Max Priority Fee
Definition: The Max Priority Fee is the maximum amount a user is willing to pay as a priority fee (tip) to miners or validators. It represents the user's willingness to pay extra to expedite their transaction. When the transaction is included in a block, any difference between the max priority fee and the actual priority fee is refunded to the user.
Category: Blockchain Network
Example: In a high-demand period, setting a higher max priority fee can increase the chances of a transaction being included in the next block. If the actual priority fee ends up being lower, the user will receive a refund of the difference.
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