Gwei

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Gwei is a denomination of Ether (ETH) used to measure gas fees in the Ethereum network. It represents a fractional unit of ETH, where 1 gwei equals 0.000000001 ETH (or 1 billion wei). Since transaction and smart contract execution costs on Ethereum are calculated in gas, and gas prices fluctuate based on network demand, gwei serves as a practical unit for expressing these fees efficiently. Wallets and blockchain explorers typically display gas prices in gwei, making it easier for users to understand and adjust their transaction costs.

Understanding what gwei is is essential for estimating transaction costs on Ethereum. When sending ETH or interacting with smart contracts, users specify the gas price in gwei, determining how much they are willing to pay per unit of gas. Higher gwei values speed up transaction processing, while lower values may result in delays or failure during times of high network congestion. Gas fee estimators and Ethereum wallets often provide suggested gwei values based on real-time network activity, helping users optimize costs while ensuring timely transactions

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