⛽ Current
- Base fee
- priority
🕘 Avg/last hour
baseFee: 5000
Devnet Fee Tracker
- Base fee
- priority
baseFee: 5000
Transaction fees are a fundamental element for any public blockchain network such as Devnet. Understanding how they work is key to efficiently use and develop on Devnet and can greatly reduce the costs required to deploy and transact with the network.
Median Fee Rates
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Average Devnet Transaction Costs
| Transaction | Lamports | $ USD |
|---|---|---|
| SOL Transfer | 5,000 | $0.00 |
| SPL Token Approval | 10,000 | $0.00 |
| SPL Token Transfer | 15,000 | $0.00 |
| NFT Transfer | 25,000 | $0.00 |
| Raydium Swap | 35,000 | $0.00 |
| Jupiter Swap | 45,000 | $0.00 |
| Magic Eden Sale | 65,000 | $0.00 |
| Liquidity Provision | 75,000 | $0.00 |
| Wormhole Bridge Transfer | 100,000 | $0.00 |
| SNS Name Registration | 120,000 | $0.00 |
| Custom | $0.00 |
Other Networks
Devnet Fees Explained
Transaction fees are an important concept within the Web3 world. They are the costs required to execute transactions on the network. Similar to how a car needs gasoline to drive. Most public blockchains denominate these transaction fees in their native currency.
There are a few crucial aspects of transaction fees in public, permissionless networks:
- Every transaction published on a blockchain imposes a cost of downloading, executing and verifying it. People who run a node (validators) spend time, money and effort to do this for which they are compensated. Transaction fees are rewarded to them for providing these services.
- A fee market allows prioritization of transactions by adding a priority fee for validators to process specific transactions more quickly.
- For smart contract platforms, it avoids computational waste in code, by setting limits to resource usage when executing programs.
- Additionally, it prevents accidental or hostile infinite loops, e.g. denial of service ('DDoS') attacks. In a DDoS attack, an attacker tries to flood the network by spamming empty transactions. A fee market ensures that doing such attacks, for an extended period of time, becomes expensive.