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\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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ADVERTISEMENT
\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3175,"post_author":"1","post_date":"2022-01-15 23:59:41","post_date_gmt":"2022-01-15 12:59:41","post_content":"\n

A recent poll, surveyed by Ethereum co-founder Vitalik Buterin<\/a> found that from over 600,000 votes Cardano is the most preferred cryptocurrency as an alternative to Ethereum. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1481738461417672704\n<\/div><\/figure>\n\n\n\n

The original tweet was followed by a secondary poll where TRON was the favorite. The tweet had mixed reactions, mostly because everyone was shilling their own projects. Popular Dogecoin promoter Matt Wallace shared his opinion in a tweet<\/a> after the results were in \"The ironic thing is that Dogecoin actually is the future crypto of earth even though it is not even an option in this poll\"<\/p>\n\n\n\n

Others were more optimistic though, Justin Sun founder of TRON tweeted<\/a> that \"I hope It will be #TRON<\/a>, #Ethereum<\/a> and #BNB<\/a> all co-existing together in 2035! I believe a multi-chain future #BTT<\/a> is trying to build! Connecting #TRON<\/a>, #Ethereum<\/a> and #BSC<\/a>!\"<\/p>\n\n\n\n

<\/p>\n","post_title":"Cardano Voted The Most Preferred Ethereum Alternative, Beating Bitcoin And Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cardano-voted-the-most-preferred-ethereum-alternative-beating-bitcoin-and-solana","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:33","post_modified_gmt":"2023-04-30 11:40:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3175","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1508,"post_author":"1","post_date":"2021-10-27 20:19:57","post_date_gmt":"2021-10-27 09:19:57","post_content":"\n

Wei is the smallest denomination of Ether, or ETH, the cryptocurrency on the Ethereum network.<\/p>\n\n\n\n

Wei takes its name from Cypherpunk member Wei Dai who proposed the first real cryptocurrency called B-Money<\/a>, which is essentially a forerunner to Bitcoin, although it never passed the drafting phase. <\/p>\n\n\n\n

In turn, it can be compared to Bitcoin\u2019s 'Satoshi Unit' which represents 0.00000001 Bitcoin for similar reasons to Ether, to make a transaction fee more clear.<\/p>\n\n\n\n

Why Use Wei?<\/strong><\/h2>\n\n\n\n

As the price of Ether rises, the size of each transfer gets smaller. 1 ETH now may only be equal to 0.8 ETH in a few months. <\/p>\n\n\n\n

But using Ether to quote a gas fee<\/a> may become a headache as prices go up because it will become a smaller fraction of Ether. Therefore, Wei is used when dealing with smaller transactions playing an important part in gas fees and transaction fees.<\/p>\n\n\n\n

As shown on Ethereum's Technical Documents<\/a>, these are the several sub-units, indicating the quantity used.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n","post_title":"Wei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"wei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gas-fees\/","post_modified":"2022-06-02 22:21:00","post_modified_gmt":"2022-06-02 12:21:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1508","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1505,"post_author":"1","post_date":"2021-10-27 20:15:38","post_date_gmt":"2021-10-27 09:15:38","post_content":"\n

What Is Gwei?<\/strong><\/h2>\n\n\n\n

Gwei or gigaWei is the most commonly used denomination of Ether's Wei<\/a>. It's comparable to Ether like a cent is to a dollar because gas prices are easily specified with Gwei. <\/p>\n\n\n\n

1 Gwei is equal to 0.000000001 ETH, and usually, its easier to quote gas prices<\/a> with 87 Gwei compared to like 0.00000087 ETH.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Denominations Of Ether<\/h2>\n\n\n\n

Along with Gwei, there are other base units on the Ethereum network. These were named after people whose work heavily influenced the infrastructure of the Ethereum Blockchain. As shown on Ethereum's Technical Documents<\/a>, these are the several denominations of Wei.<\/p>\n\n\n\n

Unit<\/th>Wei Value<\/th>Wei<\/th><\/tr><\/thead>
Wei<\/td>1 Wei<\/td>1<\/td><\/tr>
Kwei (babbage<\/a>)<\/td>1e3 Wei<\/td>1,000<\/td><\/tr>
Mwei (lovelace<\/a>)<\/td>1e6 Wei<\/td>1,000,000<\/td><\/tr>
Gwei (shannon<\/a>)<\/td>1e9 Wei<\/td>1,000,000,000<\/td><\/tr>
Microether (szabo<\/a>)<\/td>1e12 Wei<\/td>1,000,000,000,000<\/td><\/tr>
Milliether (finney<\/a>)<\/td>1e15 Wei<\/td>1,000,000,000,000,000<\/td><\/tr>
Ether<\/td>1e18 Wei<\/td>1,000,000,000,000,000,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n


Although gas fees aren\u2019t the most spectacular part of Ethereum, they\u2019re vital to keeping the ecosystem running and scalable!<\/p>\n","post_title":"Gwei Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gwei","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/wei\/","post_modified":"2022-06-02 22:20:48","post_modified_gmt":"2022-06-02 12:20:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1505","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1497,"post_author":"1","post_date":"2021-10-26 21:05:36","post_date_gmt":"2021-10-26 10:05:36","post_content":"\n

What Are Gas Fees?<\/h2>\n\n\n\n

Gas fees are the cost that is required to attempt a transaction. This is decided based on the computational energy needed to confirm a transaction.<\/p>\n\n\n\n

These transactions take time, energy, and computational effort, which doesn't come for free. The fees are decided upon the supply and demand of the blockchain at the time of the transaction, through the blockchain's protocol<\/a>. Gas pays the miners<\/a> for the energy spent validating the transactions, while also preventing spam and infinite loops<\/a>.<\/p>\n\n\n\n

Gas fees are required for almost every action that takes part on a blockchain, the more complex the action, the higher the associated fee.<\/p>\n\n\n\n

How Do Gas Fees Work?<\/h2>\n\n\n\n

The Ethereum network can only compute 13 transactions per second, because of this miners pace the stream of requests coming through and choose the transactions that'll give them the best returns. Portions of Ether called Gwei <\/a>are linked to each transaction, called the \u201cGas Price\u201d. It is like a bribe that pushes you to the front of the transactions waiting to be confirmed. The higher the bribe, the faster your transaction is confirmed.<\/p>\n\n\n\n

Your \u201cGas Limit\u201d is the greatest amount of Ether you\u2019d send as GWEI, the lower your gas limit, the further back you are in the line of transactions. Miners will always choose what is best for them. The gas you pay depends on how much you use. If you denote 50,000 GWEI, but the miner only used 30,000 worth of GWEI, you\u2019ll get back the difference of 20,000.<\/p>\n\n\n\n

Ethereum gas fees work in equilibrium with the price of Ether. As stated above, miners set the price of gas based on the current demand. As Ether prices rise so do the fees and as it drops, so does gas.<\/p>\n\n\n\n

How To Lower Your Gas Fees<\/h2>\n\n\n\n

You could potentially lower the fees using a tool like Etherscan<\/a>'s Gas Tracker<\/a> or BscScan's Gas Tracker<\/a> before sending any cryptocurrency. This shows how busy the blockchain is at any time, the less busy it is, the fewer gas fees you\u2019ll pay. So if you're not in a rush, it pays to wait until demand is lower.<\/p>\n\n\n\n

How To Calculate Gas Fees<\/h2>\n\n\n\n

One GWEI is equal to 0.000000001 ETH or one-billionth Ether. GWEI is the cent to Ethers dollar.<\/p>\n\n\n\n

The standard gas limit is 21,000 GWEI. So you multiply the average price of gas by 21,000 and you\u2019ll get your estimated gas<\/a> fee price. Then convert<\/a> that into Ether and that\u2019s that.<\/p>\n\n\n\n

(Complexity In Gas) x (Gas Price In Gwei) = Transaction cost<\/p><\/blockquote><\/figure>\n\n\n\n

<\/p>\n","post_title":"Gas Fee","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"gas-fee","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/infinite-loop\/","post_modified":"2022-07-21 22:14:51","post_modified_gmt":"2022-07-21 12:14:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1497","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1501,"post_author":"1","post_date":"2021-10-26 20:54:12","post_date_gmt":"2021-10-26 09:54:12","post_content":"\n

What Is An Infinite Loop?<\/strong><\/h2>\n\n\n\n

An infinite loop is a sequence in a computer program looping continuously without stopping. Infinite loops are usually a bug and stop when a server is shut down to fix the bug, rewrite the code attached to the bug, and then redeploy the program.<\/p>\n\n\n\n

This wouldn\u2019t work on a decentralized and distributed blockchain network. It would be difficult to stop all the nodes around the world. Even if you were, with increasing transactions per second, this would cause thousands of transactions to build up. Even if it were for a minute.<\/p>\n\n\n\n

Ethereum Gas And Infinite Loops<\/strong><\/h2>\n\n\n\n

To stop this issue, Ethereum introduced Gas. Like a car that stops when it runs out of gas, if a transaction runs out of gas it\u2019s stopped.<\/p>\n\n\n\n

Before sending a transaction you set a gas limit you\u2019d be willing to pay. If a transaction or smart contract gets stuck in a loop and runs out of \u2018gas\u2019 it reverts the computation and sends it back to you, without the gas you lost, unfortunately.<\/p>\n\n\n\n

Gas also prevents spamming and DDoS attacks. Paying the gas fee for thousands of bots to flood a system would cost an attacker too much to be worth it. Making a blockchain system even more secure for its users.<\/p>\n","post_title":"How Does Blockchain Fix An Infinite Loop?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"infinite-loop","to_ping":"","pinged":"","post_modified":"2022-02-21 18:35:07","post_modified_gmt":"2022-02-21 07:35:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1501","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Ethereum

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