Gas - Reading Assignment

Blockchain Business Course
#81

  1. You add all gas costs for separate operations in a transaction.

  2. The maximum gas that you are willing to spend for a transaction.

  3. The transaction will not be executed in full and the fee you put in might be lost to miners.

  4. It might be refunded.

  5. 1 gwei is equal to 1 000 000 000 wei. Both are units of Ether.

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#82

With a list that assigns the gas price to certain programm actions

Maximum amount of gas that you are able to spend on for a certain task

Transaction will fail

The consumed gas will be spend and the rest gets back to you

A smaller unit of Ether

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#83

1.Add up each operation in a contact based the gas price list set.
2.Gas Limit is max amount of gas you are willing to pay for a transaction for miners
3.Gas will be taken while no transaction nor computational action is executed.
4.Only required gas among miners will be taken and the leftover will be returned to the owner
5. Gwei is gita wei which is 1,000,000,000 wei = ether/1,000,000,000

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#84
  1. It depends on the amount of computation required to complete the transaction.
  2. Maximum amount of gas allotted to a transaction.
  3. It will result in a failed transaction.
  4. The transaction won’t be processed.
  5. Gwei is a fraction of a wei. Wei is the smallest unit of ether.
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#85

  1. How do we calculate the total gas cost for a transaction?
    Gas limit x gas price.

  2. What is gas limit?
    Is the maximun amount of gas you are willing to pay for a transaction.

  3. What happens if we specify a gas limit that is too low?
    You can loose the gas but not the eth you want to send.

  4. What happens if we specify a gas limit that is too high and therefore not consumed fully?
    Extra unspent gas is refunded automatically.

  5. What is a gwei?
    Is a 1000000000 unit of a wei. Wei is the smallest unit of ether.

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#86
  1. The cost of gas is determined by the total number of actions that is required to complete the transaction and each action has a set cost associated with it, hens more complex actions requires higher fees.
  2. Gas limit represents the maximum amount your willing to pay for a transaction.
  3. A specified gas limit to low will result in a failed transaction, and the insufficient fee kept by miner.
  4. In the case of a specified gas limit that is to high all unconsumed gas is automatically returned.
  5. Gas prices are stated by the term gwei which represents 1000000000 wei, the smallest unit of Ethereum.
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#87

The total Gas cost is calculated by adding up all the destined costs per function, line by line.

The maximum amount of gas you are willing to spend for a transaction.

The contract wont be executed and the gas will be kept by the miners.

The contract will be executed and the extra gas will be refunded.

It is a unit of measurement, 1.000.000.000 weu and it is used as the GAS price,
It is the smallest unit of Ether.

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#88

  1. How do we calculate the total gas cost for a transaction?
    That is the total costs of the operation that is predetermined plus the minimum gas fee and fallback for failed transactions

  2. What is gas limit?
    The highest amount of gas that the party is willing to spend on the transaction

  3. What happens if we specify a gas limit that is too low?
    The transaction will start, but can run out of gas if miners do not complete and add to the block. The participant would lose the gas and fallback fees.

  4. What happens if we specify a gas limit that is too high and therefore not consumed fully?
    The transaction may be returned and not executed due to limits for the block.

  5. What is a gwei?
    gwei is a unit of gas measurement for Ethereum and is 1 million wei.

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#89

  1. How do we calculate the total gas cost for a transaction? The cumulative sum of all the operations = total gas cost.

  2. What is gas limit? A gas limit is a maximum figure that you are willing to spend on a transaction.

  3. What happens if we specify a gas limit that is too low? It will result in a failed transaction where the fee is kept by the miner.

  4. What happens if we specify a gas limit that is too high and therefore not consumed fully? The unspent gas is refunded automatically.

  5. What is a gwei? The unit by which gas price is measured in ether.

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#90
  1. How do we calculate the total gas cost for a transaction?
  • The cumulative sum of all the operations is the total gas cost for the transaction.
  1. What is gas limit?
  • the MAXIMUM amount of gas you are willing to spend on the transaction.
  1. What happens if we specify a gas limit that is too low?
  • Your transaction will start to be executed, but will eventually run out of gas and be stopped.
  1. What happens if we specify a gas limit that is too high and therefore not consumed fully?
  • Because Ethereum blocks have a gas limit size, it is probable that the transaction will stay in the Mempool as Miners will not want to deal with the transaction because it is not computationally dense enough. This is because the miners only get paid for the actual gas consumed to perform a transaction.
  1. What is a gwei?
    gas price amount
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#91
  1. We tally the Gas cost for each step in our transaction, as well as the transaction price.
  2. The maximum amount of Gas we are willing to pay.
  3. We will lose the Gas, but not the ETH, because we are going to pay for each action of code until the Gas runs out.
  4. The transaction still may not run because the miner will only be paid for the required Gas. If the miner goes forward, we will be refunded the unused Gas.
  5. One billion wei.
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#92

1] The calculation of total gas is proportional to the amount of computations made within the smart contract
2] Is the maximum amount of Gas allotted to a transaction
3] This will result in the transaction failing
4] Only the actual amount of Gas consumed performing the transaction will be deducted
5] gwei is a measurement of Gas. A wei is the smallest unit of ether and gwei = 1000000000 x wei

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#93
  1. How do we calculate the total gas cost for a transaction?
    By adding up the number of computations made by the Solidity code
  2. What is gas limit?
    The MAXIMUM amount of gas one is willing to spend on a transaction.
  3. What happens if we specify a gas limit that is too low?
    A failed transaction because the miners will not accept it.
  4. What happens if we specify a gas limit that is too high and therefore not consumed fully?
    The extra gas will be refunded to the sender.
  5. What is a gwei?
    A ‘giga-wei’, which is 0.000000001 ETH, and which is 1000000000 wei, so basically a wei is a tiny tiny number of ETH.
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#94

  1. You can use the list with the gas amounts required to perform all the different operations and then calculate the minimum needed amount of gas. For simple transactions (moving a balance from one wallet to another), specifying a maximum amount of 21,000 gwei is generally sufficient.

  2. The maximum amount that can be spent for our transaction is specified in the gas limit. Not all of it has to be consumed to perform the transaction, but it could.

  3. If the gas limit is set too low, the transaction can fail halfway through. The EVM begins performing the operations, but runs out of available gas before all operations are completed. The ether that should have been moved will not be moved, as the transaction won’t be added to the blockchain. The gas consumed, however, will not be returned.

  4. When the gas limit is too high and, thus, not consumed fully, the remaining gas will be returned. The transaction itself will still be added to the blockchain. But, there is a chance that an amount of gas may exceed the overall gas limit for a block, meaning the transaction will not be added to that block.

  5. A wei, similar to bitcoin’s satoshis, is the smallest unit of ether. A gwei is 1,000,000,000 wei, whereas one ether is 1,000,000,000,000,000,000 wei. At the current price of ether, specifying the gas price in wei would result in very unwieldy numbers, thus, gwei is the unit of choice of popular Ethereum wallets.

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#95

1- The cumulative sum of all the operations is the total gas cost for the transaction.

2- The maximum amount of gas you are willing to spend on the transaction.

3- The transaction will fail.

4- Unspent gas is refunded automatically

5- Wei is the smallest unit of ether, and gwei is simply 1000000000 wei.

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#96
  1. How do we calculate the total gas cost for a transaction? By adding up all of the individual costs of each operation or calculation in the transaction.
  2. What is gas limit? This is the maximum amount of gas you are prepared to spend on the execution of the transaction.
  3. What happens if we specify a gas limit that is too low? The transaction will fail and any gas fees used by the miner so far will be kept by the miner.
  4. What happens if we specify a gas limit that is too high and therefore not consumed fully? This remaining gas that is not used by the miner is automatically refunded back.
  5. What is a gwei? It is the unit of measure for gas prices. A Gwei is 1 billion wei (1,000,000,000) or a giga wei. 1 wei is the smallest unit of ether (0.000000000000000001 ether).
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#97
  1. It will depend on how complet the smart contract is. If more computational requirement is to be executed, it will be more expensive than a simple operation
  2. the max amount of gas you are willing to spend on a tx-
  3. you lose your money (fee cost is lost)
  4. Gwei is the smallest unit of Ether: 1 eth= 1 billion Gwei
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#98

1. How do we calculate the total gas cost for a transaction?
Each instruction in a transaction has a price in gas for execution. Total gas cost is the sum of all gas costs

2. What is gas limit?
Maximum amount of gas you are willing to spend on a transaction.

3. What happens if we specify a gas limit that is too low?
The transaction is not executed as it will run out of gas, but the fee is paid.

4. What happens if we specify a gas limit that is too high and therefore not consumed fully?
It is returned.

5. What is a gwei?
is a denomination of ether or a multiple of wei. 1eth = 1B gwei, 1gwei= 1B wei

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#99
  1. It depends on the type and number of tasks that have to be performed.
  2. It’s the maximum amount the user is willing to spend for a specific transaction, so it is set by the user itself.
  3. The transaction will fail and the miner will keep the fees.
  4. Remaining gas will be refunded to the user.
  5. A gwei it’s one billion wei, which is the smallest unit of ether. Gwei is usually adopted as the unit of measure for gas requirements.
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#100

  1. On Ethereum every operation has a gas price. To calculate the total gas costs of the transaction you should sum up all the gas costs from all the operations in the transaction. The gas cost for a operation depends on the complexity that means how many ressources are needed in order to perform it.

  2. The gas limit is the maximum price a user is willing to pay for a transaction.

  3. It begins with executing your code but at some point it runs out of gas that means there is not enough gas anymore to pay the further operations. The transaction is not being performed which means your Ether still belongs to you and the transaction is not propagated through the network but the small costs for executing the first operations got to the miners and cannot be reverted.

  4. When you set gas limit too high and it exceed the block gas limit (the block gas limit defines the maximum amount of gas all transactions in a block can consum) it could take a very long time to execute your transaction or maybe never execute your transaction.

  5. Gwei is a small unit of Ether, just like the “satoschis” in Bitcoin. The gas price is paid in Ether. Because the costs are very small measured in Ether a special notation is used for a better reading/understanding. This unit which represents a small portion of ether is called gwei.

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