What is the concept of “gas fees” in Ethereum transactions?

Gas fees are transaction fees paid to miners or validators on the Ethereum network for executing and verifying transactions and smart contracts. The term “gas” refers to the unit used to measure the computational work required to process a transaction. When users initiate a transaction on Ethereum, they must specify a gas limit (the maximum amount of gas they are willing to pay) and a gas price (the rate they are willing to pay per unit of gas). The higher the gas price, the more likely a transaction will be processed quickly, as miners prioritize transactions with higher fees. Gas fees fluctuate based on network congestion and demand for computational resources.