What Is ETH Gas & How Does It Impact the Ethereum Network?
Dec 23, 2020
10 min read
The native cryptocurrency Ether (ETH) fuels the Ethereum network. So, whenever you want to transfer ETH to another address, the concept of gas, gas limit, gas price will be associated to perform an ETH transaction.
To understand how ETH gas works, it’s best to start understanding the basics. When analyzing fundamentally, Ethereum is interconnected with a vast web of computers that store and process all transactions on the labyrinth network of Ethereum. Simultaneously, these functionalities are backed up by smart contracts that have been pre-defined to execute trades, including value transfers and settlements without an intermediate party. But, for all of it to happen, ETH gas is needed.