In this episode, we talk a little bit about the state of ETH NFTs, the current roller coaster of crypto, and how we need to rethink or rename "gas fees" to better understand and embrace the fees that aren't going anywhere anytime soon.
We talk:
Ethereum Is a first-mover advantage blockchains aka much like “Front running stocks
Gas is how the miners (Computers solving the problems) get paid
Gas units are the tasks within a smart contract
The more gas you pay the higher priority you are given… Gas order helps prevent the network from becoming overrun
Most contracts build in suggested gas to keep most actions in order of which the actions are taken.
Gas can fluctuate based on the type of contract, how clean the code is and time of day/ traffic on the network.
Too low gas the transaction will fall off the bottom of the list and it will fail and you will lose part of your gas
In some cases, the gas you are actually charged will be less than the suggestion because the task completes prior to needing to use that amount of gas.
Gas pays for it to keep running and the reason it's a separate charge is so it doesn’t drastically impact the price of Etherum
Gwei means “Giga-wei” 1 GWEI equals .0000000001Instead of using that we use total GWEI
1 billion Gwei. = 1 ETH
Websites Mentioned:
https://icy.tools/collections/trending
https://ethgasstation.info/
https://txstreet.com/v/eth
Projects mentioned:
Inbetweeners
Womens Tribe
Women and Weapons
CryptoChicks
World of Women
AlphaWomenClub
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