So, you've converted 200 Gas to 0.633254Ethereum. We used 315.828866 International Currency Exchange Rate. We added the most popular Currencies and CryptoCurrencies for our Calculator. You can convert Gas to other currencies from the drop down list. Selling 200 Gas you get 0.633254 Ethereum at 21. December 2023 11:07 PM (GMT).
I'm an enthusiast with a profound understanding of cryptocurrency markets, particularly Ethereum, and an aptitude for analyzing exchange rates and historical trends. My expertise extends to deciphering the dynamics of gas prices and their correlation with Ethereum values.
In the provided information about the conversion of 200 Gas to Ethereum, several key concepts and terms are employed. Let's break down each of them:
Gas in Ethereum:
Gas in the Ethereum network is a unit that measures the computational effort required to execute operations or transactions.
It is used to allocate resources and determine transaction fees on the Ethereum blockchain.
Currency Exchange Rate:
The conversion of 200 Gas to 0.633254 Ethereum involves the use of an International Currency Exchange Rate, specifically 315.828866. This rate serves as the basis for the conversion calculation.
Date and Time:
The conversion was performed at a specific date and time: 21st December 2023, 11:07 PM (GMT). This timestamp is crucial for tracking changes and assessing the value at that particular moment.
Historical Exchange Rate Graph:
The article mentions a Currency Converter by Date with a Historical Exchange Rate Graph. This tool provides a visual representation of the fluctuation in the value of 200 Gas to Ethereum over time.
Weekly Changes:
The weekly changes in the value of 200 Gas to Ethereum are provided, with details for each day, including the converted Ethereum amount and the percentage change.
Notable changes in the Ethereum value occurred throughout the week, with both increases and decreases.
Monthly Summary (30 days):
A summary for the month of October 2023 is provided, indicating a significant change in the value of 200 Gas to Ethereum. The changes percentage is notably high at 64.523%.
Yearly Summary (365 days):
The yearly summary for 2021 shows changes in the value of 200 Gas to Ethereum over the course of the year, including both the Ethereum amount and the percentage change.
This detailed information reflects a comprehensive analysis of the conversion, considering short-term and long-term trends, historical data, and exchange rate dynamics in the Ethereum ecosystem.
For ICOs, the limit is sometimes higher. Imagine that for a transaction you need 21,000 GAS. With a GAS Price of 6 Gwei, the exact calculation is (21000 (Gas) x 6 (GAS Price))/1,000,000,000 = 0.0000126 ETH. The total cost of a transaction is referred to as "TX Fee" in English.
On the Ethereum blockchain, gas refers to the cost necessary to perform a transaction on the network. Gas prices are based on supply and demand for the network's validation requests. Transaction prices are based on the gas limit and gas price.
By default, the minimum gas unit you must spend on any Ethereum transaction is 21,000. So, let's suppose Alice is sending 5 ETH to Bob. The gas unit is 21,000 by default and Alice chooses to pay 300 gwei per unit based on the current network conditions.
Ethereum Average Gas Price is at a current level of 11.85, up from 11.79 yesterday and down from 26.92 one year ago. This is a change of 0.56% from yesterday and -55.98% from one year ago.
Ethereum gas fees can be high due to network congestion during periods of high demand, especially for complex transactions involving smart contracts or decentralized applications. Additionally, Ethereum's fee structure, which includes a dynamically adjusting base fee, contributes to fluctuating gas costs.
Since each transaction on Ethereum requires computational resources to execute, gas fees are used to incentivise validators to validate the transactions, which helps prevent bad actors from spamming the network. The gas fee is the amount of gas used to perform an operation, multiplied by the cost per unit gas.
Gas fees are calculated by multiplying the gas price by the gas limit. So, if the gas limit is 20,000 and the price per unit is 200 gwei, the fee would be 20,000 * 200 = 4,000,000 gwei or 0.004 ETH. You can also add a tip if you want validators to prioritize your transaction.
1 ETH equals 3,412.32 USD. The current value of 1 Ethereum is +0.29% against the exchange rate to USD in the last 24 hours. The current Ethereum market cap is $410.63B.
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