How to understand Filecoin Gas Fees? Even a novice can understand

How to understand Filecoin Gas Fees? Even a novice can understand

This article was originally written by IPFS Force Zone

"Gas" was originally used in the Ethereum blockchain as a measure of the computing and storage resources consumed by on-chain information. Now the concept is also used in the Filecoin network. Gas is considered the fuel of the Filecoin network. Just like the fuel consumption of a car during driving, sending messages on the Filecoin blockchain also consumes certain network resources , so the message sender needs to pay the Gas fee with FIL .
 

5 elements



The participants involved in the process of message sending and packaging mainly include message senders and block packaging miners . The Gas fees involved include GasLimit (Gas fee limit), GasUsage (Gas actually used), GasFeeCap (Gas fee limit), GasPremium (Gas used with priority), and BaseFee (basic fee) .
 

Interrelationship



Let's use the analogy of the fuel costs of driving a car. Sending message A on the Filecoin chain is like a car driving on a section of road a. The message sender is like the driver. When he sets the GasLimit and GasFeeCap for A to be packaged , it is like estimating the fuel consumption and unit price of gasoline for A's driving. In order to be packaged smoothly (drive smoothly to the end), the set values ​​at this time are all expected maximum values .
 
The consumption of driving is affected by the distance, and of course by the weather, wind resistance, terrain, etc. Based on the experience of fuel consumption in the previous section of the journey, the road a behind has a basic fuel consumption cost under ideal conditions. Compared with Filecoin , this estimated cost is BaseFee . In order to reach the destination faster, the driver can change 92# gasoline to 98#, which improves the driving experience and driving speed, but also increases the cost . GasPremium in the 5 elements is the cost that is actively set so that the sender's message can be packaged with higher priority; when the distance, environmental impact, gasoline model, etc. are determined and the car starts driving, the actual cost consumption is clear, so GasUsage is defined in the 5 elements, that is, the Gas cost actually consumed by the message.
 

  Figure 1. Fees for message A, IPFS Force Zone

 

Gas Fees Consumption Reasons



Back to the message packaging scenario, as the resources on the chain are consumed, GasUsage * BaseFee will be burned . After all, a moving car will also have part of its power wasted by road friction. Subtracting BaseFee from GasFeeCap will generate GasPremium , and GasPremium * GasLimit will be rewarded as a priority fee to the miner who packages message A into the block . In addition, the difference between the estimated fee GasLimit and the actual fee GasUsage will be consumed as an overestimated loss (just like taking too much gasoline on the road, some of it will evaporate), and finally the rest of the budget will be returned to the message sender.

 

Figure 2. Fees paid by senders, IPFS Force Zone
 
The current default mode of the Filecoin network is that miners subjectively choose message packaging based on GasFeeCap/GasLimit. Given GasLimit , it can maximize the expected benefits of miners and improve the overall efficiency and experience of the service. When the network is congested (poor traffic conditions) and the BaseFee (waste consumption caused by friction) is high, miners can choose to compress blocks (reduce message packaging), thereby reducing the total GasLimit (reducing the distance) to reduce BaseFee.
 

Brief meaning



The consumption of Gas Fees not only motivates miners to maintain network data, but also optimizes the economic structure details, providing service quality assurance for these types of messages. This will enable customers, miners, R&D, and coin holders within the ecosystem to form a more lasting cohesion, and provide Filecoin with a profit-grabbing long-term development that closely follows the 'storage' and weakens the 'mining' business.

／End.

Statement: This article is an original article from IPFS Force District. The copyright belongs to IPFS Force District. It may not be reproduced without authorization. Violators will be held accountable according to law.

Tip: Investment is risky, so be cautious when entering the market. This article is not intended as investment and financial advice.


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