Gas Price
The amount paid per unit of gas (e.g., gwei) to incentivize transaction inclusion on EVM chains.
Total transaction fee equals gas used × gas price. With EIP-1559, users set max fee and priority fee; miners/validators receive the tip while the base fee is burned.
A simple transfer uses ~21,000 gas; at 10 gwei gas price, the fee is ~0.00021 ETH plus priority tip depending on network conditions.
Related Terms
Gas
→The unit of computational work on EVM chains; users pay gas in the native token to execute operations in smart contracts.
Ethereum Virtual Machine (EVM)
→The Ethereum Virtual Machine (EVM) is the runtime environment for executing smart contracts on the Ethereum blockchain and EVM-compatible networks.
Gwei
→A denomination of ETH equal to 10^9 wei, commonly used to quote gas prices.
All terms and definitions may update as the Cryptionary improves.
