Cryptocurrency Q&A
What is GWEI in gas fees?
What is GWEI in gas fees?
DigitalDynastyQueen
Sun Dec 29 2024
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6
answers
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I'm trying to understand cryptocurrency transactions and I came across the term GWEI in relation to gas fees. I want to know what GWEI stands for and how it relates to gas fees.
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6 answers
Carlo
Tue Dec 31 2024
The concept of wei was initially introduced on the Ethereum network.
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KatanaSwordsmanship
Tue Dec 31 2024
Gwei serves as the unit of value for denoting the price of gas.
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KatanaBlade
Tue Dec 31 2024
It was established as a minute unit of value, with one wei being equivalent to 10-18 ether (ETH).
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Riccardo
Tue Dec 31 2024
This fractional denomination allows for precise calculations and transactions within the Ethereum blockchain.
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BlockchainBrawler
Tue Dec 31 2024
It is an abbreviation for gigawei, representing a significant figure in the Ethereum ecosystem.
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