Ethereum Gas fees ? # Lets understand crypto eth gas fees # simple steps learn and earn #

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Gas in Ethereum

Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. "Gas limit" refers to the maximum amount of gas (or energy) that you're willing to spend on a particular transaction.
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Understanding Gas in Ethereum
The concept of gas was introduced to maintain a distinct value layer that solely indicates the consumption toward computational expenses on the Ethereum network. Having a separate unit for this purpose allows for a practical distinction between the actual valuation of the cryptocurrency (ETH), and the computational cost of using Ethereum's virtual machine (EVM). Here, gas refers to Ethereum network transaction fees, not the gasoline for your car.
Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. "Gas limit" refers to the maximum amount of gas (or energy) that you're willing to spend on a particular transaction. A higher gas limit means that you must do more work to execute a transaction using ETH or a smart contract.
To draw an analogy, running a real-world car for X miles may require Y gallons of fuel, or moving X amount of money from your bank account to your friend’s credit card account may cost you Y dollars in a processing fee. In both cases, X indicates the utility value, while Y indicates the cost of performing the process of the car trip or financial transaction.
Similarly, a contract or transaction on Ethereum may be worth 50 ETH (X), and the gas price to process this transaction at that particular time might be, say, 1/100,000 ETH (Y).
Ethereum miners, who perform all the important tasks of verifying and processing transactions on the network, are awarded this particular fee in return for their computational services. If the gas price limit is too low, miners can choose to ignore such transactions. As such, the price of gas fluctuates (priced in ETH) with supply and demand for processing power.
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