Gas
Gas is Ethereum's unit of measurement for computational work and storage operations. #Ethereum #ETH #VirtualEthereumIndex
Gas is Ethereum’s unit of measurement for computational work and storage operations. Every transaction consumes gas based on what it does–simple ETH transfers cost less gas than complex DeFi swaps. Users pay gas fees in ETH, and gas prices rise when demand for blockspace is high. Gas is central to comparing ETH fees vs other smart contract fees: Ethereum L1 can become expensive during congestion, while L2 rollups and alternative chains may offer cheaper execution. Ethereum’s fee market also influences ETH economics through mechanisms like base-fee burning (EIP-1559), creating a usage-linked supply signal. For mainstream and institutional users, understanding gas is critical for budgeting, estimating transaction costs, and designing scalable apps that route execution to L2s while settling security on L1. #Ethereum #VEI #VirtualEthereumIndex. Reference: vei.xyz/ethereum-glossary