What Is a “Gas Limit” and Why Is It Important for Contract Execution?
The gas limit is the maximum amount of gas a user is willing to spend on a transaction. It is a safety mechanism to prevent infinite loops or excessively complex smart contract execution from draining a user's funds.
If the transaction requires more gas than the specified limit, the transaction fails, but the user still pays for the computational work done up to that point.
Glossar
Gas Limit
Constraint ⎊ Gas Limit, within cryptocurrency networks, represents the maximum computational effort a transaction or smart contract execution may require; it’s a crucial mechanism for preventing denial-of-service attacks and ensuring network stability by limiting resource consumption.
Smart Contract Execution
Automation ⎊ The core mechanism involves the self-executing nature of code deployed on a blockchain, automatically enforcing the terms of a contract, such as options settlement or collateral liquidation, without human intervention.
Gas Limit Impact
Constraint ⎊ Gas Limit Impact, within cryptocurrency and derivatives, represents the maximum computational effort a transaction or smart contract execution can consume on a blockchain network.