Wei is the smallest denomination of Ether (ETH), the native cryptocurrency of the Ethereum blockchain. It is named after Wei Dai, a computer scientist and cryptography pioneer. In the Ethereum network, Ether is divided into smaller units to facilitate transactions and calculations.

Here are some key points about Wei:

1. Ether Subunit: Ether is divisible into smaller units, similar to how dollars are divided into cents. Wei is the smallest unit of Ether, and it represents the base denomination of the cryptocurrency.

2. Decimal Places: One Ether (ETH) is equal to 10^18 Wei. This large number represents the decimal places when converting between different Ether denominations. For example, 1 Ether is equal to 1,000,000,000,000,000,000 Wei.

3. Precision: Wei provides precision for representing very small fractions of Ether. It allows for precise calculations and microtransactions within the Ethereum network.

4. Gas Calculation: Wei is used in the Ethereum network to measure and calculate the cost of executing transactions and smart contracts. Gas fees, which are denominated in Wei, are paid by users to miners for processing and validating transactions on the network.

5. Smaller Units: While Wei is the base unit, there are higher denominations of Ether, including Gwei (Giga Wei), which is equal to 10^9 Wei, and Ether itself. These larger denominations are often used in the context of gas fees and pricing in the Ethereum ecosystem.

It's important to note that when interacting with the Ethereum network or working with Ether, you may come across different denominations, and conversions between Wei, Gwei, and Ether may be necessary. Understanding these denominations is crucial for accurately transacting and calculating values within the Ethereum ecosystem.

Also study

Phishing refers to a malicious activity where attackers attempt to deceive individuals into revealing sensitive information such as usernames, passwords, or financial details by posing as a trustworthy entity. It is a form of online scam that typically occurs through email, instant messaging, or fake websites.
Initial Exchange Offering (IEO)
An Initial Exchange Offering (IEO) is a fundraising method for cryptocurrency projects, which is conducted through a cryptocurrency exchange platform. In an IEO, the project team partners with an exchange that conducts the token sale on its platform and handles the listing of the token. Investors can participate in the token sale using the exchange's platform and typically need to go through a know-your-customer (KYC) process.
Collateral refers to an asset or property that is pledged as security for a loan or debt. It serves as a guarantee to the lender that they can recover some or all of the loan value in the event that the borrower defaults on the loan.
Forex (FX)
Forex, or foreign exchange, is the global decentralized market for trading currencies. The forex market is the largest and most liquid market in the world, with an average daily trading volume of over $6 trillion.

Welcome to the
Next Generation DEX.