Gas fee and Gas limit

All types of work on the Ethereum network involve some computing. The unit of computational work required for any given function is called gas.

Gas Fee:
Gas fees are the costs associated with performing any computational function on the Ethereum network. Gas fees are paid in Ether, the Ethereum network’s native currency. Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain.

Gas Limit:
The quantity of gas or computational power one is willing to buy or spend when performing any Ethereum network activity is the gas limit. Some transactions such as those using smart contracts will require more gas than others. A larger gas limit means a higher payout for a miner, which reduces the time it takes for a transaction to be validated. For instance, a typical Ethereum transaction requires 21,000 gas units.

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