What factors contribute to transaction fee sizes?

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What factors contribute to transaction fee sizes?

The two main factors affecting fees are the size of a transaction, and demand for block space.

Given that some networks can only contain a limited amount of data in each block, miners or validators are restricted on the number of transactions they can include.

When there are many users sending crypto funds

simultaneously, demand for block space increases, and there are more transactions waiting for confirmation. Sometimes, demand for block space can get so high that

networks experience congestion, and fees surge to

unsustainable levels.

Larger transactions require more space in the block and take longer to validate than smaller ones.

Courtesy- Blockchain News

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