What is your opinion/understanding of Gas!!?
coming from a software development background, you might definitely wonder why Gas is needed, it possibly sounds ridiculous to pay for almost every transaction to be added to the Ethereum blockchain.
Imagine if every function that creates a record into the database or just prints into the terminal/console had to be paid for, crazy, right?
Gas is simply a fee taken by miners to add a transaction to the blockchain.
To explain the term mining in Blockchain technology,
It is simply a puzzle or an algorithm that miners/computers perform and have to pass before a block is verified to be added/appended into the blockchain.
And from this, you basically tell that the miners will prefer to mine the transactions with higher Gas prices first.
A more detailed definition of Gas "Gas refers to the fee, or pricing value, required to successfully conduct a transaction or execute a contract on the Ethereum blockchain platform."
Top comments (0)