Gas and Fees

M Hash Layer2 is a chain scaling solution built on top of the MAGNE Layer 1 blockchain, designed to deliver high throughput and low-cost transactions for DeFi, NFTs, gaming, and other high-demand applications.

The cost of an M Hash Layer2 transaction consists of two components:

  • Layer 2 gas fee – reflects the computational complexity of processing the transaction on M Hash L2
  • Layer 1 gas fee – covers the cost of submitting batched transactions to the MAGNE mainnet for verification and finality

Gas price formula: Gas price = base price + priority price

Transaction cost formula: L2 transaction cost = (L2 gas price × L2 gas consumed) + (L1 gas price × L1 gas consumed)

Current Configuration

NetworkFloor Base PriceMinimum Priority Price
M Hash L2 Testnet0 gwei1 gwei
M Hash L2 Mainnet
MAGNE L1 Testnet0 gwei0.1 gwei
MAGNE L1 Mainnet

What This Means

The floor base price is the minimum base gas price that M Hash can set. This value can change dynamically depending on network usage. For example, with the current configuration, if a block’s usage reaches 50% of the 100M gas limit, the base price will rise by 12.5%.

The minimum priority price is preset. Users can choose any priority fee higher than this minimum. Typically, wallets and dApps retrieve the recommended gas price by calling the “estimate gas price” API, which calculates it based on the average gas price from recent blocks.

M Hash’s goal is to keep basic transfer transactions under $0.001, enabling mass adoption and supporting high-frequency, low-value use cases.

How M Hash Layer2 Keeps Costs Low

  • Enhanced Data Compression – Apply advanced compression algorithms to minimize L2 transaction data before submitting to L1
  • Efficient Transaction Batching – Optimize batching to maximize block space usage and reduce per-transaction costs
  • Data Availability Solutions – Leverage MAGNE’s data availability infrastructure to offload some storage from L1, lowering costs
  • Zero-Knowledge Proofs – Validate transactions without exposing full transaction data, reducing L1 data load
  • Protocol-Level Optimizations – Improve protocol execution and networking to lower computational overhead on L2