Gas, Gas Limit, and Gas Price in Ethereum
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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.