![]() The Ethereum blockchain plans to move from a PoW (Proof of Work) algorithm to a PoS (Proof of Stake) algorithm in late 2021 or early 2022. Fortunately, many collection creators are aware of this issue and are taking steps to sell NFTs in a different way to prevent future gas wars. This is due to buyers wanting to ensure their transaction is processed, so they will choose to pay gwei above current market price. Occasionally, when a trending collection goes up for sale, you may observe a gas war where the gas fees could skyrocket in price to mint a new NFT. That being said, you can use tools like EtherScan to see the current amount of gwei needed for the average transaction, though you will need to remember that all aspects of gas prices will change throughout the day. You can never be 100% sure of the price you will pay until you process the transaction. Not only will the price of each gwei fluctuate along with the price of the Ethereum cryptocurrency, but the amount of gwei needed for a transaction on Opensea.io will also go up or down. Shannon, the American computer scientist and mathematician credited as being one of the fathers of information theory. Gwei is also sometimes referred to as “Shannon” in honor of Claude E. Gwei is the equivalent of 0.000000001 ether (ETH) and it is paid to the miners on the Ethereum network to process fees. While there is currently no way to estimate your gas fees when you are purchasing a specific NFT, you can always start the process to find out the approximate amount of gwei you would need to process the transaction (even this amount will change throughout the day). Note that the process could take several hours.
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