What is gas? Gas is a transaction fee paid by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. There are two main components: Gas Price and Gas Limit. Gas Price – The price per unit of gas is denoted in small fractions of the cryptocurrency Ethereum, called GWEI. GWEI is equivalent to ETH in the way that a penny is equivalent to the dollar; it is the smallest denomination of the currency. Gas Limit – Gas limit refers to the maximum…
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