What Is a Gas Limit?
A gas limit is a parameter used in Ethereum transactions that sets the maximum amount of computational resources (gas) that can be consumed by a transaction. It is an important concept to understand when using Ethereum, as it helps prevent malicious actors from overloading the network with expensive computations and clogging up the blockchain. The gas limit also ensures that users do not spend more than they need to on their transactions, helping them save money while still ensuring their transactions are processed quickly and securely.
The gas limit for each transaction is set by the user before sending it out onto the network. This allows users to customize how much computation power they want to use for their particular transaction, depending on its complexity or importance. If too little gas is allocated then there may not be enough computing power available for miners to process your transaction; if too much gas is allocated then you will end up paying more than necessary for your transaction fees. Therefore, setting an appropriate gas limit requires some knowledge about what kind of operations are being performed within a given smart contract or application so that you can estimate how much processing power will be needed accordingly.