Gas is the Ethereum blockchain’s fee for conducting a transaction or executing a smart contract.
Gas fees are paid in gwei, a fractional unit of Ethereum’s native asset ETH. The gas fee is paid to miners as compensation for the computational work they conduct to process and validate transactions on the blockchain. The gas limit is the maximum amount of gas (or, energy) that one is willing to spend on a transaction.
The cost of gas is determined by Ethereum’s miners via supply and demand; miners can decline to add a transaction to the blockchain if the gas price associated with the transaction is not high enough, and users who wish to have an action executed quickly can likewise increase the gas associated with their transaction to make processing it more appealing to miners.
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Bison Trails is a blockchain infrastructure platform-as-a-service (PaaS) company based in New York City. We built a platform for anyone who wants to participate in 23 new chains effortlessly.
We also make it easy for anyone building Web 3.0 applications to connect to blockchain data from 33 protocols with Query & Transact (QT). Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.
In January, 2021, we announced Bison Trails joined Coinbase to accelerate our mission to provide easy-to-use blockchain infrastructure, now as a standalone product line. The Bison Trails platform will continue to support our customers. With Coinbase’s backing, we will enhance our infrastructure platform and make it even easier to participate in decentralized networks and build applications that connect to blockchain data.