Ether is the internal network currency for Ethereum. Just like Bitcoin has Satoshi and Millibits and the USD has dollars and cents, Ethereum has its own denominations and naming terminology. Ether is also used to pay for various transaction and computational tasks performed on the Ethereum network – and this is confusingly called GAS. There is a GAS limit on each block (i.e. how many computational transactions can be performed per block) which limits the block size and determines the cost of executing a contract immediately. A table below shows the different Wei denominations:
All the small denominations are named after pioneers in the Cryptographic space in a nod to Bitcoin’s naming terminology. A Finney is named after Hal Finney and a Szabo after Nick Szabo, some of the usual suspects for the face behind the eponymous Satoshi Nakomoto.
- All Eyes on Blockster: The Social Network Empowering Crypto Sponsored
- Wault.Finance, the Platform Behind the World's First Commerce-Backed Stablecoin Sponsored
- Four Projects Bridging Crypto to the Real World Sponsored
- What is Staking?
- Is There a Legitimate Way to Earn Free Bitcoin?
- What Is Merged Mining?
- Bitcoin's Volatility and Other Concerns
- What Do You Need to Do to Become a Skilled Trader?
- What is GAUGECASH?
- Feel the Euro 2020 Winning Euphoria on 1xBit and Win Amazing Crypto Prizes
This website is only provided for your general information and is not intended to be relied upon by you in making any investment decisions. You should always combine multiple sources of information and analysis before making an investment and seek independent expert financial advice.
Where we list or describe different products and services, we try to give you the information you need to help you compare them and choose the right product or service for you. We may also have tips and more information to help you compare providers.
Some providers pay us for advertisements or promotions on our website or in emails we may send you. Any commercial agreement we have in place with a provider does not affect how we describe them or their products and services. Sponsored companies are clearly labelled.