Author: Hyperon Chain Published: May 29, 2022 Updated: May 29, 2022
What exactly is gas?
The term "gas" refers to a special unit used in smart contract enabled blockchain networks. It quantifies how much "work" an action or set of actions requires to complete: for example, calculating a Keccak256 cryptographic hash will require 30 gas each time a hash is calculated, plus an additional 6 gas for every 256 bits of data hashed. Every operation that a transaction or contract can perform on the platform costs a certain amount of gas, with operations requiring more computational resources costing more gas than operations requiring few computational resources.