Explore approved Crypto definitions, everyday examples and related lessons.
Showing 3 of 3 matching terms
The unit that measures how much computing effort an Ethereum operation needs. You pay for gas in ether.
Example: A taxi meter measures distance while the tariff determines the bill. Gas measures computational work; the gas price helps determine the fee paid in ETH.
A token that gives its holders voting power over a protocol's rules, settings or treasury.
Example: A club gives voting rights under its constitution. A governance token likewise has specific voting rules; holding it need not give ownership of the organisation or a share of its profits.
Keep in mind: Voting rights can require delegation or other conditions. They do not automatically grant company ownership or distributions.
A small unit of ether used to price gas: 1 gwei is one-billionth of an ETH (0.000000001 ETH), and 1 ETH = 1,000,000,000 gwei.
Example: Cents are a smaller way to quote an amount of dollars. Gwei is a smaller unit of ETH, useful for quoting gas prices; it is not a separate coin.