Gwei
Gwei is the smallest unit of Ether (ETH), used to measure gas prices on the Ethereum network.
Gwei is the smallest unit of Ether (ETH), used to measure gas prices on the Ethereum network.
Gwei is the smallest unit of Ether (ETH), the native cryptocurrency of the Ethereum network. It is used to measure the cost of gas, which is the fee required for conducting transactions or executing smart contracts on Ethereum. Gas prices are commonly denoted in Gwei. 1 Ether is equivalent to 1,000,000,000 (one billion) Gwei. This unit allows for more precise calculations of transaction fees.
Fees on the Ethereum network often calculated in Gwei. For example, if a user wants to perform a transaction on the Ethereum network, they might set a gas price of 20 Gwei. The total cost in Ether will then depend on the amount of gas required for the transaction.
