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Transaction Fee

A transaction fee is a fee charged to users for making transactions on a blockchain network. Whenever a transaction is made on a blockchain network, the user requesting the transaction must pay a fee in order to incentivize validators to solve new blocks of transactions. The fees also ensure that users are not bogging the network down with infinite transactions by ensuring they have some monetary stake in each transaction. Transaction fees in the cryptocurrency ecosystem are subject to change and may rise during periods of high demand. These fees serve as incentives for miners and validators who earn rewards for successfully mining blocks or staking.