This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
FAQ 32 – What does “gas” and “hashage” mean?
The "Gas"
‘Gas’ is the gas fees paid in Ether (ETH). It expresses the computing power required to properly execute a transaction on the Ethereum blockchain.
Gas can be associated with the fuel a car needs to move. In effect, gas powers the transactions and allows them to perform various operations.
Gas prices are expressed in gwei (a small sub-unit of ETH):
1 ETH = 1,000,000,000 GWeis.
The Hashage
Definition of hashage
Hashage is an algorithm that reduces a text into a sequence of characters.
The hash is a file that allows the size and completeness of a computer file to be verified.
The hash, central to the operation of bitcoin, makes it possible to verify simply and efficiently that two copies of the information are identical.
It is impossible to trace the original message from the hash.
SHA-256 is an example of a HASH that is widely used by bitcoin.
Hashage’s properties
The hash function has several properties:
– Deterministic,
– Creates an avalanche effect, i.e. any modification of a data leads to a completely different hash than the original one,
– Computing speed,
– One-way function,
– Resistant to collisions, i.e. for two data taken at random, it is complicated to find two data with the same hash.