ETH and GAS Exam Prep Questions
I have a Grad final exam in 2 days and unfortunately, I am still struggling with the ETH and GAS concept when it comes to developing smart contracts. Really appreciate input on some questions:
- When I am developing a smart contract, do I set the ETH / Gas ratio?
- Do users/callers of the contact's methods also set their own ETH / GAS ratio?
- Do miners pick and execute the highest ETH / Gas bidder Tx?
Let's think of this example that I just made up:
- 1 ETH = $100 Today
- I set my contract with the ratio 1 ETH = 100 Gas
- so to run fun1 assume it costs 100 Gas .. so today it costs $100
- Assume 1 ETH is $1000 tomorrow .. this means that to run fun1 tomorrow it costs $1000??
How did Gas help solve the ETH price volatility? Correct me if I am wrong, but wasn't this the reason behind the Gas concept?
Submitted December 03, 2018 at 08:09PM }
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