[Submission] Gas and Fees by Cynthia

Gas_and_Fees_Cynthia.adoc

@@ -0,0 +1,16 @@
+# Assignment: Gas and Fees
+
+## Objective:
+
+1. Explain your understanding of Gas and Fees in Ethereum, including how EIP-1559 changed the fee structure.
+2. Define slippage in the context of gas calculations.
+3. Follow the submission steps below.
+
+## Answers:
+
+1. Gas is the unit used to measure how much computational effort it takes to perform an action on the blockchain. Gas is like fuel for doing anything on Ethereum. Fees are the cost in ETH you pay to the network for using its resources like a toll or service charge. 
+2. EIP 1559 changed the fee structure Priority fee which encourages faster transaction inclusion, an optional tip to incentivize validators. 
+3. Slippage is the difference between expected gas cost and the actual gas cost you end up paying when your transaction is confirmed. slippage protects you from large loss due to price movement.
+
+## X post link
+https://x.com/CIgeh/status/1941831557729153525 

README.md

@@ -1,66 +1,2 @@
-
-
-### **Assignment: Gas and Fees + [Your Name]**  
-
-#### **Objective:**  
-1. Explain your understanding of **Gas and Fees** in Ethereum, including how **EIP-1559** changed the fee structure.  
-2. Define **slippage** in the context of gas calculations.  
-3. Follow the submission steps below.  
-
----
-
-#### **Tasks:**  
-
-1. **Fork the Repository**  
-   - Fork [ogazboiz/MGS](https://github.com/ogazboiz/MGS) to your GitHub account.  
-
-2. **Create Your File**  
-   - In your forked repo, create a file named:  
-     ```  
-     Gas_and_Fees_YourName.adoc  
-     ```  
-     (Replace `YourName` with your actual name, e.g., `Gas_and_Fees_Alex.adoc`.)  
-
-3. **Write Your Explanation**  
-   - In the file, answer:  
-     - **What is Gas?** Describe its purpose in Ethereum transactions.  
-     - **EIP-1559:** Explain how it reformed gas fees (base fee, priority fee, burning mechanism).  
-     - **Slippage:** Define it and how it relates to gas prices (e.g., in swaps or high-demand blocks).  
-
-4. **Submit a Pull Request (PR)**  
-   - Push your file to your forked repo.  
-   - Open a PR to the original `ogazboiz/MGS` repo with the title:  
-     ```  
-     [Submission] Gas and Fees by YourName  
-     ```  
-   - Include a brief description of your changes.  
-
----
-
-#### **Example Submission Format (Markdown):**  
-```markdown
-# Gas and Fees by Alex  
-
-## What is Gas?  
-Gas is the unit measuring computational work on Ethereum. It prevents spam by requiring fees for transactions...  
-
-## EIP-1559 Changes  
-- Introduced a **base fee** (burned) and **priority fee** (tip to validators).  
-- Dynamic pricing adjusts fees based on block congestion...  
-
-## Slippage  
-Slippage occurs when the gas price changes before a transaction is mined, causing higher costs...  
-```
-
----
-
-#### **Deadline:**  
-Submit your PR by **[Due Date]**.  
-
-#### **Grading Criteria:**  
-- Clarity and accuracy of explanations.  
-- Proper file naming and PR formatting.  
-- Originality (no plagiarism).  
-
-**Tip:** Use diagrams or code snippets (e.g., gas calculations) to enhance your submission!  
-
+Gas is the unit used to measure how much computational effort it takes to perform an action on the blockchain. Gas is like fuel for doing anything on Ethereum. Fees are the cost in ETH you pay to the network for using its resources like a toll or service charge. EIP 1559 changed the fee structure Priority fee which encourages faster transaction inclusion, an optional tip to incentivize validators.
+Slippage is the difference between expected gas cost and the actual gas cost you end up paying when your transaction is confirmed. slippage protects you from large loss due to price movement.