Lesson of the day #17
''Gwei'' A small amount of Ethereum's currency ether. 1 gwei is one-billionth of 1 ETH. Term is often used to measure GAS prices when submitting transactions.
Gwei is also called nano ether, nano is a term used to describe a billionth of something. Some cryptocurrencies have a high exchange rate that denominations of them are necessary. For Bitcoin you have ''satoshi'' to measure smaller units too for example.
Ether have denominations of more than just its billionth unit, like in this table.
The names next to the unit names are some names the insiders of Ethereum have come up with, just how the British pound features Queen Elizabeth. So ''Shannon'' after Gwei is named after Claude Shannon. An expert of Information Theory, coder and crypto-analysis. Can you guess who's name is after Ether on the chart?
You probably won't come across many of these unit names too often except Gwei and Ether, but if you do - now you know the terms! 🪙
