How does gas limit affect the speed of cryptocurrency transactions?

1 answers

• dovchko onoltJun 21, 2023 · 2 years ago
  Gas limit is a parameter that determines the maximum amount of computational work that can be done in a single transaction. It is an important factor in the Ethereum network and affects the speed of cryptocurrency transactions. When the gas limit is set too low, transactions may fail to execute or take a longer time to confirm. Conversely, setting a higher gas limit allows for faster transaction execution. However, it's important to strike a balance between gas limit and transaction fees. Setting an excessively high gas limit can result in unnecessary costs. Therefore, it's crucial to optimize the gas limit to achieve faster and cost-effective cryptocurrency transactions.
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