Computing is required for all types of work on the Ethereum network. The unit of computational work needed for any function is called gas.
Gas Fees:
Gas fees are the charges vital to performing transactions, taking part in smart contracts, or launching Dapps on the Ethereum network. These fees are paid in ETH, the native token of Ethereum.
An Ethereum user exchanges gas fees for a share of the network’s computational power. The size of the fee differs depending on the amount of computational power required for the requested action on the Ethereum Virtual Machine or EVM.
Gas fees also deter network spamming by adding an economic cost to each significant action taken.
The gas limit is known as the maximum amount of computational power a user is willing to spend on a transaction or execution of a smart contract. It prevents excessive use of network resources by setting a cap on the work that can be done. Users set this limit to manage costs, as each operation requires a certain amount of gas, with the price determined by network demand.
