Ether and Gas
Gas and Gas Limit
Beginner Level
Gas is the unit that measures the computational effort required to execute transactions or smart contracts on the Ethereum network.
- Gas: Unit that measures computational effort required to execute transactions or smart contracts.
- Gas limit: Maximum gas a sender is willing to spend for a transaction.
- Gas price: Amount of Ether per unit of gas (gwei).
Transaction fee:
Transaction Fee = Gas Used × Gas Price
Key points:
- Complex computations or storage writes consume more gas.
- Running out of gas reverts the transaction, but gas spent is not refunded.
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