What is the miner fee?
Miner fee is also known as network fee. You need to pay ‘miner fees’ during the transfer of BTC, ETH and other digital currencies. Miner fees are paid to miners or validators to encourage them to pack transactions into chains and maintain the security of the blockchain. Miner fees can also be regarded as transaction fees on the blockchain network, similar to the fee for transfer in daily life.
Features of miner fees:
- The miner fees are constantly changing, and the specific amounts are determined by the state of the network at that time;
- Different networks have different ways of calculating miner fees;
- The higher the miner fees you pay, the sooner your transaction will be confirmed;
- Not all token transfers require miner fees. For example, transferring EOS and TRON do not require miner fees.