A fee market refers to the system in which transaction fees are determined by supply and demand among users of a blockchain network. When many users want to send transactions at the same time, they may compete by offering higher fees to incentivize miners to process their transactions first.In this setup, users submit their transactions along with a fee they are willing to pay. Miners prioritize transactions with higher fees, leading to a market where users adjust their fees based on how quickly they want their transactions confirmed. During periods of high network congestion, fees can rise significantly, as users bid against each other for limited block space. Conversely, during quieter times, fees may decrease as the demand for transaction processing drops. This dynamic influences user behavior, as individuals may choose to wait for lower fees or offer higher fees to ensure prompt processing. Understanding the fee market helps users make informed decisions about when to transact on the blockchain.