block.
To ensure your transaction is processed promptly, consider including a priority fee, especially during periods of high network activity.
Burning of Priority Fee and Gas
On OP_NET, all fees—both the gas fee and the priority fee—are burned by being sent to contract addresses that act as dead addresses. This mechanism prevents the fees from being reused or redistributed, maintaining the integrity of the fee system.
Best Practices
- Use gas simulation tools to estimate the required gas for your transaction and avoid underpaying or overpaying.
- Include a priority fee to increase the likelihood of your transaction being processed quickly during times of high network traffic.
- Optimize your smart contract interactions to reduce unnecessary gas usage and minimize transaction costs.
- Check network conditions to adjust your gas and priority fee settings accordingly.