Gas Price
| The gas price is a price that has to be paid for transaction validation. This fee is paid to the miners who validate transactions and add them to the blockchain. The gas price is a way to ensure that miners are compensated for their work and to incentivize them to keep verifying transactions. The gas price is set by the sender of a transaction and is included in the transaction fee. The gas price is usually denominated in Gwei, which is a fraction of a ETH. The gas price can be set to any amount, but it is usually set at a low amount so that transactions can be processed quickly. |
Share this glosssary
