What Is a “Gas Limit” in the Context of Transaction Fees on a Network like Ethereum?

The gas limit is the maximum amount of computational effort, measured in "gas," that a user is willing to spend on a transaction. Each operation on the Ethereum Virtual Machine (EVM) costs a certain amount of gas.

The total transaction fee is calculated as (Gas Used) x (Gas Price). The gas limit prevents runaway computations and defines the maximum potential cost, ensuring the transaction doesn't consume excessive network resources.