Gwei is a unit of the cryptocurrency Ether (ETH), used to purchase products and services on the Ethereum network. It refers explicitly to 1,000,000,000 Wei, the smallest ETH denomination that is now supported (just as cents are to dollars or satoshi is to Bitcoin). Literally, a gigawei is a gwei.
Because it refers to gas on the Ethereum network, gwei is the most widely used Ether denomination. Gas fees, which represent the amount someone is prepared to pay for a transaction or smart contract function to be carried out on the Ethereum network, are displayed in Gwei. Since the gas fees are so small, it would be confusing to refer to them in ETH because of the large number of decimal places.
A Gwei is equal to 1,000,000,000 ETH. The opposite way around, one Gwei is equivalent to 0.000000001 ETH. Therefore, it may also be known as a nano Ether when used in this manner. This is due to the fact that it is one nano of an ether.
