What Is the Difference between “Gas Limit” and “Gas Price”?
The gas limit is the maximum amount of gas (computational units) a user is willing to spend on a transaction. The gas price is the cost per unit of gas, typically denominated in Gwei.
The total transaction fee is calculated as (Gas Limit) x (Gas Price). If the actual computation exceeds the limit, the transaction fails.
Glossar
Smart Contract Gas
Cost ⎊ Smart Contract Gas represents the fundamental computational cost required to execute any operation on the Ethereum Virtual Machine (EVM), serving as the internal pricing mechanism for transaction processing.
Gas
Transaction ⎊ The term "Gas" within cryptocurrency contexts fundamentally represents a unit of computational effort required to execute a transaction or smart contract on a blockchain, most notably Ethereum.
Gas Price
Mechanism ⎊ Gas price, within cryptocurrency networks, represents the computational effort required to execute a specific operation on the blockchain, directly influencing transaction costs and network congestion.