Gwei
Intermediate
The term gwei refers to a small denomination of ether (ETH), which is the native currency of the Ethereum blockchain.
Along with ETH, gwei is the most commonly used denomination of Ethereum’s cryptocurrency, and it is particularly useful when talking about gas. Simply put, gas is the pricing mechanism used on the Ethereum network. Such a mechanism is responsible for calculating the fees when users perform a transaction or execute a smart contract operation.
Specifically, a unit of gwei is defined as one-billionth (one Nano) of an ether. So 1 gwei equals 0.000000001 or 10e-9 ETH. Conversely, 1 ETH equals one billion (10e9) gwei.
There are several other denominations of ether, each representing a multiple of wei (the smallest unit of ETH).
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