What is ETH GAS?

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What is ETH GAS?

Post by Aviator » Thu Aug 30, 2018 12:59 am

‘Gas’ is a shorthand used to describe the cost of powering a transaction or contract in Ethereum, which is the blockchain network that CryptoKitties is built on.

Because blockchain is decentralized, every transaction is distributed through multiple computers, not a central server. This ensures each token — in this case, each CryptoKitty — is secure and one-of-a-kind. It also takes a lot of computational power, which is covered by the cost of gas.

‘Gas’ is composed of two parts: Gas Price and Gas Limit. Gas Price is what you offer to pay the miners (in a tiny measurement of ether called “gwei”) for each operation to execute the smart contract. Gas Limit is how many operations you let them to do before they run out of gas and drop the transaction.

1 gwei = 1/1,000,000,000th of an ether.
You can get more information here https://kb.myetherwallet.com/gas/what-i ... ereum.html
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