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Priority Fee for Block
The priority fee, or tip, of the most recent block processed.
The most recent block we processed within a 1-minute window is evaluated and its Priority Fee, or tip, is captured. The concept of a Miner Tip was introduced as part of EIP-1559 and it represents the portion of the total transaction fees that rewards miners. This serves as an added incentive so that miners prioritize transactions that have opted-in and paid a tip. The other portion is called the Base Fee, and it is burnt (destroyed) after the transaction is included in a block.