What is "GAS" or blockchain fees in the Ethereum ecosystem.

1. Introduction.

"Gas" is a unit of measurement that indicates the amount of computational effort required to perform specific operations on the Ethereum blockchain ecosystem . Since every transaction in Ethereum requires computing resources to execute, it is logical that this same technological operation requires a fee. Therefore, the term “Gas” refers to the fee required to successfully complete an Ethereum transaction.

Gas fees are paid in Ethereum's native currency, Ether (ETH) . The prices of "Gas" fees are denoted in "gwei" , which itself is a denomination of ETH - each "gwei" is equal to 0.000000001 ETH (10-9 ETH). For example, instead of saying that a "Gas" fee costs you 0.000000001 ether, you can say that "Gas" fees cost you 1 gwei. The word "gwei" itself means "giga-wei" and is equal to 1,000,000,000 "gwei". The "gwei" itself (named after Wei Dai, the creator of b-money) is the smallest unit of ETH .