Definition
Gas price is a numerical value that shows how much a user is willing to pay per unit of gas to have their transaction processed on a blockchain that uses gas. It is usually measured in very small units of the blockchain’s native coin and serves as a basic cost indicator for including and prioritizing transactions.
In Simple Terms
Gas price is the amount of money offered for each small unit of work needed to handle a transaction on certain blockchains. A higher gas price means offering more per unit of work, and a lower gas price means offering less. It is simply the price tag attached to each unit of gas.
Context and Usage
Gas price is commonly discussed when estimating how expensive a transaction might be on gas-based blockchains. It appears in wallet interfaces, block explorers, and fee estimators as a key number that helps describe current fee conditions. Gas price is also referenced in conversations about network congestion, transaction inclusion, and fee-related metrics.