What are Network Fees and Transaction Fees??

 

Transaction fee

• Although the terminology is slightly different for each service, such as gas fee and network fee, it refers to the fee incurred in the process of block creation and transaction processing in the blockchain system. This not only protects the network from spam attacks but also provides incentives for validators.

• Fees may vary depending on network traffic. If you see different fees for each hour, this is most likely the reason.

• In Burrito Wallet, you can check the fee (network fee) that occurs when transferring tokens, and even after the transfer is complete, you can check the fee (network fee) for each transaction on the “Transaction History > Transaction Details” screen.