Purpose
Gala Games and Entertainment utilizes blockchains such as Ethereum and GalaChain to process transactions in our store. The primary purpose of this article is to educate users on the concept of gas and its mechanics. The second purpose is to inform users about why gas is needed on these blockchains and its role in ensuring a secure and decentralized network.
Assumptions Made
This article assumes the reader knows:
What is a Blockchain?
Summary
Gas, also known as Ethereum (ETH) or $GALA on GalaChain, is the unit used to measure the computational power to execute an operation on these blockchains. Each transaction on the Blockchain requires gas to execute.
The reason gas fees exist is to keep these networks secure. Requiring a "fee" for every execution on the Blockchain prevents bad actors from flooding these networks with transactions. Each transaction has a set limit on how many computational executions it can use. This is designed to prevent accidental or hostile loops or any other wastage in computational power. This is why each computation unit requires a gas fee to execute on the Blockchain.
As more transactions take up space on a block, the price of gas will increase as space becomes more limited for each transaction. As demand increases to be written on the current Block, users may tip higher to ensure that their transaction gets executed first on the Blockchain.