Imagine a blockchain network as a computer that processes transactions and smart contracts. To make sure this computer runs smoothly and doesn't get overwhelmed, there's a rule in place called the "gas limit."
The gas limit is like a cap on how much work a transaction or smart contract can do. It prevents them from using too much of the computer's power.
Here's why it's important:
Preventing Endless Loops: Without a gas limit, a transaction or smart contract could keep running forever, like an app that won't close. This would slow down the computer and block other transactions.Avoiding Traffic Jams**: If there's no limit, one transaction could hog all the computer's power, causing a traffic jam. Other transactions would have to wait, making everything slow.Staying Safe: Some programs could be bad or broken, and without a limit, they could use up all the computer's power, causing problems.Saving Resources: The computer has a limited amount of power. If there's no limit, it could run out of power, like a phone running out of battery. Then, nothing would work.So, the gas limit is like a safety feature that keeps things running smoothly and prevents any single transaction from causing trouble. It's a necessary part of how blockchain networks operate.
GAS PRICE VS GAS LIMIT IN LAYMEN TERMSwhat do you mean by gas units,how sender know that it is exactly 21,000 units?*what happens if there is no gas limit?*