Gas Price
The amount of Ether (ETH) a user is willing to pay per unit of gas for a transaction on Ethereum.
What is Gas Price?
Gas price is the cost per unit of gas, denominated in Gwei (1 Gwei = 10^-9 ETH), that a user sets when submitting a transaction to the Ethereum network. It determines the priority of the transaction, as validators typically prioritize transactions with higher gas prices. After EIP-1559 (implemented in August 2021), the gas price consists of a base fee (burned by the network) and an optional priority fee (paid to validators). Users can adjust gas prices in wallets like MetaMask to balance speed and cost.
Related Terms
Gas Cost Complexity
The variable and cumulative transaction fees on blockchains that complicate liquidity provision and trading in DeFi.
APY （DeFi）
Annual Percentage Yield (APY) is the annualized rate of return on an investment or loan, accounting for compound interest earned or paid over a year.
Bitcoin Core
Bitcoin Core is the primary software client for running a Bitcoin full node, validating transactions, and contributing to the network’s proof-of-work consensus.
Taproot
Taproot is a Bitcoin protocol upgrade that enhances privacy, efficiency, and smart contract capabilities by introducing a new transaction type and signature scheme.
Buy Side
The portion of the order book listing aggregated buy orders at various price levels.
CBDC
A central bank-issued digital currency designed to function as legal tender.