Economics Blockchain Primitive

Gas

Unit measuring computational effort required to execute blockchain operations

What is Gas?

Gas is the unit that measures the computational work required to execute operations on a blockchain. When you send a transaction or interact with a smart contract, you pay gas fees to compensate validators for the resources needed to process your request. Gas prevents spam, allocates scarce block space, and ensures network sustainability.

The concept originates from Ethereum but applies broadly—most blockchains have equivalent mechanisms, even if named differently.

How Gas Works

The Basic Model

Transaction processing:

  1. User submits transaction
  2. Estimates gas needed
  3. Sets gas price (fee per unit)
  4. Validators prioritize by fee
  5. Execute and charge actual gas used

Key Components

Gas Limit: Maximum gas willing to spend Gas Price: Fee per gas unit (Gwei on Ethereum) Gas Used: Actual computation performed Total Fee: Gas Used × Gas Price

Operation Costs

Different operations have different costs:

OperationTypical Gas Cost
ETH Transfer21,000
Token Transfer~65,000
Uniswap Swap~150,000
NFT Mint~100,000+
Complex ContractVaries widely

Gas Pricing Models

Legacy (Ethereum Pre-1559)

Simple auction:

  • Users set gas price
  • Miners pick highest bidders
  • First-price auction
  • Volatile, unpredictable

EIP-1559 (Ethereum Post-1559)

Improved mechanism:

  • Base Fee: Protocol-set, burned
  • Priority Fee: Tip to validators
  • Predictable pricing
  • Fee burning reduces supply

Formula: Fee = Gas × (Base Fee + Priority Fee)

Other Chains

Different approaches:

  • Solana: Fixed low fees
  • Cosmos: Configurable per chain
  • Bitcoin: Satoshis per byte
  • L2s: Often much cheaper

Why Gas Matters

Spam Prevention

Without gas:

  • Free transactions invite spam
  • Network overwhelmed
  • No way to prioritize
  • DoS attacks trivial

Resource Allocation

Economic efficiency:

  • Scarce block space auctioned
  • High-value transactions prioritized
  • Market-based allocation
  • Efficient resource use

Validator Compensation

Sustainability:

  • Validators provide service
  • Gas fees compensate work
  • Incentivizes participation
  • Network security funded

Gas Optimization

For Users

Reducing costs:

  • Transact during low-demand periods
  • Use gas trackers
  • Set appropriate limits
  • Use L2s for cheaper transactions

For Developers

Writing efficient contracts:

  • Minimize storage operations
  • Batch transactions
  • Optimize data structures
  • Use libraries wisely

Common Optimizations

Technical improvements:

  • Pack variables efficiently
  • Use events instead of storage
  • Short-circuit evaluations
  • Avoid redundant computations

Gas and Network Congestion

High Demand Effects

When network is busy:

  • Base fee increases
  • Transactions become expensive
  • Lower-value use cases priced out
  • Users wait or pay premium

Historical Congestion

Notable events:

  • NFT mints causing spikes
  • DeFi summer 2020
  • Memecoin launches
  • Network stress tests

Solutions

Addressing congestion:

  • Layer 2 scaling
  • Proto-danksharding (blobs)
  • Better gas markets
  • Alternative chains

Gas on Different Networks

Ethereum

Full gas model:

  • EIP-1559 mechanism
  • Expensive during congestion
  • L2s much cheaper
  • Blob fee market emerging

Solana

Different approach:

  • Very low fixed fees
  • Transaction-based
  • Prioritization fees available
  • Compute units instead

Layer 2s

Inherited + additional:

  • L2 execution cheap
  • L1 data posting costs
  • Total usually 10-100x cheaper
  • Varies by L2 type

Other Chains

Various models:

  • BNB Chain: Ethereum-like, cheaper
  • Polygon PoS: Very cheap
  • Arbitrum: L2 gas + L1 data
  • Avalanche: Dynamic fees

Gas Estimation

Why It Matters

Getting it right:

  • Too low = transaction fails
  • Too high = overpay
  • Estimation difficult for complex transactions
  • Simulation helps

Estimation Methods

Approaches:

  • RPC eth_estimateGas
  • Historical data
  • Gas profiling tools
  • Manual calculation

Estimation Challenges

Complications:

  • State-dependent operations
  • External calls
  • Dynamic behavior
  • Race conditions

The Future of Gas

Improvements

Ongoing development:

  • Account abstraction (sponsored gas)
  • Better fee prediction
  • Cross-chain gas abstraction
  • Intent-based systems

User Experience

Making gas invisible:

  • Apps pay gas for users
  • Fiat onramps
  • Gas tokens
  • Social recovery

Conclusion

Gas is fundamental blockchain economics—the mechanism that prevents spam, allocates resources, and compensates network operators. While gas fees can frustrate users during congestion, they’re essential for sustainable decentralized systems. Understanding gas helps users optimize costs and helps developers write efficient code, while Layer 2 solutions increasingly make gas concerns less burdensome for everyday transactions.