Transaction

A transaction is a process of giving and taking something in return for a valuable asset. The transactions can be in the form of assets themselves, items, data, or money. The meaning of transactions and their complexity varies in different fields of work.

To put it simply in terms of FORSAGE, when you send funds from your wallet to any type of address, the process of sending or transferring is called a Transaction.

When you make a transaction in any of the networks / blockchains (ETH, TRX, or BSC-BUSD), it requires paying the transaction fee for the transaction to be approved, which can be variable. Its amount depends on the current network load and the volume of overall transactions in the network pool. This transaction fee is called ‘gas fee’ in ETH and BSC networks, whereas ‘network fee/energy’ is in the TRX network.

Here is the approximate amount required to cover network fees during registration:

• For the Ethereum network, the gas fee = 0.05 ETH, monitor (ethgasstation.info) to know about the current gas fee.

• For Tron network =100 TRX.

• For BSC network = 0.01 BNB (4$ BNB).

Note: The above-mentioned fees are estimated average fees which involve multiple transaction steps (in the BUSD platform) and dealing with smart contracts. The normal wallet-to-wallet transaction requires lesser fees as compared to a smart contract.