What are gas and gwei in ETH transactions?

Gas is a unit that measures the computational effort that will be needed to perform various operations on the Etherum network. Miners receive a payment in ether that is equivalent to the total amount of gas it took them to complete the entire operation. Every transaction that takes place on the Ethereum network, whether it is a transaction, a smart contract or an ICO, requires a certain amount of gas. Gas is actually the driving force of the Ethereum ecosystem, it is a unit that measures the computational effort that will be needed to perform these operations. Each transaction requires a minimum of 21,000 gas. There is no fixed price for exchanging gas for ether, you have to determine the gas price yourself and how much you want to pay the miners for the transaction. The average gas price is usually around 20 Gwei (or 0.00000002 ETH), but it can increase during times of heavy network traffic as there are more transactions competing to be included in the next block and paying more gas to miners.

Gas is a small amount of ethereum paid to people who use their computers to record trades and perform other software activities.

Gas is calculated by multiplying a very small amount of ethereum, known as the price of gas or gwei, and multiplying that by the amount of gwei you want to spend - the so-called Gwei. gas limit. Since 1 ethereum = 1 billion (1,000,000,000) gwei, gas costs are usually very small, around a few dollars. If the amount of gas is not enough to complete the transaction, unfortunately the transaction will fail. On the other hand, you can pay a little more gas and expect the computers to do their job faster.

Gwei is a very small amount of Ethereum used to calculate transaction fees for sending Ethereum to another person. One ETH is worth 1 billion (1,000,000,000) gwei.