What is Gas limit means and what Gwei.

[ridertiger]

Yeah, some people report that they even use 0.5 Gwei for transactions and it works. Weird.

[dmcuibap]

Transaction fees. Higher fees better speed(1-2mins)

[Seal10]

after all this time I am still not sure how it all works

The amount of gas u use determine how fast your transaction will be carried out. Sometimes u will initiate a sell order consecutively with another person, the person with the highest gas makes the sale and u don't and still pay the gas price. This often happens when a coin is pumping and many people want to sell at the same time..

[adiwibowo]

I have not understood that

[Munareal]

Gwei - Gwei is the price of one unit of gas is decided by the miners, currently it is around 5 to 21 GWei (One GWei is 10^9 Wei or 10^-9 Ether).
Gas limit - The gas limit is  is 21,000 but could be higher  . It depends on the number of codes needed to execute your transaction.

They are used to pay transaction fees in ethereum

Ether Ttransaction  Fees = Gas Limit * Gas Price

Gas Price- This is the other variable in ether transaction fee measured in gwei. It determine how fast your transaction will be pick by miners to complete.The higher you pay the  faster your transaction is completed

[long8899]

it is very confusing looking up to down. I understand gwei means, but still not understand what gas limit means, it means a requirement that must be satisfied?

[Libet]

I want to do a question on gas fee.
When you want to do a transaction on an exchange the fee will be different?

[Tornado]

A quick answer, hope someone will give a better one.

Gas limit: Amount of fuel is required to execute that operation or run that particular smart contract code.

Gwei: Gas Price: how fast you want your transaction to be done.

This is a perfect answer to the question

[surewealth]

Ether=Tx fee=Gas Limit * Gas Price
i.e. Gas Limit= Tx fee/Gas Price

Gas Limit is liking to the amount of liters/gallons/units of gas for a car that required to drive a car from point A to point B. You can think of the gas price as the cost of that liter/gallon/unit of gas i.e. the amount you will pay for that quantity.

With a car, it's $2.50 (price) per gallon (unit).
With Ethereum, it's 20 GWEI (price) per gas (unit).
To fill up your "tank", it takes...

10 gallons at $2.50 = $25
21000 units of gas at 20 GWEI = 0.00042 ETH.
Therefore, the total TX fee will be 0.00042 Ether.

Sending tokens will typically take ~50000 gas to ~100000 gas, so the total TX fee increases to 0.001 ETH - 0.002 ETH

[rahul10948]

its just way to calculate the transaction fees on etherium network

[Tornado]

Ethereum gas is gradually going down....

[aliefta]

it's the transaction fees. funny how it goes up and up right now.

[RDataPos]

Are there any good leads on researching sites pertaining to Alt coins and there parent company's.. I have found verified info on a lot of coins and there backgrounds, has anyone done much research on CDT? It's Pairing with WINGS seems promising with the ease of use aspect on market place for new users.  Anyone?

[slybarte]

the higher the gas the faster transaction!!

[harry_kush]

gwei = gas price.
max gas - the maximum that you want to commit to give to the processing node for the transaction. Too less and transaction fails. You set too high and only the used gas is comsumed, you dont lose the rest.