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Gas measures computation and storage on Ethereum. Complex ops (e.g., DEX swaps) use more gas; simple transfers cost ~21,000 gas.

EIP-1559 (London) splits fees into base fee (burned) + priority fee (validator tip). Base fee adjusts with block utilization for more predictable pricing.

Congestion spikes base fees—mainnet interactions can cost tens of dollars. This drove Layer2 growth: rollups execute off-chain and post compressed data via blobs for cent-level fees.

Dencun (EIP-4844) introduced blob space, slashing rollup data costs and improving L2 UX while capturing value for Ethereum as a data-availability layer.

For ETH investors: high gas → more burn → deflationary pressure; low gas + L2 migration → less mainnet burn, but settlement and security demand remain. Balance both dynamically.