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What is Gas in the Ethereum Blockchain?

 

ethereum gas

The term Gas on the Ethereum blockchain often sounds foreign even to MetaMask and MyEtherWallet wallet users. So what exactly is meant by Ethereum Gas?

For beginners who are still unfamiliar and confused about Ethereum Gas, they might be surprised by the large rate of Gas. 

This large rate can be seen when you want to make a withdrawal from one of the wallets on the crypto exchange. The application of high transaction fees is usually caused by the very low price of the token.

Then why should there be Gas in every Ethereum token transaction? The following is a brief explanation of what is meant by Gas in the Ethereum blockchain system.

Just as Bitcoin miners prioritize transactions with the highest mining fees, miners on the Ethereum block are also free to ignore transactions whose Gas price limit is too low.

What is Gas?

Gas is the internal rate for carrying out a transaction or contract in Ethereum. At the time the article was written prior to the launch of the Frontier, the rate was set at 10 Szabos which is worth about 1 / 100,000 ether. 

This serves to separate the Ether (ETH) unit and its market value from the unit to measure computational (gas) usage.

Therefore, a miner can decide to increase or decrease the use of gas according to their needs. When needed, the gas tariff can be increased or decreased to avoid a situation where the ETH price increases, which may cause the need to change all gas prices. 

This implementation can also help in terms of storage, as the Ethereum blockchain users increase over time. Currently, there are around 34132 ERC20 tokens in the ethereum block.

The application of the Gas system is almost the same as the use of electricity Kwh. However, in Ethereum, which initiates a transaction that determines the price of gas, which miners can then choose to accept or not, this is what causes changes in the Gas market. In ethereum there is a block size limit too - so you pay for the next block just like Bitcoin.

Gas price per transaction or per contract has been set to handle the Turing Complete nature of Ethereum and EVM (Ethereum Virtual Machine Code) to limit the infinite loop. 

If there is 10 Szabo or 0.00001 ETH or 1 Gas, this value can execute as many lines of code as desired. However, if it is not enough to transact it will be considered invalid.

The actual use of Gas tariffs to overcome Denial of Service attacks from an infinite loop. Thus making the attacker have to pay for the resources used. Including bandwidth to CPU calculations, to storage. So, the more complex the order you want to carry out, the more gas you have to pay.

Yulina Firmansyah
Yulina Firmansyah Hi, I am a wife who really loves crypto and blockchain technology, I am a writer for this blog.

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