Cryptocurrency Q&A
What is gas fee vs gas limit?
What is gas fee vs gas limit?
Martina
Tue Mar 11 2025
|
6
answers
1682
I'm trying to understand the difference between gas fee and gas limit in the context of cryptocurrency transactions. Could someone explain what each of these terms means and how they relate to each other?
6 answers
Valentina
Thu Mar 13 2025
It serves as a cap on the resources your transaction can consume on the blockchain network.
Was this helpful?
342
66
amelia_jackson_environmentalist
Thu Mar 13 2025
Gas Price, on the other hand, signifies the amount you are willing to pay for each unit of computational effort.
Was this helpful?
342
79
SsamziegangStroll
Thu Mar 13 2025
This fee helps in determining the priority of your transaction within the network.
Was this helpful?
138
68
ethan_thompson_psychologist
Thu Mar 13 2025
Higher gas prices generally result in faster transaction confirmations.
Was this helpful?
340
70
CryptoVisionary
Thu Mar 13 2025
Gas Limit represents the utmost quantity of computational power you are prepared to dedicate towards a transaction.
Was this helpful?
285
33
Load 5 more related questions
