What is EVM Gas Fee

"EVM gas fee" refers to the fees associated with gas on the Ethereum Virtual Machine (EVM). In the Ethereum network, gas is the unit that measures the computational work required to execute operations such as transactions and smart contracts. Gas fees are paid by users to compensate miners for processing and validating transactions.

When you initiate a transaction or interact with a smart contract on the Ethereum network, you need to specify a gas limit and gas price. The gas limit is the maximum amount of gas you are willing to spend on the transaction, and the gas price is the amount you are willing to pay per unit of gas.

The total transaction fee is calculated as the product of the gas limit and the gas price. If the gas limit is too low, the transaction may run out of gas before completing, and if the gas price is too low, miners may prioritize other transactions with higher fees.

So, "EVM gas fee" encompasses the cost associated with utilizing computational resources on the Ethereum network for transaction execution and smart contract processing. Users need to set appropriate gas limits and prices to ensure their transactions are processed efficiently and in a timely manner.