I'm quoting this:
- Gas is the way that fees are calculated
- The fees are still paid in ether, though, which is different from gas
You can read more about it in detail here: https://ethereum.stackexchange.com/questions/3/what-is-meant-by-the-term-gas
Addressing your second question:
They are called wei, finney, szabo etc. (http://ethdocs.org/en/latest/ether.html)
And here's a converter for it: https://converter.murkin.me
Topic: Token creation using the Ethereum platform (Read 302 times)
I thought eth and gas are different? What's the right decimal value of eth called? as bitcoin is satoshi
I believe it is called a gwei... you're also able to set how much gas you want to use in a transaction, more gas = faster transaction processing. Most exchanges set gas at 4 , some let you set your own gas limit.
If you're sending an ERC20 token yourself (i.e., not going through an exchange) you have to have some ether (a tiny amount) to be used as gas. Some exchanges such as etherdelta convert and use other ERC20 tokens as gas in place of ether. For example, if you have a ERC20 token you're moving out of etherdelta, then etherdelta will take a gas equivalent amount of that ERC20 token for themselves instead of ether.
I thought eth and gas are different? What's the right decimal value of eth called? as bitcoin is satoshi
Yes, it will require Ether (Gas) to send and interact with these tokens.
But you don't need Ether to receive them. Just for sending and creating them.
But you don't need Ether to receive them. Just for sending and creating them.
Say example I create a token using Ethereum, will it require ether to send and receive the tokens I created?
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