Gwei

The term Gwei alludes to a small denomination of ether (ETH), which is the native currency of the Ethereum blockchain. As the name proposes,
Alongside ETH, Gwei is the most commonly utilized denomination of Ethereum's cryptocurrency, and it is especially valuable while discussing gas. Basically, gas is the pricing mechanism utilized on the Ethereum network. Such a mechanism is responsible for working out the fees when users perform a transaction or execute a smart contract operation.
In particular, a unit of Gwei is defined as one-billionth (one Nano) of an Ether. So 1 Gwei equals 0.000000001 or 10-9 ETH. Then again, 1 ETH equals one billion (109) Gwei.
As introduced on the Ethereum GitHub, there are several different denominations of ether, each addressing a multiple of wei (the smallest unit of ETH).

Unit	Wei Value	Wei	Ether Value
Wei	1 wei	1	10-18 ETH
Kwei	10³ wei	1,000	10-15 ETH
Mwei	106 wei	1,000,000	10-12 ETH
Gwei	109 wei	1,000,000,000	10-9 ETH
Microether	1012 wei	1,000,000,000,000	10-6 ETH
Milliether	1015 wei	1,000,000,000,000,000	10-3 ETH
Ether	1018 wei	1,000,000,000,000,000,000	1 ETH

To better comprehend the concept of Gwei, we might utilize a relationship with the US dollar, where Gwei would be equivalent to coins (pennies) and ETH to dollar bills. For small purchases, it's simpler to allude to prices in pennies as opposed to in parts of a dollar. Thusly, Gwei might come convenient while measuring small values, and that is the explanation it is widely utilized while computing the gas price. Albeit more uncommon, Gwei may once in a while be alluded to as a Shannon, NanoEther or Nano. The term Shannon alludes to the mathematician and cryptographer, Claude Shannon, who is known as the dad of Information Theory.

Highlights

Some digital currencies have high market values, so many have adopted naming shows for their denominations in light of the fact that the smaller units are utilized all the more frequently in transactions.
Gwei is the most commonly utilized ether unit since it is simpler to determine Ethereum gas prices in gwei.
Gwei is a denomination of the cryptocurrency ether (ETH), utilized on the Ethereum network to buy and sell goods and services.

FAQ

What Is Gwei Gas Price?

Gwei gas price is the fee paid to the network and transaction validators for the computational work of checking a transaction. The standard transaction fee is 21,000 gwei.

What Is Gwei to ETH?

Gwei is a denomination of the cryptocurrency ether, fueled by the Ethereum ecosystem. There are one billion gwei per ether (ETH).

How Are Gwei Fees Calculated?

The standard transaction fee in the Ethereum network is 21,000 gwei. More complex transactions can cost more. You can work out a transaction fee utilizing the formula Gas Units (Limit) x (Base Fee + Tip).