What is the role of wei in Ethereum smart contracts?

3 answers

• MdiaraJan 24, 2024 · 2 years ago
  Wei is the smallest unit of Ether, the native cryptocurrency of the Ethereum blockchain. In Ethereum smart contracts, wei is used to measure and represent the value of Ether. It plays a crucial role in determining the cost of executing smart contracts and conducting transactions on the Ethereum network. For example, when you interact with a smart contract, you may need to pay a certain amount of wei as a transaction fee or gas fee. The amount of wei required depends on the complexity of the contract and the current gas price. Wei provides a granular level of measurement for the value of Ether, allowing for precise calculations and transactions within smart contracts.
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• Braswell ElmoreNov 25, 2021 · 4 years ago
  Wei is like the pennies of Ether. It's the smallest unit of measurement in the Ethereum ecosystem. Just as pennies make up dollars, wei makes up Ether. When you're dealing with smart contracts on Ethereum, wei is used to represent the value of Ether. It helps determine the cost of executing smart contracts and conducting transactions. So, if you want to interact with a smart contract, you'll likely need to pay a certain amount of wei as a transaction fee. The more complex the contract, the higher the fee. Think of wei as the fuel that powers the Ethereum network and keeps everything running smoothly.
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• Mittal MalankiyaJul 13, 2024 · a year ago
  Wei is an essential component of Ethereum smart contracts. It represents the smallest unit of Ether and is used to measure the value of transactions and gas fees. When you interact with a smart contract, you'll need to pay a certain amount of wei as a transaction fee. This fee is used to incentivize miners to include your transaction in the blockchain. The amount of wei required depends on the complexity of the contract and the current gas price. So, if you're planning to deploy or interact with smart contracts on Ethereum, make sure you have enough wei to cover the transaction fees.
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