Situation where users compete by bidding up transaction fees to get their transactions included first, typically during high-demand events like token launches or NFT mints. On Solana, gas wars manifest as priority fee bidding rather than Ethereum-style base fee spikes, with users paying higher compute unit prices for preferential inclusion.
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Situation where users compete by bidding up transaction fees to get their transactions included first, typically during high-demand events like token launches or NFT mints. On Solana, gas wars manifest as priority fee bidding rather than Ethereum-style base fee spikes, with users paying higher compute unit prices for preferential inclusion.
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Gas Wars (gas-wars) Category: Web3 Definition: Situation where users compete by bidding up transaction fees to get their transactions included first, typically during high-demand events like token launches or NFT mints. On Solana, gas wars manifest as priority fee bidding rather than Ethereum-style base fee spikes, with users paying higher compute unit prices for preferential inclusion. Related: Priority Fee, Transaction Fee, MEV (Maximal Extractable Value)
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An optional additional fee paid on top of the base fee to increase the likelihood that a transaction is processed quickly by the current leader, expressed as a price in micro-lamports per compute unit (CU). The total priority fee equals (compute unit price × compute unit limit) / 1,000,000 lamports. Leaders sort transactions in their queue by fee-per-CU, so setting a competitive priority fee is the primary mechanism for ensuring reliable transaction landing during congestion.
The total SOL cost to submit a transaction on Solana, composed of the base fee (5,000 lamports per signature) plus any optional priority fee (compute unit price × compute units consumed). Unlike Ethereum, Solana fees are not purely dynamic gas auctions — the base fee is fixed and priority fees are additive. Fees are deducted from the fee-payer account before execution; if the account lacks sufficient SOL, the transaction fails.
The profit validators/block producers can extract by reordering, inserting, or censoring transactions within a block. MEV includes frontrunning (trading before a large order), sandwich attacks (surrounding a swap with buy/sell), and arbitrage. On Solana, Jito's block engine provides an MEV auction system where searchers submit bundles with tips.
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The practice of minimizing computational costs in smart contracts to reduce transaction fees and fit within resource limits. On Solana: reduce account reads, use zero-copy deserialization for large accounts, minimize logging, pre-compute PDAs. On Ethereum: use packed storage slots, avoid dynamic arrays, use events instead of storage for read-only data.
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An optional additional fee paid on top of the base fee to increase the likelihood that a transaction is processed quickly by the current leader, expressed as a price in micro-lamports per compute unit (CU). The total priority fee equals (compute unit price × compute unit limit) / 1,000,000 lamports. Leaders sort transactions in their queue by fee-per-CU, so setting a competitive priority fee is the primary mechanism for ensuring reliable transaction landing during congestion.
The total SOL cost to submit a transaction on Solana, composed of the base fee (5,000 lamports per signature) plus any optional priority fee (compute unit price × compute units consumed). Unlike Ethereum, Solana fees are not purely dynamic gas auctions — the base fee is fixed and priority fees are additive. Fees are deducted from the fee-payer account before execution; if the account lacks sufficient SOL, the transaction fails.
The profit validators/block producers can extract by reordering, inserting, or censoring transactions within a block. MEV includes frontrunning (trading before a large order), sandwich attacks (surrounding a swap with buy/sell), and arbitrage. On Solana, Jito's block engine provides an MEV auction system where searchers submit bundles with tips.
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The vision of a decentralized internet built on blockchain technology, where users own their data, identity, and digital assets. Web1 was read-only (static pages), Web2 is read-write (platforms like social media), Web3 is read-write-own (permissionless, user-sovereign). Web3 applications use wallets instead of logins and smart contracts instead of centralized servers.
An application with its backend logic running on a blockchain as smart contracts rather than centralized servers. dApps typically have a traditional web frontend that interacts with on-chain programs via RPC. Users authenticate with wallets instead of username/password. Examples: Uniswap (Ethereum DEX), Jupiter (Solana DEX), Magic Eden (NFT marketplace).
Software or hardware that manages cryptographic keys and enables users to sign transactions, view balances, and interact with dApps. Hot wallets (Phantom, Solflare, Backpack) are internet-connected for convenience. Cold wallets (Ledger, Trezor) store keys offline for security. Wallets don't actually 'hold' tokens—they hold the private keys that control on-chain accounts.
A 12 or 24-word human-readable backup of a wallet's master private key, generated using BIP-39 standard. The seed phrase can deterministically regenerate all derived keypairs (BIP-44 derivation paths). Losing the seed phrase means permanently losing access to all associated accounts. Never share, photograph, or store seed phrases digitally in plain text.