Getting a transaction through requires that you propose a “mining fee” that will convince one of the blockchain’s host “miners” to circulate your transaction to the rest of the blockchain as part of a block. To ensure your transaction goes through, Jaxx Liberty calculates a range of appropriate mining fees based on the relevant blockchain’s last 100 blocks, but lets users adjust their mining fees within that range as an option within Menu > Settings > Mining Fees :
- Lower
- Typical
- Higher
Higher fees cost more, but increase the chance that miners include your transaction in a block soon.
To ensure your transaction goes through regardless of your selection, the mining fees Jaxx Liberty sends are determined dynamically - they go up or down based on the state of the network. The more congested it is, the higher the fees are.
We should note that none of these fees go to Decentral. They go only to miners, in return for ensuring the transaction is logged to the blockchain in a timely fashion; and to support the network itself.
Note:
- ETH transactions that interact with a contract address will be more costly.
- As newer coins are implemented, each coin is subjected to their own transaction fee that goes to their respected networks.