All For One
  • Getting Started
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      • Enabling Chains
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  • Glossary
    • Definitions
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      • Gas
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    • Disambiguation
      • Coins vs Tokens
      • Seed Phrase vs Private Key
      • DEXs vs CEXs
      • Fungible vs Non-Fungible Tokens
      • PoW vs PoS
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  1. Glossary
  2. Definitions

Gas

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Last updated 2 years ago

Many networks require the expenditure of a small amount of cryptocurrency, known as Gas, in order to facilitate the sending of assets on that . Gas is the term used to describe the unit of measurement for the amount of computational power required to complete a transaction on a blockchain. In order to send assets on a blockchain, a user must pay a certain amount of gas to cover the cost of the computation. This is typically done using the blockchain's native cryptocurrency, such as Ether for the Ethereum blockchain.

The amount of gas required to complete a transaction can vary depending on the complexity of the transaction and the current state of the network. The gas is used to pay for the computational resources required to process the transaction and add it to the blockchain. Without gas, transactions on a blockchain cannot be completed.

blockchain