That network fee that popped up when you made a transfer—who exactly did you pay it to?
First, what it is: Gas is the unit Ethereum uses to measure how much computation a transaction consumes. A regular ETH transfer consumes 21,000 Gas.
The reasoning behind it: Charging for every computational step helps prevent malicious programs from hogging the network with code such as infinite loops.
$ETH is the native coin used to pay for Gas on the Ethereum mainnet.
Understand the principles before you get started; don’t make decisions based on gut feeling.
First, what it is: Gas is the unit Ethereum uses to measure how much computation a transaction consumes. A regular ETH transfer consumes 21,000 Gas.
The reasoning behind it: Charging for every computational step helps prevent malicious programs from hogging the network with code such as infinite loops.
$ETH is the native coin used to pay for Gas on the Ethereum mainnet.
Understand the principles before you get started; don’t make decisions based on gut feeling.