Gwei
Definition
Gwei is a unit of measurement used to measure transaction fees on the Ethereum network.
One Gwei is equal to one billionth of an Ether, and fees paid for transactions on the Ethereum network are usually denominated in Gwei. Gwei is the unit used to measure fees for transactions made on the Ethereum network. Ethereum s base transaction fee is usually expressed in Gwei, and its price may change from time to time due to Ethereum s scalability issues. For example, a higher Gwei fee may be paid to increase the speed of a transaction, thus allowing the transaction to be processed faster. Gwei is an important concept for determining the cost of transactions on the Ethereum network and improving the performance of the network.
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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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