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Title: Why Ethereum uses gas Post by: CryptoEnthused on November 30, 2017, 08:33:54 PM Well, I know that it has fixed gas limits for a particular operation but the gas price still varies. So why we need all these complications? Why not use ETH for transactions? Gas price and gas limit cost some Ethereum anyway, right? They are not separate currencies?
Title: Re: Why Ethereum uses gas Post by: TaKlarPH on November 30, 2017, 08:48:57 PM Sorry your questions got me down. Based on how I underatant you qusstion here my answers are gas is fee that a website or wallet earns. We isers used it and gas or fee cant be stop because thats how we pay them in return of using there wallet and online wallet.
Title: Re: Why Ethereum uses gas Post by: HabBear on November 30, 2017, 11:06:02 PM Well, I know that it has fixed gas limits for a particular operation but the gas price still varies. So why we need all these complications? Why not use ETH for transactions? Gas price and gas limit cost some Ethereum anyway, right? They are not separate currencies? ETH is the ticker symbol for Ether, Ethereum's currency for compute processing. Ether has been nicknamed "gas" because in science ether is a gas. ETH and gas are the same thing. The limits for an operation represent the processing limits for a transaction on their blockchain network. The price of ETH/ether/gas is a measure of supply and demand for that processing power. Title: Re: Why Ethereum uses gas Post by: kahc on December 01, 2017, 12:30:22 AM Well, I know that it has fixed gas limits for a particular operation but the gas price still varies. So why we need all these complications? Why not use ETH for transactions? Gas price and gas limit cost some Ethereum anyway, right? They are not separate currencies? Maybe you got confused by the the token GAS,the currency that drives the NEO network. :D https://i.imgur.com/dxTuZJq.jpg Title: Re: Why Ethereum uses gas Post by: linyhan on December 01, 2017, 01:39:35 AM Well, I know that it has fixed gas limits for a particular operation but the gas price still varies. So why we need all these complications? Why not use ETH for transactions? Gas price and gas limit cost some Ethereum anyway, right? They are not separate currencies? It serves as a fee in making transactions. Its like just other wallets where you need to pay a fee in order to complete the transaction you are making.Title: Re: Why Ethereum uses gas Post by: TeaPanda on December 01, 2017, 02:12:23 AM Good read:
https://www.cryptocompare.com/coins/guides/what-is-the-gas-in-ethereum/ Title: Re: Why Ethereum uses gas Post by: Leeke on December 01, 2017, 03:06:28 AM ETH is the ticker symbol for Ether, Ethereum's currency for compute processing. Ether has been nicknamed "gas" because in science ether is a gas. ETH and gas are the same thing. I love this answer! It never actually crossed my mind as I was always happy to roll with the Gas is Fuel analogy that gets "pumped" around to get your trx from a to b (sorry - I suck at puns). Title: Re: Why Ethereum uses gas Post by: phillza on December 01, 2017, 05:11:03 AM cheers for that I did not know thats why it was called "gas" haha
Title: Re: Why Ethereum uses gas Post by: CryptoEnthused on December 02, 2017, 08:57:31 PM Thanks for replies. Now I got. But it still seems odd to me that people try to divide Ether and gas whereas it's the same thing. I read that it is meant to decouple market value of Ether and compulation use. How this process of decoupling works then? If Ether and gas is the same thing, how does it decouple them. Can anyone help me understand this
Title: Re: Why Ethereum uses gas Post by: sebastianpenguen on December 02, 2017, 08:58:57 PM Thanks for replies. Now I got. But it still seems odd to me that people try to divide Ether and gas whereas it's the same thing. I read that it is meant to decouple market value of Ether and compulation use. How this process of decoupling works then? If Ether and gas is the same thing, how does it decouple them. Can anyone help me understand this This is to incentivize ethereum mining and making a decrease in total ethereum as far as I know. Without gas, the system would be very basic. The current situation is very well created by Vitalik Buterin. |
