Blockchain Academy
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GasLimit

All transactions are performed by paying the gas price, which is the concept of commission. When generating a transaction, the user can set the value of Gaslimit, GasPrice, and the fee to be paid is calculated as GasLimit x Gasprice. Where GasPrice is the Ether (The default unit is gwei) to pay per gas and is an estimate of the gas required to process the GadLimit transaction. If the actual gas used for transaction processing exceeds GasLimit, the transaction will not be processed. This means that if you set GasLimit to a low value, the transaction may fail in the middle due to a lack of transaction processing fees, or the miners may process transactions with higher commissions first, which may take longer to process the transaction.


Block GasLimit

The total amount of gas that can be put in one block. Currently (as of March 2019), one block of Ethereum can accommodate about 8 million gases and can contain about 100 to 200 transactions. The lowest GasLimit is 21,000 Gas, but there are transactions that execute smart contract codes as well as remittances in actual transactions, and theoretically, they can hold 380 transactions. The Bitcoin is limited to 1mb of capacity per block, while Ethereum has no capacity limit on the block, but gasLimit and Block GasLimit determine how many transactions to put in a block. This is a value that the miner can set, and it gives you more control flexibly over how many transactions you want to process.