Gas Limit

Just as the name suggests, the gas limit is the highest cost paid by an Ethereum user to push the transaction within the network. The gas limit closely depends upon the complexity of the task, along with the speed required to fulfill the transaction.

With Ethereum becoming a large powerhouse, oftentimes there can be a huge upsurge of transactions. Under such circumstances, miners can prioritize the transactions with a higher gas limit.

Even after a trader sets a higher gas limit, the amount that is not consumed reflects in the user’s account. Gas limits are often advantageous for preventing incorrect codes, something that is often associated with smart contracts.