Gwei

By: WEEX|2024/10/26 07:46:31

Gwei is a denomination of Ether (ETH), the native cryptocurrency of the Ethereum network, and is used specifically for calculating gas fees. One Gwei is equal to 1 billion Wei, which is the smallest unit of Ether (similar to how cents are to dollars). Gas fees on the Ethereum network are usually expressed in Gwei to simplify the representation of smaller amounts of Ether. For instance, if the gas price for a transaction is 50 Gwei and the transaction requires 21,000 units of gas, the total fee would be 1.05 ETH. The cost of Gwei fluctuates depending on network congestion, as users compete to get their transactions processed faster by paying higher fees.

Hashrate Graphics Processing Unit (GPU)

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