Glossar

G

Gas Fee

A fee paid by users to execute transactions or smart contracts on a blockchain network, such as Ethereum. It compensates miners or validators for their computational work.

Genesis Block

The first block of a blockchain, marking the beginning of the network.

Governance Token

A cryptocurrency token that grants holders voting rights or decision-making power in a decentralized network or protocol.

Gas Limit

The maximum amount of gas (computational effort) a user is willing to spend on a transaction or smart contract execution.

Governance Proposal

A formal suggestion for changes or updates to a blockchain network or protocol, often voted on by token holders.

Gwei

A denomination of Ethereum’s native cryptocurrency (ETH), used to measure gas fees. 1 Gwei = 0.000000001 ETH.

Gas War

A situation where users compete to have their transactions processed quickly by offering higher gas fees, often during periods of high network congestion.

Genesis Address

The first address created on a blockchain, often associated with the creator(s) of the cryptocurrency.