Gas, Gas Limit, and Gas Price in Ethereum

Published 05 October 2021
Gas, Gas Limit, and Gas Price in Ethereum


ETH is the internal cryptocurrency of the Ethereum network, which can be divided into several units: Finney, Szabo, Gwei, Mwei, Kwei, and Wei.

Every transaction is charged with fees that go directly to the miners.

☑️ Gas is a unit of calculation that indicates the amount of the transaction fees.

☑️ Gas Limit is the maximum amount of Gas that a user is ready to pay for the transaction (a minimum of 21,000).

☑️ Gas Price is the amount of Gwai that a user can spend on each unit of Gas.

The amount of the Gas Price determines the priority of the transaction, as well as the amount of the fees.

WhiteBIT Team