42 min listen
72. What are Gas fees, and What is GWEI?
72. What are Gas fees, and What is GWEI?
ratings:
Length:
38 minutes
Released:
Jan 22, 2022
Format:
Podcast episode
Description
In this episode, we talk a little bit about the state of ETH NFTs, the current roller coaster of crypto, and how we need to rethink or rename "gas fees" to better understand and embrace the fees that aren't going anywhere anytime soon. We talk: Ethereum Is a first-mover advantage blockchains aka much like “Front running stocks Gas is how the miners (Computers solving the problems) get paid Gas units are the tasks within a smart contract The more gas you pay the higher priority you are given… Gas order helps prevent the network from becoming overrun Most contracts build in suggested gas to keep most actions in order of which the actions are taken. Gas can fluctuate based on the type of contract, how clean the code is and time of day/ traffic on the network. Too low gas the transaction will fall off the bottom of the list and it will fail and you will lose part of your gas In some cases, the gas you are actually charged will be less than the suggestion because the task completes prior to needing to use that amount of gas. Gas pays for it to keep running and the reason it's a separate charge is so it doesn’t drastically impact the price of Etherum Gwei means “Giga-wei” 1 GWEI equals .0000000001Instead of using that we use total GWEI 1 billion Gwei. = 1 ETH Websites Mentioned: https://icy.tools/collections/trending https://ethgasstation.info/ https://txstreet.com/v/eth Projects mentioned: Inbetweeners Womens Tribe Women and Weapons CryptoChicks World of Women AlphaWomenClub Podcast is SuperPOWERED by http://ADHDcoin.com
Released:
Jan 22, 2022
Format:
Podcast episode
Titles in the series (100)
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