What Are IoTeX Gas Fees?
IoTeX gas fees are the transaction costs required to perform operations on the IoTeX blockchain, which is designed to support the Internet of Things (IoT) applications. These fees, paid in IOTX tokens, ensure smooth and secure transactions within the IoTeX ecosystem. Understanding IoTeX gas fees helps optimize costs while interacting with IoT devices and decentralized applications on the network.
What networks are Layer 1 (L1) or Layer 2 (L2)
Layer 1 (L1) networks, like Bitcoin and Ethereum, form the base layer of blockchain technology, providing security and decentralization. Layer 2 (L2) networks, such as Polygon and Optimism, are built on top of L1s to enhance scalability and reduce transaction costs. This guide explores the key differences and popular examples of L1 and L2 networks.
