A term used on the Ethereum platform that refers to the maximum amount of gas the user is willing to spend on a transaction.
However, if traders set a higher gas limit and the entire amount is not consumed during processing, the extra amount goes back to the user’s account. Note that the services used determine the complexity of a transaction. For example, interacting with smart contracts often leads to high costs since the contracts need more resources to execute.
In the above analogy, a driver needs to estimate the correct amount required for a particular trip to avoid inconveniences, such as an aborted journey. Similarly, Ethereum users must provide enough gas limits to prevent their transactions from being aborted and recorded as “Failed” on the blockchain. Unfortunately, when a transaction fails, the gas that is already consumed won’t be refunded. The ETH Gas Station provides an overview of the preferred gas limit. ETH wallets such as MetaMask provide a way to set the gas limit.