GWEI

GWEI stands for "Gas Price" in the Ethereum network. Gas price is the amount of Ethereum that a user is willing to pay for every unit of gas to execute a transaction or smart contract. The gas fee is used to incentivize Ethereum miners to validate transactions and add them to the blockchain. The Ethereum network uses a proof-of-work consensus mechanism that requires miners to perform computational work to validate transactions. This work is used to secure the network and prevent spam or malicious transactions. The gas fee helps ensure that miners have an economic incentive to perform this work and prioritize transactions based on their gas price. The gas price is determined by market forces and can fluctuate based on supply and demand. During times of high network congestion, the gas price may increase, making it more expensive to execute transactions on the Ethereum network. Therefore, users must set a reasonable gas price to ensure their transaction gets executed within a reasonable timeframe.