What is Gas in Ethereum?
If you are here, you now know that the crypto sphere is full of jargon.
Take, as an example, 'Gas' inEthereum.
To sound sophisticated and 'in the mix,' Ethereum users opted to use the term 'Gas' in place of transaction fees.
And it is pretty fitting, especially if you come to appreciate that Ethereum serves more than just being a transactional layer.
Indeed, you can move value using ETH from point A to B, but its original purpose is to launch smart contracts and operate dApps.
Gas acts like fuel and is the internal pricing in Ethereum. For every dApp, or value to move in the Ethereum network, a user must pay 'Gas' in ETH.
All smart contracts require 'Gas' to run.
But there is more that you ought to know.
The amount of 'Gas' required is shaped by the Gas price—continuously changing due to supply and demand dynamics—and the amount of Gas that action—value transfer or smart contract deployment—requires.
It means that the more active the Ethereum network is, the more 'Gas' a user will end up paying.