What is Ethereum Gas? [The Most Comprehensive Step-By-Step Guide Ever!] - Deepstash
From Bitcoin to Smart Contracts

Bitcoin created a decentralized monetary system which can transfer money from one person to another. That only allowed for monetary transactions, there was no way to add conditions...

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What is Ethereum Gas? [The Most Comprehensive Step-By-Step Guide Ever!]

blockgeeks.com

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Ether is made of a blockchain (an immutable database) and a world decentralised computer (EVM), a virtual machine in which all the smart contracts function in Ethereum. 

The EVM ...

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The attributes of a Smart Contract

A smart contract functionality needs to be 3 things: 

Deterministic: it gives the same output to a given input every single time.

Terminable: cont...

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Gas is a unit that measures the amount of computational effort that it will take to execute certain operations. Each and every line of code in an Ethereum smart contract requires a...

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Incentivization. Like any proof-of-work peer-to-peer system, Ethereum is heavily dependent on the computational power of its miners. More miners, more computational power, more secure and f...

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If bitcoin is digital gold, Ethereum is alike the power grid, powering an ecosystem of worldwide decentralized applications

The gas is the metering system for the cons...

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To get an operation done in Ethereum, the sender of the transaction must specify a gas limit before they submit it to the network & a gas price: 

  • The gas limit is the ma...

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If an operation runs out of gas, then it is reverted back to its original state like nothing actually happened, however, the operation generator must STILL pay the miners the fee f...

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When two numbers are added a million times in Ethereum it costs ~$26.55 in fees. On Amazon AWS system it costs $0.000000066.

This means that computation in Ethereum is 400 million tim...

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