Fees on Chain Network
Chain Network employs a dual-layer fee structure to optimize both execution and security.
L2 Fee
| Aspect | Details |
|---|
| Calculation Formula | transaction_gas_price = l2_base_fee + l2_priority_fee
l2_execution_fee = transaction_gas_price * l2_gas_used |
| Ethereum Comparison | Chain Network's L2 execution fees are significantly lower than Ethereum's fee structure. |
L1 Fee
| Aspect | Details |
|---|
| Purpose | Cover costs for publishing transactions on the Ethereum blockchain. |
| Base Fee | Subject to short-term fluctuations, influenced by network congestion and previous block's base fee. |
| Priority Fee | User-set fee, advised to be kept as low as possible. |
Fee Calculation
| Layer | Calculation Method |
|---|
| Layer 2 (L2) | Estimate using: Gas price × Gas limit |
| Layer 1 (L1) | Calculate using tools like GasPriceOracle. |
| Total Fee Computation | Sum of L2 execution and L1 data/security fees. |
Handling
| Aspect | Details |
|---|
| Transaction Process | Similar to Ethereum, with additional considerations for L2 and L1 fees. |
| Displaying Fees | Essential to show the total of both L2 and L1 fees for accurate cost estimation. |
| Error Prevention | Manage potential 'insufficient funds' errors by accounting for both types of fees. |