web3explained.eth @web3explained
Web3 moves power and profits from big tech into the hands of you, the people. We help you understand Web3. Send questions to [email protected] metaverse Joined December 2021-
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@elonmusk Web3 moves the power and profits from big tech into the hands of the people.
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5/ So think of it as price per gallon (liter) * size of gas tank = cost to get something form A to B. We’ll discuss ‘priority fee’ next time!
4/ This is combined with ‘gas limit’ which is the maximum amount of gas you are willing to use up. Node operators are in the business to make money, and thus will verify the highest paying transactions first.
1/ Gas refers to the fee required to successfully conduct a transaction or execute a contract on the Ethereum blockchain platform. Gas is priced in the chains native ‘gas’ coin. For instance on Ethereum that is ‘ETH’.
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