What is "Gas", "Gas Limit", "Gas Fee" and "Gwei"?

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self.UniSwap1m ago
What is "Gas", "Gas Limit", "Gas Fee" and "Gwei"? Many times we are confused about these terms. If you work with EVM, you must use "Gas". Gas is working like a Gasoline.Forget everything and think of EVM like FedEX or UPS. EVM is a shipping company. You have a package for delivery and EVM calculates cost like these shipping companies. FedEx or UPS(EVM) measures the distance between the shipping place and destination of the cargo and multiplies it by the gasoline price. The farther the distance, the more expensive it will be to ship the cargo.Making a transfer at EVM is like sending a package with a shipping company. The only difference is the unit difference.Shipping company measure the distance with "KM" and EVM measure with "Gas Limit" Shipping company uses "Gasoline" and EVM uses "Gas" as fuel. Shipping company calculates gasoline price with "USD" and EVM calculates with "Gwei" The distance to send an Ethereum is 21000 gas. It is Fixed. Distance between Washington and New York is fixed. If you type a low gas like 15000, your fuel is over and you would be stranded on the road, that means your transaction will be failed and you waste your gasoline. If you type a high gas like 40000, your fuel would be abundant. You can say i never type a gas on MetaMask. Right,MetaMask calculates it for you. It knows how much gas is needed. This means,MetaMask measures the distance for you and says how much gasoline you need to put in. You set up GWEI. Not gas limit, not gas. Gwei is the price of gasoline. 1 Gwei equal 0.000000001 ETH. You check it on Etherscan and see 100 Gwei. This is the price offered for 1 gas. Let's calculate the cost with this Gwei for sending Ethereum. 1. Gas Limit to send an Ethereum is 21000 GAS 2. Gwei is 100 3. 100 Gwei is 0.000000001 ETH 4. 21000 x 0.0000001 ETH = 0.0021 ETH This is the cost of sending Ethereum. The only thing that has changed in transfers is the Ether fee you pay per Gas, which is Gwei. Attention, This is not the USD equivalent. Does the gas fee increase if the ether price rises? Of course, if the Gwei price stays fixed. However, Gwei is not fixed. If Ether price goes up, you will pay 1000 Wei, not 100 Gwei. 1 Gwei = 1,000,000,000 Wei That is the same on all chains running on EVM. Send a MATIC in Polygon is 21000 GAS Send a BNB in BNBChain is 21000 Gas So why Ethereum is expensive and these are cheap? Same distance, same shipping company car(DOBLO). So let's find the answer. Gwei, i mean the price offered for 1 gas is low on BNBChain and other EVM Chains. So why is it low? Because of scalability and security. Check Ethereum Trilemma. Well, if the Gwei is the same, why swap on Uniswap is more expensive than sending Ethereum? It's about Gas Limit. So distances is very long. Sending Ethereum 21000 Gas Swap on Uniswap 130000 Gas Using TornadoCash 300000 Gas Long distances means requires too much gas(gasoline) So, we are saying that Ethereum's scalability is impossible because of Gas Limit and Gas. Distances are long and the cars use gasoline a lot. Ethereum is like a Ferrari. Fast and expensive.For scalability, we need to shorten the distance between New York and Washington(Snark). It means we need to reduce the gas and gas limit. Scalability means reducing gas and gas limit. You should buy a fast car and shorten the distances. High Throughput, it is to enlarge cargo vehicles. The distance is the same, you just take in more cargo. Thanks to TobbyKitty for this source. ertugrul\_eth