Gas

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Gas in blockchain refers to the fee required to execute transactions and smart contracts on networks like Ethereum. It is measured in small units of the native cryptocurrency (such as gwei for Ethereum) and compensates miners or validators for the computational resources used. The cost of gas depends on network demand, with higher fees needed for faster processing and complex smart contract executions.

Gas fees ensure that the network remains secure and efficient by preventing spam transactions and prioritizing legitimate ones. Users can set gas limits and prices, influencing how quickly their transactions are confirmed. High gas costs can be a challenge during periods of congestion, but they also reflect the network’s economic incentives, balancing supply and demand for computational power.

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