Gas
Definition
GAS is the fee paid to carry out transactions on the Ethereum network and enables transactions to be processed on the network.
Gas, the unit of fee paid for processing transactions in the Ethereum network, is designed to fairly distribute transaction resources on the network among users. Gas fees may vary depending on the complexity of the transaction and the demand on the network. Gas prices may increase during periods of high demand and may decrease during periods of low demand. Gas also acts as an incentive mechanism for miners on the network to verify transactions and add them to blocks. Therefore, a sufficient amount of GAS must be paid for transactions to occur quickly and reliably.
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The JrKripto crypto glossary explains important terms and concepts so investors can understand the market better. Clear definitions support decision-making and risk management. Each entry has a short definition and, where useful, an extended explanation for quick reference or deeper reading.
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