Gas Price
The amount of Ether (ETH) a user is willing to pay per unit of gas for a transaction on Ethereum.
What is Gas Price?
Gas price is the cost per unit of gas, denominated in Gwei (1 Gwei = 10^-9 ETH), that a user sets when submitting a transaction to the Ethereum network. It determines the priority of the transaction, as validators typically prioritize transactions with higher gas prices. After EIP-1559 (implemented in August 2021), the gas price consists of a base fee (burned by the network) and an optional priority fee (paid to validators). Users can adjust gas prices in wallets like MetaMask to balance speed and cost.
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