[Updated 10.2023]

TL;DR: Ethereum gas fees are a fee that users pay to miners to process their transactions on the Ethereum blockchain. Gas fees can vary based on the complexity of the transaction and the demand for block space.

EDCOIN (EDC) is an ERC-20 token that is built on the ETHEREUM blockchain. Therefore, GAS fees is incurred for every on-chain transaction.

Here is a more detailed explanation:

• Ethereum is a blockchain platform that allows developers to build and deploy decentralized applications (DApps).
• Gas is a unit of measurement used to calculate the computational effort required to execute a transaction on the Ethereum blockchain.
• Gas fees are the amount of ETH that users pay to miners to process their transactions.
• Miners are the people who run computers that validate transactions and add them to new blocks on the Ethereum blockchain.
• Block space is the limited amount of space available in each new block on the Ethereum blockchain.

Gas fees are determined by 2factors:

Gas price: The price that a user is willing to pay per unit of gas.

Gas limit: The maximum amount of gas that a user is willing to spend on a transaction.

The total cost of a transaction is calculated by multiplying the gas price by the gas limit.

Gas fees can vary based on the complexity of the transaction and the demand for block space. 

For example, more complex transactions, such as deploying a smart contract, will typically have higher gas fees than simpler transactions, such as sending ETH to another user. 

Additionally, if there is high demand for block space due to a lot of transactions being processed, gas fees will also be higher.

Here are some tips for reducing gas fees:

• Use a gas fee calculator: There are a number of gas fee calculators available online that can help you estimate the gas fees for your transaction before you send it.
• Wait for off-peak times: Gas fees are typically lower during off-peak times, such as late at night or early in the morning.