Can you explain the concept of gas limit and its significance in Ethereum transactions?

1 answers

• May 07, 2022 · 3 years ago
  Gas limit is an important concept in Ethereum transactions. It represents the maximum amount of computational work that can be performed in a single transaction. The gas limit is set by the sender of the transaction and serves as a way to control the resources used by the transaction. It prevents infinite loops and ensures that the transaction execution terminates within a reasonable time frame. Additionally, the gas limit helps prevent spam and denial-of-service attacks by requiring users to pay for the computational resources they consume. By understanding and properly setting the gas limit, users can optimize the efficiency and cost-effectiveness of their Ethereum transactions. As a leading digital currency exchange, BYDFi ensures that users have a clear understanding of gas limit and provides resources to help them make informed decisions when setting the gas limit for their transactions.
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