How Does “Gas” Relate to the Fee Market on Ethereum?

Gas is a unit that measures the computational effort required to execute operations on the Ethereum network. The fee a user pays is calculated by multiplying the Gas limit (max units allowed) by the Gas price (cost per unit).

The fee market determines the prevailing Gas price, which fluctuates based on network demand and the EIP-1559 mechanism, where a base fee is burned and a priority fee (tip) goes to the validator.