Transaction fee

A small charge paid to process a transaction on a network.

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What is a transaction fee?

A transaction fee, sometimes called a network fee, is paid to the participants who process and confirm a transaction on a blockchain. It rewards them for the work of securing the network.

Why fees change

Fees often rise when the network is busy, since users effectively bid for limited space in the next block. They are separate from any fee a platform or service might charge.

Related terms

A trial version of a blockchain used to test features without real funds.

A participant that checks and confirms transactions on a Proof of Stake network.

The native asset of the XRP Ledger, built for fast, low-cost payments.

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