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Gas Limit

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 26 Apr 2023

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Gas Limit

Gas Limit is a term used in the Ethereum blockchain to refer to the maximum amount of gas that can be used in a single transaction. Gas is a unit of measure used to determine the amount of computational effort required to execute a transaction or smart contract. The gas limit is set by the sender of the transaction and is used to prevent malicious actors from overloading the network with transactions that require too much computational effort.

History of Gas Limit

The concept of gas limit was first introduced in the Ethereum Yellow Paper, which was published in 2014. The paper proposed a new blockchain-based platform that would allow users to create and execute smart contracts. The paper proposed the use of a gas limit to ensure that the network was not overloaded with transactions that required too much computational effort. The gas limit was designed to prevent malicious actors from overloading the network with transactions that require too much computational effort.

Gas Limit vs. Gas Price

Gas Limit and Gas Price are two different concepts in the Ethereum blockchain. Gas Limit is the maximum amount of gas that can be used in a single transaction, while Gas Price is the amount of Ether (ETH) that must be paid for each unit of gas used. The Gas Price is set by the sender of the transaction and is used to incentivize miners to process the transaction.

Gas Limit Gas Price
Maximum amount of gas used in a single transaction Amount of Ether (ETH) paid for each unit of gas used

Summary

Gas Limit is a term used in the Ethereum blockchain to refer to the maximum amount of gas that can be used in a single transaction. The gas limit is set by the sender of the transaction and is used to prevent malicious actors from overloading the network with transactions that require too much computational effort. Gas Limit is different from Gas Price, which is the amount of Ether (ETH) that must be paid for each unit of gas used. For more information about Gas Limit, visit the Ethereum website or the Ethereum Yellow Paper.

See Also

  • Gas Price
  • Ethereum
  • Ethereum Yellow Paper
  • Smart Contracts
  • Blockchain
  • Mining
  • Ether (ETH)
  • Transaction Fees
  • Computational Effort
  • Malicious Actors

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