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blockchain

Gwei

A small unit of ETH used to measure gas prices.

Definition

A small unit of ETH used to measure gas prices. One gwei equals 0.000000001 ETH (one billionth). When people say gas is '50 gwei,' they mean each unit of gas costs 50 billionths of an ETH.

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Related Terms

Gas

The fee paid to process transactions on Ethereum and similar blockchains.

Ethereum

A blockchain platform that enabled smart contracts and decentralized applications.

Transaction

A transfer of value or data recorded on a blockchain.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

ERC-4337

The Ethereum standard for account abstraction without changing the core protocol.

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