The EVM uses gas to assess complexity smart contract operations and so corresponding fees. In Ethereum , gas costs for an operation are converted into ETH through the gas price parameter that an Ethereum user stipulates for a transaction. Similarly, in Hedera, gas costs for a Solidity smart contract operation (such as running the constructor, storing runtime bytecode, and subsequent contracts calls) are converted into a fee component via a coefficient in the published fee schedule. Unlike in Ethereum, clients need not specify higher or lower ‘gas price’ in order to encourage processing of a transaction into consensus – all clients use the same equivalent ‘gas price’.
Articles in this section
- What does a COST_ANSWER query return?
- Are there any free operations?
- How is Solidity gas accounted for in determing the fee for a smart contract operation?
- Who pays for threshold records?
- How many accounts are associated with an hbar transfer?
- How is the fee for a query paid?
- Why are transaction receipts free to request? But transaction records not?
- Why does a query have no network or service fee component?
- Why do transactions from a multi-signature account cost more?
- Do transaction fees account for ‘rent’?