Gwei
A denomination of Ether equal to one billionth of an ETH, commonly used to express gas prices.
In-Depth Explanation
Gwei (giga-wei) = 10^-9 ETH = 0.000000001 ETH. Gas prices are quoted in gwei because whole ETH amounts would be unwieldy for transaction fees. A typical gas price might be 20-100 gwei during normal conditions, spiking to 500+ during high congestion. Wei is the smallest ETH unit (1 ETH = 10^18 wei).
Related Terms
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View all →Gas Fees
Transaction fees paid to validators/miners for executing operations on a blockchain.
Layer 2
L2Scaling solutions built on top of a base blockchain (L1) that process transactions off-chain while inheriting L1 security.
Layer 1
L1The base blockchain that provides security and consensus, such as Ethereum, Bitcoin, or Solana.
Sequencer
The entity that orders and batches transactions on an L2 rollup before submitting them to L1.