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Gas

What does Gas mean in crypto terms?

Gas in the context of the Ethereum network, refers to the unit that measures the amount of computational effort required to execute operations, such as making transactions, running dApps, or executing smart contracts. Gas is used to allocate resources of the Ethereum Virtual Machine (EVM) so that decentralization and incentivization are maintained. The gas fee, paid in Ether (ETH), compensates miners for the computing power and time expended to validate and add a transaction to the blockchain. Gas prices can fluctuate based on network demand, and users can set gas limits to control costs, although setting it too low may result in failed transactions.

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