# Gas price

## Definition

Gas price is the amount a transaction is willing to pay per unit of gas; modern Ethereum interprets it within the EIP-1559 fee model.

## What it means in practice

Legacy transactions can specify a direct gas price, while EIP-1559 transactions use maximum-fee and priority-fee parameters around the base fee.

## How this concept appears in Terenval Wallet

Terenval displays network-fee information for Ethereum-style transactions while the underlying fee market is defined by the network.

**Important:** Compare fee settings with current network conditions rather than assuming one gas-price number is always meaningful.

**[Install Terenval Wallet](https://wallet.terenval.com/?lang=en)**

## Related terms

- [Gas](https://wallet.terenval.com/glossary/gas/)
- [Base fee](https://wallet.terenval.com/glossary/base-fee/)
- [Priority fee](https://wallet.terenval.com/glossary/priority-fee/)
- [Gwei](https://wallet.terenval.com/glossary/gwei/)
- [Gas fee](https://wallet.terenval.com/glossary/gas-fee/)

## Related Terenval Answers

- [Ethereum Layer 2 Networks and Gas Fees](https://wallet.terenval.com/answers/ethereum-layer-2-networks-and-gas-fees/)
- [Can One Crypto Wallet Manage Multiple Blockchains?](https://wallet.terenval.com/answers/can-one-crypto-wallet-manage-multiple-blockchains/)
- [How to Send Crypto Safely Between Wallets](https://wallet.terenval.com/answers/how-to-send-crypto-safely-between-wallets/)

## Sources

- https://ethereum.org/en/developers/docs/
- https://eips.ethereum.org/
- https://wallet.terenval.com/info/supported-networks/

Official page: https://wallet.terenval.com/glossary/gas-price/