Tag: Ethereum

UNDERSTANDING ETHEREUM GAS FEES: STRATEGIES TO MINIMIZE COSTS

Ethereum’s gas fees have been a hot topic since they reached a record high on May 12, 2021, with an average gas price of 373 gwei, as reported by Etherscan. Such spikes in fees can make transactions and smart contract executions prohibitively expensive, costing users anywhere from $50 to several thousands of dollars. In today’s digital landscape, navigating these costs is essential…

NFTs Explained | A Detailed Guide On Everything you need to know About NFTs

The word NFT can simply be pronounced as N-F-T or instead pluralized. NFTs are known as Non-fungible tokens. What are Non-fungible tokens? Before diving straight into explaining what a non-fungible token is, be rest assured that in this article, you’ll get to know more about the types of Nfts, Nfts and their real-life cases, and platforms that you could navigate to get…

What are Smart Contracts? | Introduction to Smart Contracts.

A Smart Contract is a coded set of instructions that executes a predefined function when specific conditions are met. It serves as a fundamental element of the Ethereum Blockchain and other Layer-2 blockchains. The phrase “when certain conditions are met” states that smart contracts operate based on the principles of conditional logic, expressed through “IF” and “THEN” statements. Here’s an example: Consider…