What is Gas limit means and what Gwei.

[cryptolab]

Feel free to answer, this is to benefit those newbies in Ethereum network. Thanks in advance.

[Kenak]

I really need to know this too because am yet to have bette understanding on this gas of a thing

[admin]

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.

[tobatz23]

In short, it was a transaction fee weather you transfer/ buy or sell your tokens/ coins in your wallet.

[soljal543]

Thanks for this thread, it is very helpful

[Dilerium90]

I alwase use small gas, for example from 2 to 10

[diezorocket]

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

[Kenak]

Gas limit is a fee you have to pay for every transaction you perform on Ethereum blockchain.
Set low gas limit for lower transaction fee.

[dikipermana]

nice question and finally i found the answer here. so far i just set gwei as small as possible and gas limit to 21k without knowing what for it is. lol

[FLASH1K]

nice question and finally i found the answer here. so far i just set gwei as small as possible and gas limit to 21k without knowing what for it is. lol

Right decision, but it's better to set much more bigger gas limit when u sending tokens.

[1kings]

Gas limit is a fee you have to pay for every transaction you perform on Ethereum blockchain.
Set low gas limit for lower transaction fee.

The transaction would take longer time to execute with low gas limits.

[sabbir2world]

Gwei is Gas Price = how fast you want your transaction to be done.
GAS limit is required to send tokens according to their respective smart contracts.

[Hermes Mercury]

A different view:
In exchange we pay a mark generated by them (exchange policy)
With bitcoins we pay fee.
With ethereum tokens, each token has a contract and a stipulated fee. making it as original as possible.

[ridertiger]

Some tokens say oh make it 1 gwei so it is cheap, but if I set the gas to something less than the suggested gas, which costs about 0.40, it says it is out of gas. Any help on that?

[obizcoin.ico]

Gwei is just a smaller denomination of Ether, at 1X10-9 ETH. A wei is the smallest unit of Ethereum you can have, at 1x10-18 ETH.
Ether is used to purchase Gas, which is required to run smart contracts and submit transactions to Ethereum. Gas is the primary method through which miners processing smart contracts get paid.
Each instruction sent to the Ethereum Virtual Machine to process a transaction or smart contract costs a specific amount of Gas. If the required amount of Gas is not provided to the transaction, it will fail before completion.