Gwei
Technology & Computing abbreviation · Cryptocurrency & Blockchain
| Stands for | Gigawei |
|---|---|
| Categories | Technology & Computing |
Gwei stands for Gigawei, a cryptocurrency & blockchain abbreviation.
A denomination of ether equal to one billionth (0.000000001) of an ETH, or one billion wei, used to quote Ethereum gas prices. Wallets show fees such as "20 gwei" per unit of gas.
Example: Gas dropped to 8 gwei overnight, so the batch of transfers cost almost nothing.
Usage notes
Wei, the smallest unit, is named after cryptographer Wei Dai, creator of the b-money proposal, and another denomination, the szabo, honors Nick Szabo. A transaction's fee equals the gas used multiplied by the gas price. Ethereum's unit tables also give gwei the alternative name shannon.
Related abbreviations
More cryptocurrency & blockchain abbreviations
- ERC-721 – Ethereum Request for Comments 721
- ETC – Ethereum Classic
- ETH – Ether
- EVM – Ethereum Virtual Machine
- FDV – Fully diluted valuation
- FUD – Fear, uncertainty and doubt
- HD – Hierarchical deterministic (wallet)
- HODL – Hold on for dear life (backronym)
- ICO – Initial coin offering
- IEO – Initial exchange offering
- IL – Impermanent loss
- IPFS – InterPlanetary File System