Gas wars refer to the competition among users to secure transaction processing on blockchains by bidding higher fees. When the network experiences high demand, users increase their gas fees to prioritize their transactions.In these scenarios, individuals or entities might submit increasingly higher fees to ensure their transactions are confirmed quickly. This creates a bidding war, where the highest bidder gets their transaction processed first.Gas wars often occur during significant events, like NFT drops or token launches, when many users simultaneously attempt to execute trades or transfers. The result can lead to exorbitant fees, making transactions expensive and potentially discouraging participation.Overall, gas wars highlight the challenges of scaling and managing network congestion on blockchains, prompting ongoing discussions about improving transaction efficiency and reducing costs for users.

UK’s FCA to Allow Retail Investors Limited Access to Crypto ETNs
The UK’s Financial Conduct Authority (FCA) will permit retail investors to access certain crypto asset-backed exchange-traded notes (cETNs) for the