What is GAS in Expanse?
Gas is supposed to be the constant cost of network resources/utilization. Users want the real cost of sending a transaction to always be the same, so users cannot really expect Gas to be issued, currencies in general are volatile.
So instead, we issue Expanse whose value is supposed to vary, but also implement a Gas Price in terms of Expanse. If the price of Expanse goes up, the Gas Price in terms of Expanse should go down to keep the real cost of Gas the same.
Gas has multiple associated terms with it: Gas Prices, Gas Cost, Gas Limit, and Gas Fees. The principle behind Gas is to have a stable value for how much a transaction or computation costs on the Expanse network.
- Gas Cost is a static value for how much a computation costs in terms of Gas, and the intent is that the real value of the Gas never changes, so this cost should always stay stable over time.
- Gas Price is how much Gas costs in terms of another currency or token like Expanse. To stabilize the value of gas, the Gas Price is a floating value such that if the cost of tokens or currency fluctuates, the Gas Price changes to keep the same real value. The Gas Price is set by the equilibrium price of how much users are willing to spend, and how much processing nodes are willing to accept.
- Gas Limit is the maximum amount of Gas that can be used per block, it is considered the maximum computational load, transaction volume, or block size of a block, and miners can slowly change this value over time.
- Gas Fee is effectively the amount of Gas needed to be paid to run a particular transaction or program (called a contract). The Gas Fees of a block can be used to imply the computational load, transaction volume, or size of a block. The gas fees are paid to the miners (or bonded contractors in PoS).
More articles on GAS can be found below.