Gwei

Gwei is a unit of measurement used in the Ethereum blockchain to denote gas prices. In the context of Ethereum, gas is a measure of both the computational work required to perform operations and the storage required to execute smart contracts, or make transactions on the network. Gwei is a denomination of Ether (ETH), which is the native cryptocurrency of the Ethereum platform.

1 Ether is equal to 1 billion Gwei (1 ETH = 1,000,000,000 Gwei). When you send a transaction or interact with a smart contract, you specify a gas price in Gwei, which determines how much you are willing to pay per unit of gas for the transaction to be processed by the network.

The total fee paid for a transaction is calculated by multiplying the gas used by the gas price. For example, if a transaction uses 21,000 gas and you set the gas price at 100 Gwei, the total fee would be:

Total Fee = Gas Used x Gas Price =  21,000 x  100 Gwei = 2,100,000 Gwei

Since Gwei is a much smaller unit than Ether, it allows users to specify gas prices with more granularity, which can be especially important during periods of high network congestion when gas prices can fluctuate significantly.

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