Hi , I am new in this blockchain field.. sorry for my ignorance
Try to learn step by step , how Blockchain actually works ..
so One word I found GAS ,, and after google it got this :
Gas is the name for the execution fee that senders of transactions need to pay for every operation made on an Ethereum blockchain,
Can anyone here please elaborate this for me with an example..
For exapmple: If I want to purchase ERC20 token, I have to pay GAS [ or excution fees]
Please help me.
Cheers
gas stands for transaction fee that you have to pay when executing transactions in blockchain. without gas, you wont be able to transfer your funds or your altcoin to another.
transaction process depends on the gas or gwei you set, the higher the gas, the faster it will transfer.
Ok , Thanks for your answer that means without GAS , we cannot send any token ... Gas is necessary for BLOCKCHAIN and minning,.. the higher the GAS price .. its faster ... ok that Means If I want to invest BITCOIN or Altcoin I have to pay some fees , such as when we transfer money via NEFT/IMPS we have to pay some transaction fees ... is my understanding is OK?